Capital Life Funeral Plans Reviewed
They are relatively new to the market and have a range of five plans covering most peoples needs and wishes. We have reviewed their plans, but without chatting things through with you, we don’t know whether they are suitable for your purposes and location. Everyone’s needs and wishes are different. Why not give us a call on 0800 0588 240? There is no charge or obligation for our service, all we ask is that, if you accept our recommendation, you use the forms we supply so we earn something for our efforts in keeping our research up to date and helping you.
They have a range of five funeral plans:
- The Capital Life Simple Plan. This is a direct cremation plan, which means there is NO family involvement whatever once the deceased has been collected. Current price is £1,795
- The Capital Life Ceremonial Plan pays for the funeral directors services, leaving the family to find the third party costs at the time. Much better than no funeral plan at all, and a type of plan offered by most providers. Sadly, sometimes sold to people who don’t understand its’ limitations (and I don’t mean by Capital Life, just salespeople assuming clients read brochures and terms and conditions carefully when most do not). Price is £2,395 (all at January 2020).
- The Capital Life Traditional Plan is just what it says – the standard type of funeral plan with an allowance towards the third party costs (crematorium, doctor, celebrant). It also adds a slightly posher coffin. This is the type of prepaid funeral plan most people buy. Price is £3,475.
- The Capital Life Royal adds a posher coffin and a limousine for the family. Price is £3,775.
- Their top of the range is the Imperial Funeral Plan which offers two limousines and an even posher coffin. Price is £4,045.
What are Capital Life Funeral Plans Third Party Fees or Disbursements?
Third-Party fees (usually referred to as “disbursements”) are costs that are necessary for a funeral to take place but are not included in the services provided for by a Funeral Director. The third-party fees include any fees payable to doctors or a Coroner for the issue of death or cremation medical certificates, or Coroner’s certificates, the cremation or burial (interment) fees as well as the Minister or Celebrants fee to perform the service at the Crematorium or Cemetery or Graveside.
Third-party fees can vary widely between different Crematoriums, burial sites, ministers etc and circumstances of death. So Capital Life gives what they consider a generous allowance, which will go towards these specified fees. If at the time of death the allowance is insufficient to cover these aspects then there may be additional costs to pay by you or your representatives. There is less likely to be a shortfall if you allow them to chose the funeral director, as like most providers, they can probably get a better price than you.
Who owns Capital Life Funeral Plans? Link to their details on Companies house so you can look at their structure, ownership and finances.
Where does the money go when folk buy Capital Life Funeral Plans?
Your money is paid into a secure Trust Fund that is completely independent of Capital Life. A panel of Independent Trustees manage the funds to ensure long-term growth in accordance with the current legislation as set out in the Regulated Activities Order (Financial Services and Markets Act 2000), under Article 60.
Alongside the Trustees, leading independent professionals have also been appointed to advise and manage the Trusts funds on behalf of Capital Life plan holders to protect future payments to Funeral Directors.