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Pre-Need
WZZM 13 News: Prepaid Funeral Caution, April 16, 2001
Prepaid Funeral Caution
People as young as 50 are getting the hard sell to pay for their funeral in advance. Americans have already spent billions on the contracts. But Consumer Reports says prepaying for funerals is a bad deal.
Six years before her mother passed away, Cindi Strauss bought a $9,000 prepaid package to take care of her mother's funeral. Cindi Strauss says, "I thought everything was going to be fine, and it wasn't. There was a lot more money that they were wanting."
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- Education: Pre-Need
- Consumer Protection: Consumer Alert Articles
Episcopal LifeSelections: Paying ahead of time may be risky venture,
Paying ahead of time may be risky venture
Prepaid funerals are today a lucrative business in the United States, as consumers seek peace of mind about the end of life. They come with risks, however.
Roughly 21 million Americans have prepaid at least a portion of their burial or funeral expenses, according the the American Association of Retired Persons. Such sales, known as "pre-need sales" total somewhere between $20 billion and $40 billion, according to AARP.
To read the rest of this article, download the attachment below.
- Education: Pre-Need
- Consumer Protection: Consumer Alert Articles