What You Should Know About Specialty Funeral Services

With more choices, the specialty funeral services industry has become increasingly competitive. The increasing number of options can lead to confusion, but there are several things you should know before choosing one. Read on to learn more about the procedures and costs of specialty funeral services. Below are some tips to make the most informed decision. A storefront funeral service does not have a separate building. Instead, they are usually in an office building or strip shopping center. Many companies have taken advantage of these existing buildings to offer cremation and burial services.

Viewings and visitations

A viewing is when you are allowed to spend time with the deceased before a formal funeral service. Traditionally, this took place at the dead’s home over days, allowing close family and community members to share in celebrating the deceased’s life. While a visitation usually takes place at a funeral home, some specialty funeral services Chesapeake, VA, allow visitors to visit the dead in the comfort of their homes. Home visitations are deeply personal, so many people prefer this option.

While a traditional funeral service is a formal occasion, visitation or viewing helps people mourn together in a less formal setting. Visitation is typically held at a funeral home but may also occur at a church, community hall, or private residence. The choice is up to the family, but usually, the viewing occurs the day before the funeral. It can be held privately, for close family, or the public.

Costs

The most expensive part of a traditional full-service funeral is the casket. Caskets vary in cost and style, but they also differ significantly in appearance. Some are made of metal, while others are made of wood, fiberboard, fiberglass, or plastic. An average casket will cost about $2,000, though some are more expensive than that. The funeral director’s fee is included in this cost, but other charges will also be added.

Embalming is an additional cost and is not required in most cases. It is usually between $500 and $700, but it can cost up to $1,000. Embalming can be optional, depending on the time of day and the location of the burial and service. Some cemeteries also require embalming, but it can be expensive, so many people opt for refrigeration. However, refrigeration costs can be several hundred dollars higher than embalming.

Procedures

The Federal Trade Commission (FTC) has mandated that funeral homes provide an itemized list of costs before finalizing a funeral service. This list is called the General Price List, allowing consumers to select the services they want and reject package deals. The funeral home must also charge a Universal Fee, which covers the cost of services common to all funerals, such as the use of the funeral home, the services of the funeral director and other attendants, securing death certificates and permits, and coordination of burial arrangements.

After the body is removed from the body, the coroner will investigate the cause of death if the death was not natural or if there was no physician present. When the body is cremated, the final elements of the deceased are reduced to bone fragments and ash. Cremation requires a report and a death certificate from the local government. It can be performed in various ways, including a simple container.

Committal services

Committal services are a service in which the deceased is buried in the family’s grave. The ceremony is intended as a final goodbye to the deceased. The tradition is thought to have originated from a sermon in the Book of Common Prayer stating that Jesus rose from the dead and would return to life in the afterlife. Committal services typically last fifteen to twenty minutes. Sometimes, there is no funeral.

A visitation is a gathering held before the funeral service. This typically occurs the night before or the morning of the funeral. During this time, friends and family members can pay their respects and offer prayers. After the service, a vehicle is sent to the cemetery. A final set of prayers are recited for the deceased. A Committal service usually concludes with a viewing and a funeral reception.

Types of providers

There are several types of specialty funeral service providers. Generally, they charge a fee for their services. Entombment and burial are two types of services offered by funeral services. A crypt, which is used for the deceased’s final resting place, is also a service provided by some funeral services. Funeral establishments are buildings that are dedicated to the preparation and conduct of funerals and visitations. A funeral firm is an entity registered with the Department of Consumer Affairs. Funeral firms can operate out of a single location or in many areas.

Private individuals own funeral homes, groups of families, and corporations. Corporations sometimes own funeral homes, and these companies consolidate their services to provide more affordable funeral services. Other specialty funeral service providers include memorial societies and funeral service consolidators. In most cases, these organizations provide a high level of personal service to the family, and the funeral director gives them as much time as they need to make decisions.

What Beginners Must Know About ELSS Fund Investment?

If you are looking to invest in mutual funds that offer the dual benefit of tax deductions and wealth accumulation over time, Equity Linked Saving Schemes or ELSS are the right option. These mutual fund schemes come with a lock-in period of three years (that is shorter than other tax-saving investment options). They differ from liquid mutual funds that invest in fixed income securities like commercial paper, government securities, and treasury bills with a maturity of up to 91 days.

Let’s look at what you need to know about ELSS funds and how to invest in them.

What are ELSS funds?

Equity-Linked Saving Schemes or ELSS Funds in India refer to mutual funds that mainly invest in equities.

Their main features are:

  • They are open-ended funds which means that you can buy or sell the units of these funds at any time
  • These mutual funds allocate 65% of their funds towards investment in equity and equity-linked securities with the remaining being invested in fixed income securities or debt.
  • They are tax-saving instruments as specified by Section 80C of the Income Tax Act. Tax benefits are available only on investments of up to 1.5 lakh rupees.
  • The returns generated from these schemes are taxable under the dividend distribution tax and taxes on long-term capital gains.
  • They come with a lock-in period of three years which means you cannot sell your units for the first three years.
  • There is no upper limit for investing in these schemes with the minimum amount varying from one mutual fund to another.
  • They are available with two options of growth and dividend. You can choose the one that matches your financial goals.

Growth vs Dividend Option

The growth option in the ELSS funds in India is suitable for you if you are looking for long-term wealth creation. In this option, profits earned on the investments are reinvested with the accumulated amount being paid in the end. The NAV of such schemes rises to reflects the profits made and falls in-line with the losses on investments made.

In the dividend option, you get dividend payments during the investment period. This means the profits made by the scheme are not reinvested and instead paid as dividends.  Thus the NAV of the scheme gets reduced by the amount of dividend paid.

You need to choose between the two options based on your financial goals. If you look for long-term growth you can opt for the growth option. However, if you are looking for some steady returns, go for the dividend option.

Investing via SIP or Lump sum

You can invest in equity funds or ELSS schemes via two routes- the SIP route or a lump sum amount. When you opt for a SIP, you agree to contribute a pre-decided amount at fixed intervals to the fund. Each SIP is treated as a separate investment and so the standard three-year lock-in period applies to each instalment individually. You will, however, benefit from the rupee cost averaging effect which means the fund can buy more units when prices are down and less when prices are up.

 

How will critical illness insurance help you?

Illnesses and diseases are an inevitable part of the modern lifestyle. And, the cost of their treatments is sky-high. With a substantial rise in the number of diseases and the ever-increasing medical expenses, there is a need to protect your finances. One of the ways to do is to opt for critical illness insurance.

Further, in this article, we will take a look at:

  • A brief understanding of critical illness insurance
  • Advantages of this insurance
  • Need to buy a critical illness insurance

What is Critical Illness Insurance?

To put it simply, critical illness insurance is essentially a policy which offers coverage against life-threatening diseases such as renal failure, cancer, liver transplant, etc. The financial compensation provided by this insurance is in the form of lump-sum. This monetary support is received as soon as you are diagnosed with a critical illness which is covered under the plan. You can use these finances to pay for expenses incurred on the medical treatment.

Many critical illness insurances offer a survival period of 30 days, and the claim is settled on completion of the survival period.

What are the benefits of critical illness insurance?

  • Easy pay-outs:

Perhaps one of the most important advantage. Critical illness insurance pays the insurer a full sum insured in lump sum irrespective of the hospitalization cost. You can use money received to pay for the treatment or any debt and recuperation expenses.

  • Easy claim process:

Unlike most health plans, critical illness insurance has a comparatively easy claim process. Once you show your diagnoses to your insurance company, they will take care of all the financial support you require for the treatment.

  • Lesser waiting period:

With critical illness insurance, the company processes your papers at a much faster pace. It also ensures that finances are made available before you start your treatment. Generally, the waiting period is up to 3 months. Hence, the sooner you apply, the better.

  • Avail tax benefits:

Critical illness plans also offer tax benefits under Section 80D of the Income Tax Act. This is along with medical insurance.

Why do you need a critical insurance plan?

Given the inflation in the medical field, a critical insurance plan can come handy. The rising illnesses too make it is imperative to buy a critical illness plan.

However, before you buy a critical illness plan, it is important to know which plan suits you best. Hence, consulting a financial advisor is essential.

Future Scope Of NASDAQ GOOGL Shares

NASDAQ is the leading brand for buying and selling securities. NASDAQ stands for the National Association of Securities Dealers Automated Quotations. It is situated in the United States of America and is created by NASD, i.e., the National Association of Securities Dealers. They trade the securities on a transparent and computerized system on 8th February 1971.

Many companies like Netflix, Flipkart, Amazon, Google, etc. are present on this platform. These companies share their stocks to the clients for trading. If you want to buy a company’s shares like NASDAQ: AAPL at https://www.webull.com/newslist/nasdaq-aapl, you must have the proper research about the company to prevent any risk.

About Alphabet Inc. Stocks 

Googl, also known as Alphabet Inc., is one of the most popular brands that trade their shares. Its parent company is Google and other Google subsidiaries. It has made many innovations in the technical market. It has made many internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube. Let us discuss it.

It is rated as the Zacks Rank 3 and may have an inline return from these googl shares in the coming months. It has a VGM Score of B that makes them best for personal trading. These stocks are valued and have a value score of C that is helpful for the value investors. The growth score of Googl is B.

According to the earning estimate revision and any price change, it is best for the momentum investors with the Momentum score of A. Google is investing a lot in new big projects outside its core and allowing a growth stock despite hundreds of billions in the annual revenue.

The NASDAQ: GOOGL at https://www.webull.com/quote/nasdaq-googl stocks are the best in the digital markets. There is an impressive growth in the NASDAQGS in recent years. According to the valuation model, these stocks are highly valued. NASDAQ: GOOGl, also know as Alphabet Inc., is trading around 13% below the intrinsic value. So, if you buy the Alphabet today, you will get a reasonable price for it.

Why Buy The Googl Shares?

It is better for you if you buy stocks at a lower cost for investment. The online advertising provided by Alphabet Inc. in the United States, Canada, Latin America, the Middle East, Africa, and the Asia-Pacific.

The Alphabet’s stocks are relatively volatile. Therefore the price of their shares may lower. So, you can give you opportunities to buy them later on. Its earningare expected to increase by the rate of 45% in the coming years. It will help in providing high and robust cash flows, creating a higher share value.

Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.