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Prepaid Funeral Plans
A prepaid funeral plan allows you to pay for a funeral way ahead of schedule – covering most of the costs for the day. Sorting this big expense is, most certainly, a relief, but there are several other advantages to a funeral plan than meeting fees ahead of time.
Such packages allow you to create your ideal funeral for a price that isn’t jaw-droppingly absurd. Everything you need to know about funeral plans is right here in this guide, including why purchasing one should be top of your to-do list.
The rising cost of funerals
Stepping out the door to attend a funeral is not an easy thing to do. Unfortunately, in today’s world, paying for a funeral is even more difficult, at least from a mainstream perspective. Over the past decade, funeral costs have rocketed, and they show no signs of slowing down.
Reports for 2016 consistently put this trend in perspective. Current trends dictate that millennials will be forced to pay as much as £15,000 for their funerals and associated costs.
Let’s consider that number again for a second – £15,000. That’s astonishing, by anyone’s standards.
The price of dying in Britain has never been higher, yet it’s still increasing at a faster rate than almost any other type of expense. And, because the country has succumbed to a debt-inheritance domino effect, it places unprecedented financial strain on those who simply want to wish their loved ones a fitting goodbye.
It all sounds very daunting and unjust, doesn’t it? But here’s the good news: it’s completely avoidable. Funerals aren’t going to hit a price ceiling for the foreseeable future, but that doesn’t mean you have to pay the max figures. It’s all a case of getting a prepaid funeral plan in place.
These packages promise an affordable ceremony that doesn’t compromise on quality. In short, they give people the funeral they always wanted, without leaving their loved ones in a financial quagmire.
Freeze those fees
As funeral prices ascend higher and higher, Britons are left in a bizarre position. The longer we live, the more we have to pay when we do eventually pass away. This is wrong on so many levels; there’s no point trying to make sense of it. Instead, you can simply sidestep the absurdity once and for all by opting for a prepaid funeral plan.
Unlike the astronomical funeral fees in the United Kingdom, funeral plans make perfect sense for some people. They allow you to cover most of your expenses on the day and secure some protection from rising costs across the funeral industry, forever. When you purchase a prepaid funeral plan, like those available from Dead Right in partnership with Golden Leaves and Golden Charter, your funeral director fees are frozen. Locked forever.
This means if you buy a plan for £4,250 today, for example, the funeral director expenses will be covered forever, no matter how much prices rise. Bear in mind however, that third party costs may rise (minister fees, crematoria fees etc.) and most funeral plans make a contribution to these expenses – known as ‘disbursements’ but rarely guarantee to cover them entirely.
What’s more, these price-protected funeral plans can be paid for in a manner that suits you now. You can get the whole expense out of the way immediately by paying a single lump sum, or spread out your fee with smaller monthly instalments. It’s entirely down to your means and situation. With a prepaid funeral plan, it’s you who controls what you pay for.
Design the perfect goodbye
A lot of people don’t like to think about their funeral, and may feel even more unsettled by the idea of a loved one’s end-of-life ceremony. While it can be an intimidating topic to chew over, shelving conversations about death doesn’t make it go away. Ignorance can only be bliss for so long. When the time arrives, wouldn’t you prefer everything to be in place and ready, rather than a pell-mell scramble to fulfil final requests and wishes?
Take a deep breath, get down to brass tacks, and discuss death as soon as possible to make the future feel so much brighter. A funeral plan enables you to design the perfect goodbye, tailoring the ceremony to your exact specifications. Transportation, venue hire, themes, readings, songs, dress code… you can specify your wishes in advance with a funeral plan which can be implemented on the day in finger-snap speed. Once you have a plan in place, make sure you tell your family so they know who to call when they need to call on the plan.
Picking the right plan for you
You might think you know what your loved one wants when they die, and vice versa. But when you sit down to have that conversation, there may a surprise in store. The only way to truly know – to thoroughly burrow into their wishes – is to talk. When everything’s settled, it’s time to put these ideas in the pipeline by building a funeral plan.
There are several prepaid funeral plan packages available at Dead Right – each catering for different tastes and budgets. All can be tweaked with special requests, remaining completely flexible and adjustable. So if you ever want to change something, you’re free to do so.
You can read more about our choice of terrific prepaid funeral plans here – which we provide in partnership with Golden Leaves and Golden Charter, the most respected and trusted providers in the industry. We only work with providers who are registered with the Funeral Planning Authority*.
Example options include Topaz, Pearl, Sapphire, and Ruby, allowing you to fine-tune every detail of your funeral from the type of coffin to the transport. All include funeral director fees, care and preparation of the body, transport to the place of rest in a hearse, and more, with extra add-ons to suit your preferences.
All the information you need about these plans is listed on our website, but if you’d like to chat more about the details and want some guidance picking out the perfect plan, simply drop us a line using our contact page. We’d be delighted to help.
Ultimately, it’s clear that for many people, a prepaid funeral plan is likely to be by far the best method of financing your end of life preparations. With Dead Right funeral packages, you can create the funeral you want and pay for it your way. Get in touch with our team on 0203 865 2031 if you have any questions, and we can break down the funeral planning process for you.
*What peace of mind does the Funeral Planning Authority provide?
The Funeral Planning Authority (FPA) is an organisation set up by the industry to regulate providers in the UK pre-paid funeral plan industry. Their primary aim is to ensure providers that are registered with the FPA, are operating in a manner that will result in customers getting the funeral they have paid for, at the time of need. By choosing a registered provider this provides an additional level of reassurance to the customer purchasing a plan. The role of the FPA is there to add objective scrutiny to providers who chose to register with us, and this is carried out by an Independent Compliance Committee. By ensuring that providers conform to the FPA Rules and a Code of Practice, consumers are given basic protection and reassurance when they buy a plan from a registered provider.
To become a registered provider and maintain a registered status with the FPA, the provider has to complete an initial and then annual registration process. This subjects their business and its operations to independent scrutiny. The registration process requires the provider to complete a series of application forms and to provide the FPA with detailed information about their business model. This will include items such as any Trust Deed, insurance agreement, accounts, actuarial valuations, investment arrangements and plan literature. This registration process provides additional reassurance to current and prospective customers that the provider is operating to standards beyond the minimum legal requirements, and that this has been verified by an objective third party.
The FPA takes complaints about registered providers and third parties they may work with very seriously. They pride themselves on helping to drive up market standards and supporting customers in resolving complaints is just one of the ways they do this. In the first instance, the FPA recommend that customers approach their plan provider directly and most complaints can be resolved at this stage. However, if you have done this and do not feel that your complaint has been resolved, then the FPA will assist in trying to resolve the complaint, with the provider and if necessary by offering access to their independent dispute resolution service.
The FPA can also assist customers who may be looking to trace whether a funeral plan is in place. They do this by contacting all of the registered providers, who cover the majority of the market, asking them to search their databases for a plan with the plan holder details provided. If any provider has a potential match they will contact the enquirer directly and carry out their normal data protection checks.
Find out more about funeral plans