Prepaid Funeral Plans... Compared!
The average cost of funerals in the UK, both for burials and cremations, continues to increase each year, with the average cost now being £3,784. With this trend set to remain, a taking out a prepaid funeral plan is worth considering in order to lessen any financial strain on your family, as well as ensuring everything is done according to your wishes.
With our in-depth reviews and honest advice, PureCover helps you compare funeral plans and your options to find the best deal out there. Here we’ll take you through the ins and outs of funeral plans and explain how we go about comparing all the options to find you the best of the best.
How do funeral plans work?
Funeral plans function like a savings account that goes straight to paying for the cost of a funeral. The amount the plan costs can be paid up front or in instalments (most people pay monthly across a number of years), and once the plan has been paid in full it lasts for your life and pays out upon your death.
Instead of requiring your family to pay for the funeral and reimbursing any money they spend, what happens is that your funeral plan pays directly to your funeral director. This means your family don’t have to worry about sorting out the details or pay out large sums of money.
As long as your plan was paid up in full, they’ll cover all the key aspects ranging from the coffin and service to the transport. These costs will also be locked at the price you paid for when you took out the policy, so your funeral plan is protected from the effect of inflation reducing its value and leaving it insufficient to cover the basic costs of the funeral.
Any money left to the family via a will or savings accounts will be entirely separate. As far as the funeral plan is concerned, your loved ones will simply need to contact the company upon your passing to inform them of the situation. Once confirmed, the company will take care of the hassle.
How Much Do Funeral Plans Cost?
There's no single answer to how much a funeral plan costs, just as there's no one answer to how much a funeral costs. As a ballpark figure, a prepaid funeral plan is likely to cost between £3,000 and £5,000 overall, and will cost more in total if being paid in instalments over a long period of time rather than upfront. But the exact cost depends on a variety of factors.
Why are some plans more expensive than others?
Because some plans offer extra features or more expensive options. You can take out basic prepaid funeral plans which will cover a simple casket, limited transport, and often mean your funeral must be held on a weekday. Or you can take out higher-end packages that cost more and which offer a wider range of choice, limousines for a larger number of family members, and enable you to hold the funeral any day of the week.
As with any financial service, there can be variances in cost even when two companies are providing an almost identical plan. This is just one reason to compare funeral plans with care.
How can I get the right plan?
The best strategy is to decide what you’re looking for and then, using Pure Cover’s reviews, compare funeral plans providers that offer deals to suit those requirements.
The cheapest options may include a basic casket and transport for the body and close family, while flower or other arrangements may be excluded. Therefore, those left behind may still need to complete some of the planning processes. Premium packages will include better quality products and may have a few extras thrown in. Before committing to a plan, finding out exactly what it offers is key.
It is important to note that the guarantee to stick with the agreed price regardless of inflation usually only applies to the basics such as the casket, the service, and burial costs. Any money included to pay for extras such as flowers may be worth less when the funeral actually comes.
The right funeral plan is the one that is both affordable and provides the features you’re looking for. That may just be ensuring the basics are covered to save your family (or yourself if you’re taking out a plan for someone else) some stress, or it may be making sure the day is as lavish as possible. It’s all up to you and we’ll help you find the right policy.
What should I look for in a funeral plan provider?
No two people have identical needs, so the answer to this will depend largely on what you want. Ultimately, though, the main goal is to find a company that makes things easier for your family at the most difficult moments in their lives.
The most important features of a funeral plan are:
- The amount the plan costs in total (if you pay over a longer period, the total amount will be higher than the cover you have).
- How long you will be paying premiums.
- The things actually covered within the plan (such as casket choice, transport, and burial/cremation costs).
- Speed and ease of admin.
- The reputation of the company and their customer satisfaction.
- Ease of communication with the company in case you need to alter a plan while you’re alive, or anyone left behind will be able to get answers to their questions
How do Pure Cover’s comparisons work?
Good question. Instead of placing different providers against each other and giving you a table determined almost exclusively by price, we thoroughly research and compare funeral plans options & the benefits available and provide all the information you need to make the best choice.
When we review and compare funeral plans or providers, we look at everything: what is included, what optional extras are available, and whether there are any nasty surprises lurking in the small print. It's only by doing this we can be sure we are recommending you the best funeral plans around, which is something we’re absolutely committed to doing.
Where can I find and compare funeral plans?
First, have a look through our reviews. You’ll be able to find plans that cater to your specific needs, and then find which is the best value among them. Once you have done this, you can take out a prepaid funeral plan secure in the knowledge that it’s the right one for you.
If you’re in a hurry, then simply click the link below and we’ll help you get a quote in a matter of minutes. What are you waiting for?