An Austin. Texas news station has advised against buying a prepaid funeral as away of Saving on Funeral Cost. Prepaying a Funeral may on the surface sound like a good idea, but recent history has found it to be quite risky.
One Reason it is quite risky is that Funeral Directors lately have been found to take the money.
This has been revealed in three major Funeral Director Scandals.
1. The National Prearranged Services Scandal -2008
2. The Illinois Funeral Directors Association Preneed Ponzi Scheme- 2009
3. The California Funeral Directors Association Scandal(California Master Trust) 2010
On the surface, it seems like a good idea to pay today’s price for final arrangements.
Since funeral prices have been going up by more than the rate of inflation, it might seem like a wise choice to pre-pay for your funeral arrangements.
Unfortunately, the prepaid funeral business, like other industries, is not without its share of fraud and deceit.
The average cost of a funeral in today’s dollars is about $10,000, and that cost is increasing every year, so you can see why consumers in Texas have contracts worth $3 billion.
Funeral Industry|Funeral News| Funeral Blog by Your Funeral Guy