» Unity Financial Frequently Asked Questions
Q1: What is preplanning?
A1: Preplanning is arranging a funeral before death. These selections may be paid for in advance with an insurance policy.
Q2: Why do people preplan?
A2: People like to feel that they have taken care of their funeral, which grants peace of mind of not burdening family with these final decisions during their time of grief.
Q3: What is prefunding?
A3: When a person arranges payment for his/her funeral before death, it is called prefunding. Prefunding can be accomplished by paying cash, putting money into a funeral trust, or using insurance. If insurance is used, then it is by means of assignment of insurance proceeds contained in the funeral services contract.
Q4: Why prefund a funeral?
A4: When a person prefunds their funeral they save their family members from bearing a financial burden at time of death.
Q5: What is preneed insurance?
A5: Preneed insurance is small face amount insurance coverage, usually $15,000 or below, which is pledged to fund all or part of a funeral.
A1: Preplanning is arranging a funeral before death. These selections may be paid for in advance with an insurance policy.
Q2: Why do people preplan?
A2: People like to feel that they have taken care of their funeral, which grants peace of mind of not burdening family with these final decisions during their time of grief.
Q3: What is prefunding?
A3: When a person arranges payment for his/her funeral before death, it is called prefunding. Prefunding can be accomplished by paying cash, putting money into a funeral trust, or using insurance. If insurance is used, then it is by means of assignment of insurance proceeds contained in the funeral services contract.
Q4: Why prefund a funeral?
A4: When a person prefunds their funeral they save their family members from bearing a financial burden at time of death.
Q5: What is preneed insurance?
A5: Preneed insurance is small face amount insurance coverage, usually $15,000 or below, which is pledged to fund all or part of a funeral.
