Bob Spahn is a tenured Professional Financial Advisor based in Elmhurst. He’s seen his industry change and adapt, becoming more sensitive to advance planning for healthcare, housing, and funeral expenses. Siting studies, Bob quotes, “Funeral expenses double over the course of 12 years”. So, the time to plan is not “at retirement”, but earlier than that to maximize the benefits and hedge inflation on an inevitable expense.
Aside from the financial benefits, and even more important, pre-planning removes a great burden from families by having choices and preferences recorded and kept on file in advance. Loved ones are not guessing what your wishes are during an emotionally difficult time.. If the plan is pre-funded, it removes any financial strain on surviving family members.That pre-funded policy is held independently by a separate insurance entity. If a family has moved, the pre-planning fund policy can be transferred to another funeral home.
People may feel a bit uncomfortable discussing life insurance, wills or funeral planning. “As a financial planner, I highly recommend that people address these concerns when they’re younger,” says Mr. Spahn, adding, “it’s a much easier discussion when a person is not facing any imminent health concerns”.
Whether you have pre-planned, would be interested in pre-planning or you have an at-need circumstance, the Gibbons Family is here to serve your family. If you have any questions about pre-planning or any aspect of funeral arrangements, please contact us with no obligation, at 630-832-0018 or www.gibbonsfuneralhome.com
We’re here 24 hours a day/7 day a week. Whenever our family can assist yours.
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