This means once your plan is paid for, that's it. You won't be asked to pay a penny more towards the arrangements included in your plan, which is reassuring to know as funeral costs have risen much faster than inflation in recent years.
Every Traditional and Natural Plan includes a £1,220 contribution towards burial costs
If your preference is for a burial funeral, unlike some other providers, this contribution will increase in line with inflation. Over 15 years, an Age Co contribution that increases by 2% per year would be worth an extra £421 compared to one that does not^^.
Crematorium costs are guaranteed to be covered
If your preference is for a cremation funeral, all Age Co Funeral Plans guarantee to cover the crematorium costs. Traditional and Natural Plans also cover the Officiant's fee equal to the amount paid for a standard funeral service at a crematorium or cemetery as listed in the Church of England Table of Parochial Fees.
Your money is safe, secure and independently managed
The money required for the funeral doesn't go to Age Co or our partner, Dignity. It is put into a carefully managed Trust Fund until it is needed, guaranteeing the services included in your plan can be provided when the time comes. You can find out more about the trust fund here.
The Instalment Promise covers your outstanding balance should you pass away before completing payments°
If you choose to pay for your Age Co Funeral Plan over more than 12 months, and pass away before you’ve finished paying for it, our partner Dignity will cover the outstanding balance. Your loved ones will not be asked to pay a penny more than you’ve already paid for all the services included in your plan. For further information please refer to the Instalment Payments section of the Terms & Conditions.
Unlike over 50s life insurance policies, an Age Co funeral plan provides professional and compassionate assistance for your loved ones.
| Age Co Funeral Plans | Savings Account/ Cash ISAs | Over 50s Life Insurance | |
|---|---|---|---|
| Protection against potential future increases in funeral costs | Yes |
No |
No |
| Protection against rising inflation and low interest rates | Yes |
No |
No |
| Assistance and advice for loved ones arranging a funeral | Yes |
No |
No |
| Access to the services of a trusted funeral director^ | Yes |
No |
No |
| Can be cashed in at anytime‡ | Yes |
Yes |
No |
