In general funeral plans offer similar things but only by reading and understanding the detail will you realise that some offer a more comprehensive funeral service than others.
Our funeral plan review will help you understand the differences, so you can work out what funeral services are important to you and what are just gimmicks best avoided.
All funeral plans fully guarantee your funeral directors costs which means there should be nothing left to pay for the services included in the plan when the time comes. Here are the key points to look out for:
In addition to the funeral directors costs, there are also the essential third party fees which include your burial or cremation costs, the minister’s fees and the doctors fees. We will help you see which companies pay a contribution towards these additional funeral costs and which fully guarantee them.
This section of our funeral plan review will help you understand the size and spread of the company across the UK, along with information on how long they have been in business.
If you are paying in advance for your funeral service with a prepaid funeral plan it is essential to know that your money is safe. So as well as guiding you through what each funeral plan provider has to offer, we will also point out which companies are registered and regulated by the Funeral Planning Authority (FPA) so you can be sure your money is safeguarded.
Most funeral plan providers offer between 3 to 5 types of funeral plan, providing varying degrees of service. We will explain how each work but essentially you will find the following:
Base Plan:This type of funeral plan will usually guarantee the funeral directors costs but provide no provision for the third party costs. These additional funeral costs will therefore need to be paid for by the family at the time of need.
Simple Plan: Some funeral plan providers now offer plans that provide the funeral directors costs and either an allowance or guarantee for burial or cremation costs but have some limitations such as the time the funeral service takes place.
Standard Plan: Provides a guarantee that the funeral directors costs are covered plus either an allowance or guarantee for burial or cremation costs. The standard funeral plan usually comes with a standard coffin and no limousine.
Midrange Plan: Provides a guarantee that the funeral directors costs are covered plus either an allowance or guarantee for burial or cremation costs. The midrange funeral plan usually comes with a midrange coffin and one limousine.
Superior Plan: Provides a guarantee that the funeral directors costs are covered plus either an allowance or guarantee for burial or cremation costs. The superior funeral plan usually comes with a high quality coffin and two limousines.
Most funeral plan providers offer a range of payment options which can include the following:
In Full / over 12 months – This is the cheapest option with most funeral plan companies offering no charge for spreading costs over 12 months.
Instalments – the instalment terms can vary from company to company with monthly payment options between 1 and 25 years. The additional fees also differ so we will point out the ones which are more expensive. With some providers you also have to pay a deposit upfront.
Fixed Monthly Payment Plan – Some funeral plan providers also offer a fixed monthly payment plan if you are between the ages of 50 and 80. You pay a fixed amount monthly which is based on your age and level of service required which is payable either for life or until you are 90 and are covered for your funeral services after the first two years. There is a chance with this type of plan you could pay in more than the cost of the funeral service; it all depends on how long you live.
FUNERAL PLAN REVIEW – OUR VERDICT
We will end each review with a summary on what we think to the plan compared with others on the market, highlighting the salient points so you know what to look out for; these pros and cons will help point you in the right direction, but don't forget you can call us at anytime to ask questions on 0800 133 7380.