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Have you planned your own funeral?

We have written before about the costs of funerals and reviews that are taking place to find out the reason for the increase in costs over the last few years.

One way of preventing the cost of your funeral from escalating is to put in place a funeral plan. Research shows that the cost of funerals has gone up by 50% in the last ten years. Many of you might say that you have insurance to cover your funeral but do you really understand what you get from the different types of services on offer.

You may often hear about an "over 50s plan". This is a type of insurance policy that you put in place to cover any funeral costs that you may have. On death the plan pays out to a nominated person so that funds are available to clear any costs. However did you know that these plans often result in you paying more in contributions than you would actually need for your funeral? Over 50s plans are based upon a monthly, affordable premium. This premium is however payable from when you take out the plan until when you die. If you take out you plan at 50 and pay £15 a month until you die at 90 you will have paid a whopping £8,640. Unless you are being buried funerals rarely cost this much but if you read the small print carefully you may find that the plan will only pay out for the exact cost of the funeral with the overpayment staying with the insurance company.

A funeral plan works in a different way You have a choice of plan that you can purchase from a funeral plan provider. This will range from a basic plan up to a premium plan. You can pick how many cars you want, where you have the service, which funeral director you use, what flowers you have, the songs you sing and anything else that you may want to arrange. You pay a one off fee for the plan of your choice. Once you have paid the premium your plan is then in place for your death. There are some expenses which may not be covered by the plan such as vicar and church fees or internment fees.

I know from when my nan died that, despite how close we were, I really had no idea what she wanted for her funeral. It was only a couple of months later that we discovered in the back of an old note book a list of songs that she had written she would have liked to have been played. For me arranging the funeral was one of the hardest things I did. I wanted to give her the best send off I could and make sure everything was perfect. I really struggled in the funeral directors with making the simplest of decisions because I was grieving for the loss I felt. For me a funeral plan would have helped with the final job that needed to be done so I was sure that my nan had exactly what she wanted.

If you are thinking about making a funeral plan or care for someone that ought to put one in place give us a call as our team can help with this.


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