Make it easier for the ones you love, and Leave Nothing To Chance.
Providing for a funeral & Cremation
Few people have the resources to pay for immediate end of life expenses on such short notice.
If you rely on your friends and family to pay for your immediate end of life expenses, you may be leaving behind more than heartache. Without providing a plan in advance, the ones you love most may need to reach into their savings accounts, use credit cards, take out a loan, or even sell personal assets in order to pay for your final expenses.
All too often, money set aside in savings accounts may be subject to early withdrawal penalties, become tied up in probate or be depleted by long-term care expenses or nursing home fees.
A wise choice to protect your loved ones is to meet with our specialists well in advance and establish a plan for your immediate final expenses with a funeral insurance policy/certificate (“policy”) exclusively offered through our firm and its partners.
Pre-paid Funeral Plans
Our Pre-paid Funeral & Cremation plans are paid with a funeral & cremation industry burial insurance product, which is designed to keep pace with the rising cost of funerals. The pre-arranged plan ensures that the detailed arrangements planned and paid for today will be carried out - as specified and with no additional cost for the goods and services selected - years later when the need arises.
Often individuals provide for final expenses by use of their traditional life insurance, savings or relying on friends and relatives for financial assistance. The last thing you want to do is put your family, friends and relatives in an unexpected financial position. See graph below.
Pre-paid Funeral & Cremation
Funeral Expense Trust
Savings/Money Market
Certificate of Deposit
Traditional Life Insurance/Annuity
Protects death benefits from federal income taxes
No
No
Considered an excluded asset when attempting to qualify for Medicaid/SSI
No
No, unless the CD is put into a trust for funeral expenses
No
Protected from Probate, lawsuits and creditors
No
No
Depends on your state.
Offers growth to protect against inflation
No
No
No
Pays funeral costs first with any excess funds going to an assigned beneficiary
No
No
No
No
Tax penalties Do not apply
No
No
Do not apply to life insurance but Do for annuities
- Remove the emotional burden
Our Pre-paid Funeral & Cremation plans are designed to remove the questions such as "Did we do the right thing?" or "Did we spend too much?". By having a pre-paid burial insurance plan, you have reduced the emotional questioning process and eliminated the financial aspects that must be handled at the time of a loss.
- Eligibility for Medicaid
Our Pre-paid Funeral & Cremation burial insurance plans plans has been reviewed by the Departments of Health and Social Services in Maryland, as well as the Health Care Financing Administration (HCFA), and the Social Security Administration (SSI) in determining how it affects eligibility for Medicaid and SSI benefits. Through the use of our irrevocable trust assignments, it allows the transfer because there is adequate consideration. Adequate consideration is a legal concept requiring the applicant or recipient to receive something of equal value for the property transferred or assigned. With our program, the Medicaid applicant or recipient receives something of value - a funeral/cremation service - in return for the assignment of the death benefit of the pre-paid plan.
- No income tax liability on policy growth
The death benefit payable at time of passing is exempt from income tax liability.
- Portable Coverage
Our Pre-paid plans are completely portable, allowing you to move the plan/coverage as needed during your lifetime and retain your coverage. The details of your plans stay with you and are able to be used at any funeral home of your choosing.
how it works
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