Choose a Pay Monthly Funeral Plan.
Most providers offer a monthly funeral plan payment option. For those of us with limited savings, this offers a way of buying a funeral plan today, at today” prices. In a month or so the cost might be a couple of hundred pounds more. In ten years when the cost may well have much more than doubled. One plan went up 12% in cost during 2015 alone.
But there are monthly paid funeral schemes which are good, bad and moderate. Why get stuck with a bad or moderate one? We are here to help you get the best value for money, at no extra cost. In fact, we nearly always save people money, so much so that we offer a Price Guarantee (details come out with your quote.)
The most common type of pay monthly funeral plan is the life insurance Over 50s Plan (technically a non-profit whole life). They have their place in the market, but why would anyone want to risk losing every penny that they put in if they miss payments, perhaps in later life? It makes no sense to us when a proper monthly payment plan on a proper prepaid funeral plan may cost less, and be inflation-linked too! And fully paid for in 10 years, where most insurance type plans expect you to keep paying until you are 85 or even 90 years old.
The only advantage of the insurance version of pay monthly funeral plans is that you can get ridiculously low premiums which stand no chance whatever of paying the cost of the funeral, But would it not be better to see if you can afford to do a proper job? Proper prepaid funeral plans can be paid monthly over as long as 10 years, which does bring costs down to affordable levels for most people. But costs are rising, so the sooner you get started, the lower the monthly cost.
Pay monthly funeral plans.
It does depend on what you can afford each month, so why not use the form below to tell us and we will let you know if we can help. In many cases, you will be surprised how modest the monthly payments will be over (say) a 10 year period. Some firms offer interest-free instalments over one, two or even three years, and that might do the trick if you have a reasonable deposit.
Monthly funeral plan instalments can be really useful if you want to fix costs now. Much better than leaving the cash in a savings account paying almost no interest. Contrast that with the cost of prepaid funerals over the last 5 years. They have risen by a fraction under half, so what might have cost £2,000 in 2010 would have cost £3,000 in 2015 and in 2016 has already risen to £3,200 or so and maybe to £instalments0. So buying a funeral plan now on monthly instalments may save a great deal of money. Just pay it off in full if you do find the extra funds!