Prepaid Funeral Plan Reviews: BAD & GOOD NEWS!
A friends mother died recently. The funeral cost £4,795. At the same time, the exact same funeral as a prepaid plan, with the same undertaker would have cost £3,250. Imagine the difference if she had gone in 10 years time. At a modest 4% annual increase, it would cost £7481.67 then. But back to changes in the market:
Two major players have put prices up so far this year – one by a stonking 10%, the other a more humble £100. Take advantage of 2019s lowest prices before the rest follow!
2019 was shaping up to be potentially a good year for clients of the Prepaid Funeral Review with more competition keeping prices down. Or, to be more accurate, slowing down the rate of increase! Funeral Plan companies are also trying hard to improve their offers – some offering discounts, others adding additional guarantees, at least to cremation plans. Some are also quietly removing benefits. The Direct Cremation market (with no ceremony) is growing too; it is much cheaper, but certainly only for a small group of families and friends who truly understand how they work. It is great that competition is leading major brands to review their operations to maintain market share against the new breed of funeral plan companies, some of who market their products just by paying higher fees to salespeople. Where such a plan is truly competitive (and it does happen), we reduce the cost to you where we are permitted by contract to do so.
Who needs professional advice?
For the unwary, I have just discovered a seriously awful plan which looks quite attractive until you read their blurb very carefully. Their plans are called Inflation-linked Cash Funeral Plans. Sounds great until you discover that the maximum inflation rate they allow for is 2.4% (well under half funeral cost inflation). To make matters worse, once the “interest” is added, it is NOT inflation-linked, so you will steadily fall further and further behind even basic inflation. In effect what they are offering is an appallingly bad savings plan. And they say they are Regulated – but I suspect a savings plan is not! Take the monthly option and things get worse. You have been warned! Incidentally, we have complained to the FCA as the firm in question are implying that they are regulated. I wonder if they will do anything?
Regulation could be a mixed blessing.
In the financial services sector, there is now much less competition, many excellent products have all but vanished and the availability of advice has been cut by more than 90%. The quality of advice is probably better – for those who can afford it! Let us hope that the Regulation of Prepaid Funeral Plans – which must be welcomed – is proportionate, cost-effective and actually helps all consumers rather than the wealthy. According to the rumour mill, the Financial Conduct Authority sadly is likely to take charge. Let us hope they have learned from their decimation of the personal financial advice sector! As one of a tiny breed of Independent Funeral Plan advisers, we should in theory benefit, but past experience has not supported that.
Funeral Plan Improvements.
More good news – the number of truly competitive products on the market is going up! The Funeral Plan Review teams job is getting harder – one day there were 3 major changes which needed to be checked out! Some products and firms are a little too new to judge, others are solid long-standing funeral plan providers who have added specific guarantees to their cremation plans. It makes a change to have good news, and with one of the top funeral plan providers has set the cat amongst the pigeons by dramatically cutting prices (but they are going back up again soon!) I
But back to advising on funeral plans: are you ready to go ahead? Or just thinking? Chose option 1 or 2 below:
Incidentally, SunLife’s 2018 Cost of Dying Report reveals that the cost of an average funeral is now £4,271. That’s an increase of 122% since 2004 – well above inflation. At that rate, in another 10 years, the average cost of a funeral could be over £7,500**.
1) Proper Personal Recommendation? Click here or call us.
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2) Just generally interested, something for the future?
Click here and we will send “How to choose a Funeral Plan” and a generalised quote.
Moving on, for more details, have a look at the menu above, then read on…
No plan covers everything, so you need to know what you want:
Almost every other firm that sells funeral plans advises on only ONE company’s plans when there are at least 19 main firms supplying them, so you have, at best, a one in nineteen chance of getting the most suitable company – never mind plan! There are dozens of other firms who “badge” the products of those underlying companies.
Client review of the prepaid funeral plan review service.
Non biased advice – Well worth talking to these people.
I wanted a prepaid funeral plan but didn’t know where to start looking as there are so many out there.
Then I found this gem, The Prepaid Funeral Review Service. And what a find. They asked me what kind of funeral I would like and then based on my answers, they sent me details of two companies which offered just what I wanted. They encouraged me to ask as many questions as I needed (I had quite a few) and explained everything to me in simple terms so there were no misunderstandings or ambiguity.
I took out one of the plans they recommended and I am very pleased I did. I can’t fault their customer service and helpfulness. I would recommend this company as the place to start if you are looking to purchase a prepaid funeral plan. Well done!
Types of prepaid funeral plans:
The market has become a lot more complicated with companies introducing new plans which include less and less just to keep the cost down. Make sure you REALLY understand what you are buying. Best way is to call us! What follows is a very basic description of the types of plan available.
- Over 50s Life Insurance: these dominate the market and are usually quite unsuitable. Typically, there is no inflation proofing, unless you keep taking out extra policies. Worse, if you miss a couple of payments – you lose every penny. Some of them very graciously say that they won’t take more money from you than they pay out. So you can be making an interest free loan to the insurance company for 30+ years. BUT there are a couple which do actually pay for the funeral and do cover increasing costs. But they still suffer from the problems of losing the lot if you miss a couple of payments, which is far from ideal.
- Direct Cremation Prepaid Funeral Plan Review are another area where those that invest without understanding can be laying the seeds of upset for those left behind. They are cheap, but not only you but your friends and families need to fully understand them.
- Funeral Directors Fee Funeral Plans Review. At the moment the typical cost of a funeral is around 60% the funeral directors fees, and perhaps 40% for third-party costs. These are mainly crematorium fees, doctors and minister/ celebrant to run the service. With burials, the cost of the plot may be an additional cost of some size. Church fees and the extra undertakers staff time are more too. Those extra costs will have to be found before the funeral can take place. So, once again, you need to be sure exactly what you are buying or those left behind may be shocked when they discover just how much is left to pay.
- Cut Down Cut price funeral plan reviewed are a mis-selling scandal waiting to happen with folk buying “cheap” plans without a full understanding of why they are cheap. Read the article. They are typically a few hundred pounds cheaper than a standard plan. We do not like them at all. Why? See the next paragraph. This type of plan does not allow for burials. Cremation only Cut Down Plans use cheap time at a crematorium which could be (often) up to 50 miles as the crow flies from home. Worse, the service will typically start no later than 9.30 am on a Monday to Friday to suit the undertaker. So it just could be impossible for family and friends to attend, especially if they need to use public transport. Of course, for some people with a cheap crematorium (not owned by Dignity is a good start) round the corner, they will work out fine. But we recommend not taking the risk, and we can sort out an affordable alternative.
- Standard Funeral Plan Reviews. These typically guarantee the funeral directors fees (maybe 60% of the cost). However, they don’t normally guarantee the third party costs will be paid in full. Most make an allowance towards that cost in the range of £840 to £1,220. Some will index that contribution in line with CPI or RPI, and one just invests the money and you get whatever return it makes, good or bad. Costs intended to be covered are typically crematorium fees (or the cost of digging and refilling a grave you already own), doctors fees (where payable) and a fee for a professional leading the service. Typically flowers, printing or advertising are not covered, nor is the cost of buying a grave for burial (in any plan we know of).
- Standard Plus Prepaid Funeral Plans Reviews. These usually add a limousine to the standard one, sometimes a bit of extra gloss on the coffin.
- Deluxe Plans Prepaid Funeral Plan Reviews. They typically provide two limousines, a posher coffin and maybe a spray of flowers. Sometimes they will add other bits and pieces of modest value, but these vary too widely to generalise.
- Bespoke Prepaid Funeral Plans can be tailored to your specific needs – including environmentally friendly funerals, space flights, you name it! Just don’t expect them to be cheaper!
So why not take advantage of our expertise on prepaid funeral plan reviews and give us a call? Even the call is free!
We are not tied to any providers (unlike most). We won’t hassle you or pass your details to third parties. We can almost certainly save you money, perhaps a lot. And you might find our Bonus Vouchers really relevant!
Why not call us on 0800 0588 240?
5 minutes could really make a difference.
Fast Approaching – the Prepaid Funeral Plans Price Rise Season.
Price rises can easily be avoided by acting now, rather than delaying. Even if that means paying over time (up to 10 years – you can always pay them off early). We really can’t see prices going down. That said, one of the big mistakes people make is to be rushed into buying just because of a price rise! Being pushed into buying an already expensive plan which may be far from the best is not sensible. So call us first, for genuinely independent advice. It is a free 5 minute chat, without obligation. At worst, it will help you decide what you are looking for in a funeral plan. Please leave a message even when the office is closed: we will get back to you. The 5 minutes talking to us could save a great deal of time, money and grief for those left behind. And we read the small print for you!
Alternatively, download our brief booklet and enquiry form and send it back to us when you are ready. Or there is a more detailed online form at the foot of this page.
Free independent help to get the best value prepaid funeral plan + our price guarantee Call us on 0800 0588 240 for a 5 minute chat and best advice!
There has never been a better time to invest in the security and comfort of a prepaid funeral plan before prices go up further – but our independent advice is more important than ever.
Why not contact us today? Or ask for our brief Guide.
Ask for details of our Best Price Guarantee and bonus package which is available as a free extra with many plans (but not all).
Why the Prepaid Funeral Plan Review?
There are lots of varying features on which to choose prepaid funeral plans. Some plans have a tremendous sales pitch and massive disadvantages, others have modest features which can make all the difference in your precise circumstances – but be pointless to another person. It is about in-depth knowledge and finding out what you need. The Prepaid Funeral Plan Review team will help you decide which of these issues matter most to you so that you can make an informed choice and make the right choice of plan for your unique circumstances. Too many people buy from the first leaflet they come across, or send off for lots of brochures (and then get totally confused!) The Prepaid Funeral Review even offers a personal advice service if you don’t have the time and expertise to study each plan in detail.
Rather than the first funeral plan you come across, which may not be the most right one for YOU, why not let us guide you through the maze of funeral plans?
Prepaid Funeral Plans Reviewed. Funeral Plan Reviews.
- trust funeral plans
- pure cremation
- burial at see
- fair price funeral
- safe hands
- golden leaves
- funeral planning authority
- guaranteed funeral plans
- plan my funeral
- royal london funeral plan
- cheapest funeral plan on the market
- perfect choice
- capital life
- golden leaves green
- neptune society
- burial at sea
- no stars
- post office