Funeral Plan Prices UP.
Why are funeral plan prices up yet again?
There are lots of reasons:
- Doctors fees have risen to £152.
- Ministers fees about to increase by 50%.
- Increased environmental controls.
- 8.7% annual inflation in funeral costs.
At the Prepaid Funeral Review, we believe this trend will continue, and the only time to save money by moving some of your savings into a funeral plan is (always) NOW – before prices go up yet again.
In many cases we have special arrangements which give us access to “old” prices for a few weeks after the public start paying the new higher prices. But the privilege is limited, and we still have to get applications in pretty quickly.
According to research by Dignity, of people considering buying funeral plans delay:
- One third take more than a year to make a decision (and costs rise by £200+ per year.)
- 19% take between 6 and 12 months to decide (extra costs probably £150.)
- 23% take between 3 and 6 months (extra cost £75 to £100.)
- 25% take less than 3 months to decide and usually save a lot of money!
For a couple, the cost of delay doubles, so it really is worth getting on with it quickly if you have the funds available. Your savings are probably earning 1 or 2% as against funeral plan prices rising at a current average of 8.7% a year.
Which is the better investment? If you can, buy now before funeral plan prices rise even more. Even if you don’t have the funds, you can pay for many of the plans over a prolonged period. Many funeral plan providers offer interest free credit over 12 months and relatively low interest rates over as much as ten years. If you put down a good deposit, that will keep the monthly payments as low as possible.