Cincinnati Catholic Cemetery Society

dba Cincinnati Catholic Cemetery & Cremation Society

The Catholic Funeral Plan Comparative Analysis

altThis analysis compares the Traditional Method of Funeral Planning versus the Catholic Funeral Plan. More families today are choosing to make these decisions in advance to

  • assure their wishes are carried out;
  • avoid uncertainty at the time of death
  • eliminate the emotional and financial burden on the family.

For all these reasons many families wish to pre-plan for this eventual need; however, many families are afraid to do so because of the many problems associated with Traditional Funeral Planning. The recent article in the January 2008 issue of AARP Magazine "R.I.P. OFF — A funeral industry scandal that’s fleecing thousands of Americans", points out many of these problems. The Catholic Funeral Plan is a funeral planning alternative that gives the consumer a safe, sensible and secure choice for planning their funeral in advance, and eliminates all of the problems and disadvantages of traditional Funeral Planning

Funeral Home

 

Catholic Funeral Plan

  • Out of business
  • Funds given to Funeral Home
  • Ownership, neighborhood, staff changes or poor service
  • Relocation

CONTRACT REQUIRED:

  • Irrevocable
  • Planning fee may be assessed
  • Flexibility limited
  • May be contract penalties
  • All funds go to Funeral Home even if they exceed cost of funeral
  • Family may not know details

FINANCIAL:

  • Funds controlled by Funeral Home
  • No disclosure of disposition of funds
  • May have taxable consequences
  • No accountability
  • Generally no disclosure of amount of funds at time of death
  • Funds may not be invested at all
  • Funds may be invested in high risk investments
  • No independent oversight of funds
 
  • Decisions permanently recorded
  • Funds are kept separate
  • Flexibility to change Funeral Homes, location, arrangements
  • Totally portable nationwide

CFP NO CONTRACT REQUIRED:

  • May be made irrevocable in order to qualify for Medicaid
  • No fees
  • Totally flexible
  • No penalties
  • All excess funds paid to family
  • Family informed of details

CFP

  • Family maintains control
  • Full disclosure to family on distribution of funds
  • No tax consequences
  • Full accountability
  • Full disclosure of amount of funds at time of death
  • Funds in insurance policy
  • Investment of funds regulated by each state
  • Independent 3rd party review