Prepaid Funeral Plans and BestFuneralPrices.co.uk
BestFuneralprices is an independent comparison service. We help individuals find the most suitable Prepaid Funeral Plans or Funeral Insurance to fit their personal requirements and budget.
We work alongside some of the leading funeral plan providers in the U.K. Which enables us to find you the best rates available.
We do not take any upfront fees. Therefore you are able to compare plans with us without any additional costs.
How Do Prepaid Funeral Plans Work?
A Funeral Plan Allows you to freeze the cost of a funeral at today’s price.
Even if the death occurs 20 or 30 years from now the price will remain the same.
A plan can allow you to pay in small affordable amounts each month, or alternatively in one lump sum.
The plan covers things such as a religious service as well as transport, burial or cremation costs.
If you are looking to receive a quotation, fill in our quotation form located on the Home Page.
Why Should I Consider a Prepaid Funeral Plan?
The loss of a loved one is always a tremendously stressful life experience. However, it can be made worse if having to deal with the financial burden of the funeral.
Funeral costs are rising year-on-year, with an average funeral currently costing between £2,500 and £4,300, and that is without including any additional services.
However, having a funeral plan in place can mean that you receive both the service you want, and the cost of the insurance policy for a funeral will be fixed at today’s prices.
How Can Prepaying a Funeral Plan Be Cheaper And I Still Get The Same Service?
Most Funeral Directors charge a high street price and rely on the local people for walk through business.
A Large percentage of people only visit or contact a funeral director when they are in need of a service “after” a family member has passed on.
In the urgency of the moment and knowing you have limited options Funeral Directors may charge a high street price which is usually a fixed cost and, in most cases, require full payment.
If you should “pre-organise” your funeral you will get the best rate as there is no urgency and your options are open to choose which funeral director you want to use.
It's very simple the price varies on depending at what stage your funeral gets paid and the service remains exactly the same.
Do Funeral Directors Offer Prepaid funeral Plans?
Yes, Funeral Directors can offer prepaid funeral plans. However, they may not give you the luxury of spreading the cost over a certain amount of years and most probably require a lump sum payment upfront.
Some Funeral Directors have an agreement to sell usually one plan providers plans which means you do not get the option of choosing a funeral plan provider which is suited to you, this also means you will not benefit from price comparisons.
Some Funeral directors charge a fee to put a prepaid plan together for you.
What Is Included In a Funeral Plan?
This can be dependent on the type of cover you take, but this can include the following:
- Funeral Director’s costs
- Cremation fees
- Transport to and from the funeral service
- Minister’s fees
- Cost of a limousine vehicle
How Much Does a Funeral Plan Cost?
A funeral plan will cost around £2,500 to £4,300.
With a pre-paid funeral plan you have the option of paying in monthly instalments, this starts from as little as £20 a month.
Most pre-paid funeral plans also offer the option of paying all at once.
Does It Cover Everything?
This would depend on the plan you take, some plans may not cover costs such as, Flowers, Bigger Coffins etc, but they can always be customised accordingly.
Is a Funeral Plan Safe?
Yes, when you take out a funeral plan policy, the plan is protected by a Trust Fund.
Your provider places your contributions into a secured trust fund which becomes payable once the policyholder has passed away.
So regardless if the business should go Bankrupt the Trust Fund will remain intact and your money will be secure.
The Financial Conduct Authority also regulates providers, this is through the Funeral Planning Authority, which is the official governing body for funeral providers, and they have to adhere to the code of conduct that is set in place.
Can Anyone Take Out a Funeral Plan?
Yes, if they are above the age of 18.
What Happens If I Die Whilst Paying Into A Funeral Plan?
If a person passes on during paying into a Funeral Plan without clearing the full amount of the plan. This would result in a family member having to pay the remainder of it in full.
But there are still benefits to this as the remainder will still be at the fixed amount it was when you took out the plan and not the price it is when you pass on.
Also compared to the next best product - Life Insurance, which pays out in full at the event of death, you may still be better off with a Funeral Plan. As most people with insurance are left with a greater deficit on the day of a funeral than a person with a funeral plan. for example,
Life Insurance only covers you for a specific amount without freezing the cost of the funeral. It does not accommodate for the rise, so cover which may be suitable to cover you at the time of applying may not be the case in the future. Life insurance does not freeze the rising Funeral Costs. You may pay more into Insurance than the cost of a Funeral Plan over time. Usually Life insurance pays a fixed amount which may not cover your funeral cost due to the rise.
What Happens If I Stop Paying For My Plan?
This depends on the policy and the plan provider.
Many prepaid funeral plans will not pay out in the event of death if you stop paying into the policy.
What If My Plan Provider Goes Bankrupt?
As part of the Funeral Planning Authority (FPA) code of conduct, all FPA members, as well as the authority itself, pledge that in the event of a provider going bankrupt, they will look into paying for funerals covered by funeral insurance policies.
Do Plans Apply For Cremation?
Yes, each type of policy will vary in the type of cover for a cremation.
A cremation can include the following:
- Costs for attending the funeral
- Confidential advice on the cremation service
- Supplying a coffin
- Costs of a cremation as well as doctor’s fees