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With the average cost of a funeral around £4000, a fifth of all UK funerals are paid for in advance via a plan. With the rising costs of a funeral, it now means that more people are planning and turning to prepaid plans, however you need to ensure that the plan covers everything you are expecting it to so that your loved ones are not left with unexpected costs.
The main benefits of purchasing a funeral are to keep any financial burden on your family to a minimum, and make sure that your wishes are recorded; one of the most common things Funeral Directors hear is that ‘we don’t know what they wanted’. Discussing a plan with a Funeral Director not only means wishes can be recorded but can even break down the barriers of discussion about death and funerals amongst the family.
Most funeral plans allow anyone over 18 to be covered, though some are only for the over 50’s, the plans allow you to pay for and set out the arrangements of your own (or someone else’s) funeral, so that when the time comes, the family will have little or no financial strains and less stress having to make certain decisions as you have already made them.
Whilst prepaid plans are not currently regulated, the Government are planning to legislate them within the remit of the Financial Conduct Authority (FCA) which is why it is advisable to use a respected and reputable company to guide you through the process and make sure they are registered with the Funeral Planning Authority. The funeral plan provider will keep a copy of everything that has been requested as part of the plan to ensure that there are no disputes, and your wishes are carried out.
Typically included are the Funeral Director’s professional fees, which include transportation of the deceased to the chapel of rest, care of the deceased, hearse, and a coffin, along with some third-party costs, such as a minister/celebrant, and crematorium or interment fees.
Usually not included as standard are the newspaper notices, service sheets, embalming, purchase of a burial plot, flowers, and special requests i.e., a bagpiper/choir, the wake and a headstone. Some plans will allow you to record your wishes for these events so your family are informed.
Some plans are flexible, meaning that you can add or remove the services as you need and adjust the cost accordingly. Some plans are pre-set and if you need to change them after the death happens, you can incur additional costs.
Once you have agreed on a plan you can pay in a one-off payment, over a set period or as a fixed monthly instalment until you reach 90 or die. The latter option is nearly extinct now and there is a danger that you will overpay the actual cost over the duration, and if cancelled, can mean losing any money you have paid in.
To ensure you get the plan tailored to your needs, consult your local Funeral Director, who will offer you expert guidance and advice on all aspects of a funeral plan. Below is a list of Funeral Directors in and around York and Malton that offer a funeral planning service, give them a call, or visit their website today to arrange an appointment.
J G Fielder & Son Funeral Directors
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