Being prepared for long-term care and funeral costs

By Paige Webbstock, Staff Writer.

The process and arranging and covering the costs of long-term care can be complicated and slightly daunting. Additionally, funerals can be costly but there are several ways to prevent these costs from burdening your loved ones:

  • You can save regularly into an account marked for funeral expenses.

  • If you are in possession of a life insurance policy, check if your extra benefits will cover funeral costs.

  • With a funeral plan, you pay an amount or installments to a provider, who then invests the money and uses it to cover the costs of your funeral. Ensure you check the terms and costs of funeral plans carefully – often they’re poorer in value as compared to a simple savings account. 

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