Funeral Planning

Average Funeral costs have more than doubled over recent years to around £2,000 depending on where you live. The cost of a Funeral is rising at up to 10% above the rate of inflation. At this rate prices will double every 5 years. This means your savings or Life Assurance may not be enough.

Funeral Plans have been around in various forms for decades and, more than ever, people are recognising the value of thinking ahead and deciding on the details and cost of their own Funeral. Over 650,000 Funeral Plans have been sold in the UK.

Advantages in booking a Guaranteed Funeral Plan

* A Pre-Paid Bond is where the money is held by Independent Trustees and is guaranteed to cover the cost of the Funeral you have already paid for, whatever the circumstances.
* Everything is arranged in advance at a price that you can afford, which is guaranteed not to increase however many years into the future you may need the Plan.
* Your family doesn't need to be burdened with wondering what you would have wanted, or the details of Funeral arrangements at an emotionally distressing time.
* There are no problems caused by not knowing how the Funeral bill is to be paid.
* Funeral Plans do not form part of your Estate and cannot be seized under the Community Care Act. This therefore means that your family will have a larger Inheritance.

Insurance-based Plans

The Insurance-based Plan that only guarantees to pay out an agreed sum (after an initial minimum period) has certain downfalls;

* It may not cover the costs of the Funeral.
* You will never know when you will need the Plan so you could be paying premiums for 20-30 years.


* Even if you have a nest egg put aside to cover your arrangements, this could be whittled away by the cost of care in old age and inflation. Pre-paying your Funeral costs is a sensible investment, protecting your Capital for those you intend to benefit. Funeral costs are rising by over 10% per year, so if your investment growth falls short of this your savings may not be enough. A Funeral Plan is far better an investment than leaving your money in a Bank or Building Society.
* Saving does not guarantee the cost of your Funeral, once you have paid for your Plan everything is guaranteed.

You could consider arranging a Plan that would pay out on the first to die, so that the Survivor would then be able to budget for the future.

Payment for Pre-Paid Funeral Plans can be by lump sum, instalments or a mixture of both. A Plan can be taken out at any age and without any medical details.

A Pre-Paid Plan is cost effective, inflation proof, eases the burden at a time of distress and ensures that your wishes are adhered to and carried out . Also most importantly it shows to the people you leave behind that you were prepared for that inevitable day.

More details and costs are available upon request.