DEATH may be a certainty; however, the stress associated with the costs of a funeral does not have to be if plans are put in place to ease the financial burden, says Othneil Blagrove, senior manager, sales and service, JN Life Insurance.

Blagrove said that in preparing for death estate planning is just as important as the funeral expenses.

“Most people believe that planning for death is just the funeral. However, it’s more than that. Preparing for death also means putting the necessary financial plans [in place], such as your estate, the right insurance plans, the type of funeral you want, where you want to be buried, or if you wish to be cremated,” explained Blagrove.

“All of these plans come with a cost, which should not leave your family in debt. Rather, they should be able to send you off without wondering how they’re going to do it,” he stated.

The senior manager pointed out that one of the first things to do is to ensure that a will is in place.

“You should not take it for granted that your assets will be distributed based on the oral promises you would have made during your lifetime,” Blagrove pointed out. “Although you may have outlined how the assets should be divided, there is no guarantee that disputes won’t arise based on how the assets are distributed by virtue of the Intestates Estates and Property Charges Act.”

“Also, you can’t say that if ‘I create a will, it means I will die sooner’. Or, that you don’t have enough assets. Estate planning should begin as soon as you start acquiring assets, even if it’s a small saving in the bank,” he added.

Blagrove pointed out that after that, individuals should invest in insurance, especially a family indemnity plan, to offset the cost of burial.

“Family indemnity plans are affordable for persons, regardless of their income; and can be paid monthly, quarterly, semi-annually or annually,” said Blagrove. They cover the costs of funerals, he said, and, in some cases clients can also benefit from critical illness coverage.

“Family indemnity plans also allow coverage for up to six persons, including in-laws, and policyholders can receive from $400,000 up to $1.5 million, depending on their contributions,” he added.

Blagrove pointed out that the average cost of funerals in Jamaica is somewhere in the region of $300,000, with most Jamaicans preferring burial as a way to send off their loved ones. However, cremation should be considered.

“Cremation can be less costly than burial; therefore, it should be given some thought while respecting the last request of your loved one,” he added.

Blagrove added that families should always do their research when deciding the best options to send off their loved ones.

“Some funeral directors offer packages where you pay for your funeral in advance. If you can afford this, this should be considered because you pay a set figure and the cost remains the same, even if the person dies years later,” he revealed.

“For those who are unable to do this, the family indemnity and other whole life plans become important. These plans pay out a certain amount to cover final expenses and, based on the amount to be paid out, persons can decide how they will send off their loved ones. However, no matter what, like everything else, we advise families to stick to a budget because you don’t want the added burden of debt while you are grieving,” he stated.