Funeral Bonds Explained - Everything You Need to Know
Funerals can be quite expensive. Because of this, more people are starting to look at pre-planning funeral options. This ensures that your family isn’t faced with a financial burden when you pass away. This will allow you to put some money aside regularly, investing in a funeral bond. But what does this type of investment look like and how can you be sure that your money is safe? Here are the basic things you need to know about a funeral bond. Where Does Your Money Go? A funeral bond is a type of investment product, where the funds will be held in your name. This is managed by a third party, separate from the funeral home you used to plan the funeral. The purpose of the fund is to ensure that your money keeps pace with inflation. This is the reason why you can lock in today’s prices when you start paying for a funeral, insulating you against future cost hikes. Sometimes, you will have excess funds after paying for the ceremony. In this case, the leftover money will become part of the