A Funeral Plan is a means by which to protect your family against rising funeral costs, and to eliminate any uncertainty or indecision regarding what your preferred funeral arrangements should include.
The passing of a loved-one is obviously a very daunting and emotional time for family and friends. For those responsible for arranging and paying for the funeral, discovering their loved-one had the foresight to take out a Funeral Plan goes an enormous way towards alleviating their sense of pain and distress.
You have the choice of either paying a lump sum or monthly instalments, usually over two to twenty five years. One-off payments usually range between £3,000 and £5,000.
To safeguard your plan, your provider will either place it in a trust fund or invest it in an insurance policy that pays out when you die. The Financial Conduct Authority doesn’t directly regulate Funeral Plans, but it does have rules to safeguard your money if it is placed in a trust or invested in an insurance policy. There is a professional body for providers called the Funeral Planning Authority (FPA), which has a code of conduct that all of its members must comply with. As part of the code, the FPA’s members and the FPA itself pledge that if a provider goes bust they will look into paying for funerals that are covered by Funeral Plans.
Yes, all of our pre-paid Funeral Plans allow you to stipulate whether you would like to be buried or cremated. If you wish to be buried, you can make an allowance towards your burial plot or speak to our customer services team and we will help you with the process.
Yes, you can nominate which funeral director you wish to use. When the time comes, we then contact them first to carry out the services. Please note, we cannot always guarantee that the funeral director will accept the booking. In these circumstances, we will appoint a funeral director local to you, from our panel of providers.
No, many insurance companies require a medical exam, but we do not.
Yes, you can buy a Funeral Plan on behalf of anyone you choose.
Yes, you can spread the cost of your Funeral Plan over any term, up to a maximum of twenty five years.