A prepaid funeral is exactly what it sounds like. It’s when you put funds aside for a specific burial and funeral service before you die. It means everything is all organised and ready to go after you’re gone.
The way it works is you choose and pay for the funeral in advance with your nominated funeral director. This means you lock in the exact details of the service and the price at the time of payment. You can choose to pay the entire thing up front or instead make a deposit and then pay regular installments, kind of like Afterpay but for funerals.
If you are wanting to purchase a prepaid funeral you should check the specific terms with the funeral director. Each funeral director sets specific guidelines for their services, and some may not include transfers interstate if you move later in life.