Why should you take out a funeral plan?
Organising a funeral at an already difficult time can be both emotionally and financially challenging.
In 2016, the average cost of a funeral was £3,897. This is projected to rise to £4,779 by 2021.* By taking out a funeral plan, you can ensure that some of these costs are covered in advance.
Exactly how much of your costs are covered depends on which plan provider you choose, but most providers guarantee to cover the cost of the Funeral Director’s services. This means you can ‘lock in’ these costs at today’s prices, meaning the sooner you take out a funeral plan, the more money you are likely to save.
There are also additional costs associated with a funeral, such as burial or cremation fees. Different plan providers treat them in various ways. For instance, some providers only offer a contribution toward the external and third party costs associated with a burial or cremation. Likewise, some providers can guarantee to cover these costs, while others exclude them completely. You can find out more here.
Planning ahead also helps save your friends and family additional worry when you die. A funeral presents a large amount of money for your loved ones to find when you’re gone. With a prepaid funeral plan, you can rest assured knowing that you are helping to reduce the financial burden on your loved ones.
It also relieves your family from having to make many of the difficult decisions about your final send off. Your family can avoid painful conversations over what your last wishes were and you can avoid them overspending because you “would’ve wanted it that way”.
The best way to pay for a funeral
You might have already looked at what options are available to cover your funeral expenses. Some of these options may include an over 50s life insurance policy or putting money aside into a savings account. Unfortunately, neither provide the same guarantees and security as an Age UK Funeral Plan, meaning that you could leave behind an unexpected bill for your friends and family. You can find out more here.
What is an Age UK Funeral Plan?
There are many different funeral plans available and it’s important to know that they are not all the same.
Age UK Funeral Plans, provided by Dignity, offer an exceptionally high level of cover, and this is a promise you can rely on.
Unlike some providers, an Age UK Funeral Plan guarantees to cover the funeral services outlined in your plan when the time comes. This applies no matter how much costs increase and how far in the future it might be needed.
When you take out an Age UK Funeral Plan, it guarantees to cover Funeral Director’s fees in the plan as standard. If you choose a cremation funeral, the plan also guarantees to cover cremation fees and Minister's fees^, unlike many other providers who only provide a contribution.
If you would prefer a burial funeral, an Age UK Funeral Plan provides one of the largest burial contributions on the market. This increases each year in line with RPI inflation. Some provider’s contributions remain fixed at the date the plan was taken out meaning your loved ones may have to make up the shortfall.
An Age UK Funeral Plan is also more than just putting money aside. The plans will support you and your family every step of the way. This includes support and confidential guidance from a trusted Funeral Director and access to a 24-hour bereavement counselling service. You can find more reasons to choose an Age UK Funeral Plan here.
All Feefo reviews are gathered anonymously from genuine customers. You can read all of the Feefo reviews here.
99% of customers asked by Feefo to rate the Age UK Funeral Plan are highly satisfied with the product and service.
† Save £136 with Rowan Plan, £125 with Holly Plan, £100 with Ivy and Basic Plans. Savings are based on the difference between the current plan prices: Basic £2,895, Ivy £3,295, Holly £3,650 and Rowan £3,899 and the new prices Basic £2,995, Ivy £3,395, Holly £3,775 and Rowan £4,035 on 15 December 2017.
*From SunLife Cost of Dying Report 2016
^A Minister of Religion or Officiants fee is covered equal to the amount paid for a standard funeral service at the crematorium or cemetery as listed in the Church of England Table of Parochial Fees.