Funeral homes in Kinds Mountain, NC and around the country can be very expensive, so it’s vital to make plans now for how you will pay for your funeral to make sure your loved ones aren’t suck with a massive tab when you’re not around. Most people have thought hard about their own passing, but most do not think about the more practical aspects of their death, like how to pay for it.

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Paying for a funeral isn’t as easy as leaving some money in a savings account, however. When someone dies, their bank freezes their accounts and assets for a month, or sometimes longer. This means that after you die, your family won’t have access to your savings accounts until long after the funeral is over. Luckily, there are a few ways you can set money aside like:

• Payable-on-Death Account – Payable-on-death accounts, or PODs, allow you to set money aside specifically for funeral and other death-related expenses. Your beneficiaries simply have to present a death certificate to the bank in order to obtain the money. They will not have access to the money until after your death.
• Veterans Benefits – If you served in the military you may be eligible for veteran’s benefits, including burial, funeral or cremation at no cost. The Veterans Administration will pay a burial allowance to your loved ones to cover related expenses. Check the VA website to see if you’re eligible.
• Insurance – Most life insurance policies will pay out a lump sum of money to a beneficiary when you die. This lump sum can go a long way towards paying for your funeral home expenses. These insurance payments are made almost directly after death so your loved ones can access the money right away. There are also special insurance policies for death related costs like burials, funerals, cremations and more.
• Borrowing – Banks also offer loans specifically for funeral home payments. However, as these loans are personal and unsecure, they can get expensive. Interests range usually from 16 to 35 percent on these kinds of loans. Since the FCA recommends that you do not go into debt for a cremation, be sure to only take out a loan you can easily pay back.

You can also look into low-cost options. If you don’t have money to set aside right now, and feel like you won’t later on either, you can plan for low-cost funeral options. From direct cremations and at-home funerals to green burials, or even donating your body to science, there are definitely low-cost options out there. If you do plan to donate your body to a medical school or other institution be sure to enroll in advance.

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If you want to learn more about Kinds Mountain, NC funeral homes and how to pay for their services, Clay-Barnette Funeral Home can help. Pay us a visit or give us a call today. Save your loved ones some stress after your death and make arrangements to pay for your funeral now.