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Funeral With Installment Loans
18 Jun 2019

5 Things To Consider Before Paying For a Funeral With Installment Loans

When a loved one passes away, money matters are the last thing on your mind. It doesn’t matter whether the death was sudden or expected, peaceful or violent, or if it happened to someone old or someone young – it’s always an emotional shock. It’s also an unfortunate reality that you’ll most likely have to deal with setting up the funeral arrangements for the deceased while you are still in this state of grief. In that sort of frame of mind, you may not always make the best financial decisions. Paying for a funeral with installment loans is a natural and sometimes very practical solution to the high costs of funeral arrangements, but you must be certain that this is the right course of action for you. The questions below will help you to determine if that’s true in your case.

  1. What Were the Deceased’s Wishes?

The very most important thing to consider when you’re trying to figure out how to fund a funeral is what the deceased actually wanted. Not everyone has a specific plan for what they want to have happened to their remains once they pass away, but many people do. Make sure you find out if there was anything stipulated in the will regarding how the person who passed wished to be laid to rest. You might find detailed instructions, vague guidelines, or nothing at all, but it’s imperative that you actually check and don’t just assume you know what was written there. People can often surprise you when you least expect it.

  1. Are There Any Special Considerations to Make?

Sometimes people don’t make their wishes explicit in written form, but they still live their lives in such a way that suggests they would prefer one type of funeral over another. If the deceased was a follower of a particular religion, there may be a specific tradition regarding how they are supposed to be laid to rest. Another thing to think about is whether or not the person had any deeply held beliefs that might influence your choice of funeral arrangements for them; for example, someone who was a strong believer in ecological activism and conservation in life would probably not choose to be chemically embalmed or buried in a coffin that won’t break down naturally and return to the earth over time.

These considerations are no less important than religious ones if the person felt strongly enough about them in life, so don’t hesitate to make it a priority to conform to those expectations. Part of your job when making these arrangements is to honour the life of the deceased and make the choices for them that they can no longer make themselves. The final outcome should be something that you know they would be happy with if they could see what you’ve done for them, whether or not that involves installment loans.

  1. Can Their Estate Cover It?

If you’re arranging a person’s funeral, you have most likely been named as their executor, and that usually gives you power over the portion of their material wealth that is needed to carry out their last wishes. Some people even pre-pay their funerals in advance and leave that paid arrangement behind as part of their estate, a move which eliminates both the expense and the uncertainty of having to plan something. If anything like this exists, it will likely be mentioned in the will. Otherwise, a bit of simple accounting is in order. How much money did the deceased leave behind? What about assets? Get an idea of the total value of the estate as a whole and you will know how much you have to cover the funeral. Bear in mind, though, that this is not a catch-all solution. Many people pass away with very little to their name, and in those cases, installment loans will often be needed to make up the difference.

  1. Is Anyone Else Willing to Chip In?

In most cases, you’re not the only person who your loved one has left behind after their death. The deceased probably has many people who are mourning them, whether those people are friends or family, and some might be willing to help you out with the costs of laying that person to rest. These people may be able to help you out with covering the funeral costs so you don’t need to take out installment loans. If you have something specific in mind that you couldn’t otherwise afford, this can help you to make that deeply held wish a reality. Even if they are only willing to lend you the money instead of giving it to you outright, they will probably charge less interest than all but the very best of loan arrangements will. That makes them a better option in most cases.

  1. Is There a Less Expensive Option That Is Still Meaningful to You?

There are many different things you can do with the remains of a loved one now that in some cases might be less expensive than the original option you were going to go with. Aside from the obvious possibility of cremating the person and scattering their ashes in a place that was important to them, you should know that you now have many different options at your disposal. This includes everything from eco-burials that wrap the deceased in an all-organic shroud before the internment and plant a tree over the grave site instead of using a headstone to opportunities to use the ashes to make something lasting and precious like a diamond or a vinyl record with a favourite song on it. There’s no right or wrong way to grieve, but some of these routes can allow you to give the procedure a personal touch and often cost less than what you would otherwise pay. Making this choice might be enough to let you skip over the need for a loan.

Now For the Last Step: Finding the Installment Loans You Need

If a loan does turn out to be the right choice for you in your quest to fund the funeral arrangements you’ve decided on, you don’t need to worry about finding a provider you can trust or a deal you can afford; you have enough on your plate right now. Instead, let Bonsai Finance take over some of that work for you. When you enter our online portal and fill in your installment loans needs, you’ll be instantly connected with dozens of reputable and competitive lenders who we’ve worked with in the past. We know them to be some of the best loan providers out there and we know they’ll be able to help you too.