There aren’t many things in life that we have complete control over. Sometimes we are fortunate and the result is favorable, and other times we end up disappointed with the final outcome. When it comes to taking care of things in our absence many people turn to planning preneed funeral services. Whether they have certain religious or cultural needs to be met, or have a particular manner in which they would like the proceedings to run, the desire to preplan an inevitable event is very popular.
Choosing the final resting place is no easy task and is a very personal decision. Some choose to be buried side by side with loved ones, others may choose to be cremated and have a memorial plaque on the wall. Perhaps there’s a particular cemetery where your family rests or maybe you’d like a quiet chapel service or a large catered reception. Many funeral homes and parlors offer countless options as do burial sites and crematoriums. The challenge in ensuring your wishes are fulfilled is that preplanning may be required.
For many people, taking care of their final resting place is not only an opportunity to ensure their needs and wishes are met, but this can also seek to alleviate any burden on those left behind. A preneed funeral is often paid for in advance with minor adjustments to be negotiated, thereby decreasing any burden on dependents, friends and family members who may not be in a financial state to cover the costs of such an event. The difficulty here becomes ensuring the desires are fulfilled to the client’s needs, however the client is unrepresented. Their interests are protected by a Preneed Funeral Bond, provided the funeral parlor is bonded.
The advantage of a Preneed Funeral Bond is that those carrying out the wishes that were paid for are held accountable to ensure plans are followed as requested. When a company purchases this type of bond they become the bond’s principal promising to the state, the bonds obligee, that the specifications prescribed in writing will be carried out. The promised is essentially backed up by the surety in the form of the actual bond itself. Funeral homes can be held accountable for misuse of the customer’s funds and be ordered to reimburse the amount that was unlawfully used. Additionally, Preneed Funeral Bonds provide reassurance in the even the funeral home or parlor ceases to exist prior to holding a preneed funeral.
These types of bonds are relatively new, so in order for a funeral or burial service provider to receive a one, they would commence by contacting their insurance agent to inquire whether this type of surety bond was something their present insurance provider could assist them with. If not, then a search on the internet would provide the funeral home with other insurance companies in their area. When applying for the Preneed Funeral Bond, the owner of the funeral service company can expect to surrender to the insurance agent information such as the financial statements for the business as well as their personal financial statements, business licensing information, business and personal tax information, and anything else desired by the insurance company.
Consumers need be aware that a surety bond is not a form of insurance whereby the holder can make a claim and receive financial assistance. Instead, a surety bond demonstrates that the owner can and is obliged to, pay back any monetary loss due to the business’ unlawful use or representation of the clients funds. When preplanning for your future needs, ensure that you are working with a funeral or burial service provider who holds a Preneed Funeral Bond, signifying their commitment to taking care of your funds and your future needs.