Open Prepaid Funeral Plans.
Open Funeral Plans are a relatively small player in the pre need market. Their marketing is based around the transparency of their charges. They charge a flat fee for setting up the plan, but what they don’t point out is that the separate funeral plan Trust which manages the fund has its’ own costs to meet, and its’ own staff to pay. To be fair, this is just the same as any other prepaid funeral plan firm will have similar arrangements in place to protect your investment. At least, in the UK! Prepaying your funeral is an important matter, not to be taken lightly as many do (and often buy the wrong thing, which is why you need our independent advice!)
That is not intended as a criticism, just a reality check that every provider will promote what they consider their best features. Every decent funeral plan firm has a special trust fund to protect your assets, that is a standard feature.
However, what is really important is the overall package. And that is where out advice can save time, money and provide better value. Open funeral plans are good plans, but they may or may not be right for you.
Open Prepaid Funeral Plans pitch:
“Open provide a totally transparent and secure method of planning your funeral. We are committed to the provision of your funeral through your chosen Funeral Director.
Our Trust Deed has been created in such a way that it protects both you and the Funeral Director who has arranged your Open Prepaid Funeral.
By choosing an Open Prepaid Funerals Limited Plan you are ensuring that your funeral costs are not being eroded by unnecessary administrative charges.
Open Funeral Plans differ from other plan providers by being just that – open. We do not deduct an administration fee from the plan price, the full amount paid for your funeral in your prepayment plan is deposited into the trust fund. Our administration fee is detailed separately and is a fixed price, regardless of your plan cost. It is not a percentage, it is a one-off fee for the term of your plan.”
Open Funeral Plans – our Review.
Open Prepaid Funerals are a perfectly good small player in the market, and part of the panel of decent firms we consider before making you a recommendation