Should I Prepay?
Many members of People's Memorial ask if they should prepay for the final arrangements. In many situations, it may be of greater benefit to the funeral home than it is to the consumer. Because People's Memorial wants all consumers to make informed decisions, we believe it is important for you to know both the benefits and risks of the different prepayment methods.
For those who anticipate they will need to spend down for Medicaid, Washington State allows you to set aside up to $1,500 in a bank account to cover your funeral expenses. Many funeral homes offer cremation for less than $1,500 - in fact, members of People's Memorial are guaranteed the price of $795 for direct cremation through any one of its 25 contracted funeral homes. If you are wanting burial, then prepayment may be advisable.
Prepayment in any form involves trusting someone else will securely hold and manage your funds and deliver them in full to the funeral home of your choice at time of death. Most funeral homes no longer guarantee funeral costs for prepaid plans. For complete information on this subject, please read The Benefits and Risks of Prepayment.