How it works
From first question to peace of mind, in four steps
Setting up a funeral funding plan in Ontario is far less involved than most people expect. Here's the whole process, start to finish, with nothing hidden.
A free, no-pressure conversation
20–30 minutes
We talk by phone, email, Zoom, or Teams about what you want covered, such as a full traditional funeral, a simple cremation, a monument, or a cushion for the paperwork and bills that follow. If you live in Eastern Ontario, I'm happy to come by for an in-person meeting at your home or another place you prefer. I'll ask your age and a few general questions.
I highly recommend bringing your spouse and even your adult children if you want them to have a say in what's going on. Nothing is signed at this stage and there's no charge. Plenty of people finish this call, think about it, and come back later.
Choose your options and how you'd like to pay
A few minutes, usually on the same call
I'll give you real numbers for different amounts, different payment terms, and different ways to structure the plan. My goal is to find something that fits your budget and your priorities, not to sell you more than you need. Every policy is tailored to you as my client.
Then you choose the term: 1, 3, 5, 10, 15, or 20 years, or a single payment, and you choose the policy value. Longer terms mean smaller monthly payments; a single payment settles it in one go. Many of the payment plans are insured from your very first payment, and I'll tell you plainly which one you're on.
We can also add optional pieces here, such as the worldwide travel plan, final document aftercare services, or additional coverage at a low cost.
Complete a short application
About 30 minutes
The application form is one page, and can be completed in person or over the phone or Zoom. You'll name your beneficiary here, the person who receives anything left over.
No plan I offer requires a medical exam, but some may ask a few health questions. I will ask you those questions during our meeting if they are required.
Your plan is secured and your wishes are recorded
Coverage starts as soon as paperwork is finalized
As soon as the paperwork has been finalized, the policy is in effect and you'll have coverage according to the contract terms. Payments come out monthly by pre-authorized debit or credit card unless you've chosen a to pay the policy off in a single payment. Money inside the plan is generally sheltered, may grow on a tax-advantaged basis, and is backed by Assuris subject to applicable limits.
You'll also fill out a Wishes & Memories planning guide, including the songs, the readings, and the people to call, so your family isn't guessing. Then tell them the plan exists. That one sentence to your funeral director is the main administration your family will have to do.
What the money can be used for
This is a financial product built for funeral and final expenses, not a rigid prepaid contract. The funds are paid directly to the funeral home you've chosen and cover the service, the burial or cremation, the monument or marker, the reception, the death certificates, and the unexpected costs that come with them. Whatever isn't spent will go to your beneficiary tax-free, depending on your situation and tax rules. It is paid outside the estate process.
What your premiums are actually paying for
Standard monthly premiums are split into two parts. The larger part goes toward "paying up" the policy, which works much like setting that money aside inside the plan. The smaller part is the cost of insurance, which covers the insurer's risk of paying out the full amount at any time, even if you've only made a handful of payments.
That split also changes as you move through the payment term, in the same way a mortgage payment shifts from mostly interest to mostly principal. Early on, most of each payment covers the cost of insuring the policy. As the years pass, more and more of the same payment goes toward paying the policy up until it's fully paid and no further payments are due.
What happens when my term is complete?
Many people worry that once they've finished making payments, the coverage ends. It doesn't. Think of it like a car loan: you make payments for a set number of years, and once it's paid off, you own the car outright.
A final expense plan works the same way. Once your payment term is complete, the policy is paid up and yours to keep. Coverage is designed to continue according to the contract terms. And unlike a car, the policy does not lose value just because the payments stop.
This is still confusing, can you explain it to me in the simplest way possible?
Think of it as a special savings account for your funeral that is insured and can grow over time.
Say you set a goal to save $10,000 for your funeral over 10 years. The $10,000 is your policy value, and the 10 years is your term length. Every month you set some money aside into the account and pay a small amount extra to insure the account. If you were to pass away before the 10 years are up, the insurance component pays out the full $10,000. Once the 10 years are complete, the money is saved up (plus any growth), you own it, and no more payments are needed.
Exact growth, payout timing, and contract details depend on the specific policy, and I'll walk you through those before you apply.
Starting earlier makes it easier
The process is the same at any age, but the monthly cost is lower and the health questions are easier to deal with when you start in your 30s or 40s instead of your 60s or 70s. If you're between 20 and 50, read why starting young pays off.