Many people find it difficult to talk to others about death, and about their funereal wishes, although death is one of the few certainties in life. At a young age, planning your funeral is not likely to be high on your agenda, and since it is an unpleasant theme it is tempting to delay thoughts of death until later life.
Nevertheless, funeral plans are for people of any age, so it is possible to start planning at any time. Planning at a young age does have its disadvantages; most young people will not die for many decades, and it is important to consider that your funeral company may no longer be in business when you die. You, or your family, may also be concerned that aspects of your plan, such as your coffin, will be discontinued or old-fashioned over time, or your tastes may change.
Some plans contain clauses to bind you to your commitment, for example, they may not allow you to transfer your plan if you move abroad or even to another State or Territory region. This kind of commitment is hard to accept at a young age. Some plans offer greater flexibility however, giving you the opportunity to change details of your plan, but you should check with your provider to avoid future difficulties.
At an older age you may be more willing to consider your funeral plans. If you have preferences regarding specific aspects of your funeral, for example the music, flowers, or the service, you may find it easier to purchase a funeral plan than discuss your wishes with loved ones. Whilst there are many benefits to funeral plans, some financial advisers do not recommend them, often because funeral plan providers invest the money that you pay which puts the funds at risk. You should ask the administrator of the funeral plan what is done with your money whilst in their control, and if you are dissatisfied you should not purchase the plan. If you are uncertain as to how best to proceed, seek professional independent financial advice before making any commitment to a funeral plan.
