After you have selected the services and merchandise that fits your needs you have several options in regards to prefunding. You may choose to prepay in full, pay for a selected service or merchandise item, or start a payment plan.
The item or items you have paid for will be noted paid. The funeral home does not get to keep your money. Indiana law requires the funeral home to deposit your prepaid monies with a third party. This third party holds the money until the services are performed by the funeral home. Waters Funeral Home utilizes three companies to hold prepaid monies: Funeral Directors Life Insurance Company, Investors Heritage Life Insurance Company, and Masterchoice.
Monies collected for services and merchandise is guaranteed. You will never be charged for price increases over time. This is one major reason people choose to prepay their services. You may pay for your funeral today and not have to pay more when prices go up over time.
The prepaid monies will become a part of an irrevocable funeral contract. This means that they cannot be claimed by anyone other than the funeral of your choice – after they have completed services.
After selecting services and merchandise that fit your needs you may choose to start an installment contract. We can build a payment plan to fit your needs, whether you pay monthly, quarterly, or yearly.
You have two options concerning payment plans: