What is a funeral plan?
A funeral plan is essentially a promise to deliver a funeral at a date in the future. In recent years funeral costs have risen faster than inflation, which means purchasing a funeral plan allows you to fix the cost of the services in your chosen plan at today’s prices.
Funeral plans also allow you to make special requests and wishes for the funeral, such as music or readings, to ensure your loved ones arrange the funeral that you want, when the time comes.
Are there alternatives to a funeral plan?
Some people consider over 50s life insurance policies, ISAs or savings accounts to cover the cost of their funeral. However, these can prove unreliable in covering funeral costs as they don’t take into account the rising cost of funerals.
You could also end up paying in more than you would be paid out – which in turn could lead to further funds being needed when the time comes, putting additional stress and burden on your loved ones.
For total reassurance for yourself and your family, a funeral plan is one of the most practical choices.
What are the benefits of a funeral plan?
- Fix the cost of the services in the plan at today’s prices to protect you and your family from any future increases in funeral costs
- Pay in a lump sum or over a number of instalments
- Specify your personal funeral wishes – items such as music, flowers, dress code, readings and location can all be recorded as part of your plan – some requests may incur an additional cost and may not be covered by the funeral plan so ensure you check with the funeral plan provider in the first instance
- Peace of mind that your funeral arrangements are all taken care of
What should I consider when buying a funeral plan?
- Is the funeral plan provider registered with a professional body like the Funeral Planning Authority?
- What services are covered by the plan, and does this meet your needs?
- Is the cremation fee covered in full, or is there a contribution towards the cost only? If a contribution, how much is it and will it rise in line with inflation?
- What happens if you move to another part of the country?
- What are the cancellation arrangements, in the event that you wish to terminate the contract at any point in the future?
- Does the plan give you access to a professional network of owned and approved funeral directors?
- Where is your money held, and is your money secure?
- What happens if your funeral plan provider goes out of business?
We offer a range of funeral plans. Contact us today for more information and to discuss your individual requirements.