There has been much hype in recent years regarding prepaying funeral expenses. Since PEOPLE’S MEMORIAL seeks to have all consumers make informed decisions, we want you to know both the benefits and risks of the different vehicles for prepayment. Because of the low-cost of cremation and burial arrangements through PEOPLE’S MEMORIAL, for many of our members it may not make sense to prepay. You will receive no sales pressure from us to do so, instead we seek to educate you regarding the options and let you choose what is right for your situation.
Prepayment in any form involves trusting that someone else will securely hold and manage your funds and deliver them in full to the funeral home of your choice at time of death. That means trusting that the bank, insurance company, funeral home, family or friend will perform their duties responsibly. Most funeral homes no longer guarantee funeral costs for prepaid plans. Before you make a decision about what to do, we encourage you to read our brochure The Benefits and Risks of Prepayment.
If after reading this information you feel that prepayment is the best choice for you, PEOPLE’S MEMORIAL Funeral Cooperative offers life insurance as a means of funding your final arrangements. Like most funeral homes today, we are not able to guarantee that future costs will be paid in full. If there is more life insurance than necessary to pay for your chosen arrangements, we will refund the difference to your estate or next-of-kin.