Funeral Plan Concerns Grow with the wider choice of plans…
Funeral plans are great – as long as you understand what you are buying! None of the following plans are bad plans, they are just unsuitable for most people! All of this shows why you need our independent advice and should not rely on a company sales pitch. And you should never sign up without reading the small print. That is where the disadvantages of some funeral plans are hidden, and with the wide range of funeral plan choices, you need help…
Sadly many people don’t take the trouble to read the small print. Here are some common issues that people miss when they buy a plan:
- The plan isn’t a funeral plan at all, it is a life insurance which has no value if you stop paying it.
- Some plans only cover the Funeral Directors fees with nothing towards the third party costs such as the crematorium. That alone can be £995 if it is a Dignity one (as at August 2017). These costs are typically around a third of the total. Again, no problem, and much better than nothing as long as the family know. The allowances in prepaid plans range from £500 to around £1,200. In most cases, that is linked to inflation.
- You’ve bought a Direct Cremation plan, so you will be whisked away and cremated perhaps hundreds of miles away with no chance for the family to see you, or attend the service. These are the plan of choice for some people, but do the people who would wish to attend the service know, or are they going to be shocked and upset?
- There is a new breed of cut cut down plan which typically saves you £400 but could result in your funeral being anything up to 50 miles away at 9.30 in the morning. Not wildly convenient for family and friends! We think they are a marketing gimmick and very rarely best advice. Typically the saving is accomplished by giving you no influence over choice of undertaker or the location of the cremation. These plans are usually only for cremation.
- Burial Plans – in our experience – NEVER include the cost of the burial plot, and not all family plots are able to accept further family members. Burial plots can vary from a few hundred pounds to many, many thousands.
- Please do not treat a funeral plan as if it was a savings plan.
Many of the plans we advise on are very flexible, and you can change the plan by adding limousines, or changing from a direct cremation plan to a standard plan – as long as it is done in time.
For a more detailed look at the types of funeral plans available, have a look at this article. But if you just want straightforward advice, give us a call or use the form to the right.