We like the idea of the One Plan: a simple plan based on the premise that 90% of funeral plans don’t actually guarantee everything. BUT we’re not sure how introducing another plan that also doesn’t guarantee everything solves that problem. Simply charging more so there is a bigger reserve for third party costs does not remove the possibility of a shortfall. The average amount set aside (then indexed) in good funeral plans is around £1200 – upping this to £1600 doesn’t mean the problem disappears.
The One Plan Reviewed.
The Wren & Fraser Plan is interesting in that it doesn’t aim at the whole funeral plan market, just at the top end of the standard plans. Typically these plans are defined by providing two family limousines, a reasonably posh coffin and a few trimmings. The One Plan does have one interesting trimming though, on top of their Digital Document Vault.
“One Plans Memory Lane is Offered as part of your Wren & Fraser funeral plan, you can now capture the special moments of your life in your “digital scrapbook” – the story of your life in your words, voice, pictures and video, for you and your family to enjoy. It allows you to store your special
memories captured in a digital format.
Tell the stories of old photographs and video in your own words. Relive the day and memories they portray and share your memories online for your family to share and
add a voice tag to – at any time. Everything you create is set to a private memory which you can then decide to share or memorialise at the click of a button – they can be shared as public posts or in your selected groups.”
We have to say that is a nice touch, but you are paying a premium price (around £1000 more than plans with stronger guarantees) so we feel that there are better ways of spending your money. For that £1000 you get the Memory Lane, £1,600 indexed towards third party costs (but no guarantee on them, unlike with the top plans). For a top range plan, the radius for free collection is a little restricted (but better than some) at 20 miles.
There is an insurance-based version of the Wren & Fraser One Plan, which suffers from the usual drawbacks of Over 50s Insurance Plans – everything lost if you miss payments. In this case, you must maintain payments until the anniversary after your 90th birthday (or die first). It does have a modicum of inflation linking built-in, but 2.2% is wy under half what the average rise in funeral costs has been over the last decade or two.
In summary, we believe their literature would lead you to feel that the plan is substantially strnger in the market place than it actually is. As ever, it pays to read the small print – so call us on 0800 0588 240 as we already have!