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.