Posted by Tony O’Shea, Funeral Planning & Life Insurance Expert
Purchasing a funeral plan is complicated – you are buying something for your loved ones rather than for yourself. Yet it’s of huge importance in ensuring that your wishes are met and that your family is not burdened by significant costs at the time of your passing.
A recent report carried out by consumer group Fairer Finance has found the process of buying a funeral plan is troubling people. A large number of individuals taking out funeral plans they don’t fully understand. This is leading to extra costs having to be paid out when the actual funeral takes place.
At Funeral Planning Experts, our aim is to take away the confusion and explain things in a simple way to ensure you have a complete understanding about what it is you are purchasing and that you get exactly what you want. If you are thinking about buying a funeral plan, this is what you really need to know and understand before you make any financial outlay.
To start with, let’s cover exactly what a funeral plan is. A funeral plan is a way of planning and paying for your funeral in advance of your death. This ensures that you get the funeral you want and the costs associated with it are settled in advance. For many people having a funeral plan in place is a great comfort, knowing that family and friends won’t have to organise and pay for a funeral after your passing.
However, the act of organising and paying for something which you will not be alive to witness is a little strange. Having the assurance that things will be exactly as you have specified, with no additional costs thrown in, is of vital importance.
Your funeral plan provider should be able to give you a complete breakdown of exactly what you are buying.
Funeral costs are usually split into payments directly to the Funeral Director and the third party disbursements; these are payments that need to be made for additional services the Funeral Director cannot provide themselves. It is important you check and compare the details of funeral plans.
Many funeral plans will allow you to choose your own Funeral Director, but it is definitely worth checking. Services they supply include:
One of the main benefits of a funeral plan is to ensure that your loved ones are alleviated from the financial responsibility of your funeral. Many providers specify exactly what is included in the plan, whereas other providers prefer to make a contribution towards disbursement costs. It is very important to understand exactly what you are getting.
This is especially important if you are forward planning and buying the plan a long time before you expect to need it. Circumstances change and as such you may wish to change/cancel your plan. Make sure you understand the process of doing so and what costs could be charged.
If you do purchase a funeral plan, make sure your family and friends are aware you have done so and that they know where the plan is held. Although it’s never nice to talk about someone dying, it’s important that they know what you have planned and how they can enact the plan when you pass. That way, the plan will do exactly as you intended and keep disruption to a minimum at what will be a difficult time.
If you are looking for a funeral plan, Funeral Planning Experts can provide you with all the guidance you need to find the best policy for you.
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We will now match you with suitable funeral plan providers who will call to discuss your requirements. The providers we work with aim to get in touch within 48 hours.
If you are considering a funeral plan, you might also be interested in Will writing.
We will now match you with suitable Will Writers who will be in touch to discuss your requirements. The Will Writers we work with aim to get in touch within 48 hours.
In the meantime, why not head over to our Wills section? It can provide you details regarding types of Wills and what to include in a Will.