Funeral Plans

 It’s important to consider how your funeral would be paid for. Arranging a funeral plan is a great way to ensure your funeral costs are covered, leaving you and your loved ones free to enjoy life.

Why Use Making A Will for Your Funeral Plans

 

We understand the nature of funeral planning, what’s important and the things you need to consider. From advising on suitable funeral plans through to planning itself.

We provide clear, concise guidance on funeral plans as well as taking out a plan, protecting yourself and loved ones against unexpected costs as well as other important considerations.

There are lots of reasons to use a support service like ours, primarily to protect yourself. There are many occasions when people have taken out funeral plans, not paid the full plan and as such – the family received no payout when arranging the funeral.

 

The last burden anyone wants during a sad and difficult time is to have to worry about unexpected costs. With some funeral plan providers, if you stop paying for a funeral plan before the half way point in the policy there is likely to be no pay out in the future.

Those who go past the half way mark in a policy may only get a portion contribution towards a funeral.

A funeral plan is an effective way to protect yourself against the rising costs of a funeral.  Even basic funerals can cost in excess of £4000, so it’s important to consider everything before taking out a plan.

 

Have you got a funeral plan? Are you looking for advice?

 

Whether you have a funeral plan or you don’t – we are happy to help. We can provide full guidance and advice on funeral planning as well as aspects of cover, protection against unexpected costs and guidance on other areas such as will making and lasting power of attorneys.

 

 

Funeral Planning & Insurances

Funeral planning and insurance are 2 separate things, but, are equally as important as one another.  Funeral planning is the process of arranging what will happen, the service and auxiliary items whilst funeral insurances or “cover” helps to cover the cost of a funeral when you die.

Dying without having funeral cover can mean loved ones have to cover the cost, or, assets being sold to cover the cost. This can become complicated, and, isn’t always as straightforward as it’s made out to be.

Funeral “Plans” can help you to pay for your funeral in advance by breaking up the total cost of a funeral into instalments which can be paid in a number of different ways.

Here at Making a will, we can give you a full overview and guidance on funeral plans as well as actual planning for the future.

 

 

Plans for Over 50’s What You Need to Know

 

There are many over 50’s insurance schemes out there but, there are many things to consider. Generally, over 50’s schemes are straightforward as in they do not require any medical underwriting / physcial healthchecks – so regardless of health, you’ll be able to enjoy the protection of the scheme.

However, it’s important to stay up to date with all payments on over 50’s policies as if you fall behind, or miss even a single payment there will be no pay out in the future and you won’t be able to claim anything back.

Many people are oblivious to this despite it being so important. That’s why the guidance of Making a Will is a great way to ensure you are fully in the know about your options.

 

What do Funeral Plans typically cover?

 

Funeral plans are sometimes packaged or tailored depending on the provider. Some providers offer different plans to suit different budgets.  Budget funeral plans will typically include a coffin, low-level funeral planning and formalities including chapel of rest visiting times. Higher budget plans can cover more premium coffins including wood veneer coffins, cortege route planning, limousines/travel arrangements and more. Generally, all mainstream funeral plans will include care and preparation of those who have passed away, use of the chapel of rest, a hearse & cortege.

We can help you with your funeral plans – to find what’s right for you.

 

Can I Buy a Funeral Plan for Someone Else?

In the UK it isn’t uncommon for spouses and partners to arrange funeral cover for other loved ones in the family. In the UK there are no restrictions on buying a funeral plan for someone else.

It is important however – that when purchasing a funeral plan you do so from a provider who is registered with the funeral planning authority or FPA.

 

Like any insurance or instalment based product it is absolutely vital that you understand exactly what the funeral plan covers, what’s included, any key terms and conditions, payment conditions and more.

In the UK funeral insurance is not a product regulated by the FCA, so it’s also important to buy from a reputable provider.

 

Have you got a funeral plan? Are you looking for advice?

 

Whether you have a funeral plan or you don’t – we are happy to help. We can provide full guidance and advice on funeral planning as well as aspects of cover, protection against unexpected costs and guidance on other areas such as will making and lasting power of attorneys.

Will my funeral plan cover the entire cost of the funeral?

This depends on the type of policy you buy. Again, it is of vital importance to understand exactly what the policy covers and what it does not cover. You should thoroughly scrutinise the terms and conditions of the plan to understand coverage.

Failure to undertake diligence could lead to some or all of your funeral not being paid for.

 

How We Can Help

Some of the key things we can help with include

Full Will Writing

From start to finish we can provide full will writing services to create and draft a will to meet your needs.

Executors & Trustees

We can advise you on appointing an executor, trustees as well as the process that follows after passing.

Guardians

Should anything happen to you a guardian can be appointed to take care of your dependents under the age of 18.

Inheritance Tax Planning

Sound guidance on the distribution of assets, IHT and future tax planning to reduce liability where possible.

Will Amendments

Changed your mind? Change of circumstances? We can assist with all will amendment enquiries.

Will Storage

Will storage from New Leaf from just £7. Fully secured storage facilities with CCTV, flood and fire proof.

Should I pay for a Funeral Plan in Lump Sums or Instalments?

This is a decision that only you can make. Paying, either way, has pros and cons depending on the type of plan/scheme you have chosen. For example – if you were to choose an over 50’s scheme which has payment critical requirements then paying a lump sum is the best way to ensure you have full cover and do not end up out of pocket.

If your plan is flexible and isn’t payment critical (i.e. pay out after death isn’t impacted by payment history) then paying in instalments is likely to be a better choice.  Funeral plans are not an FCA regulated product therefore, there is no interest charged on paying amounts that suit you.

Different funeral plan providers will generally offer different instalment options spanning over 3 months to 25 years.

As many as 70% of Brits in the UK as of 2019 do not have a funeral plan in place.

Have you got a funeral plan? Are you looking for advice?

 

Whether you have a funeral plan or you don’t – we are happy to help. We can provide full guidance and advice on funeral planning as well as aspects of cover, protection against unexpected costs and guidance on other areas such as will making and lasting power of attorneys.

Where can I find a list of funeral planning authority registered providers?

There are a number of different places you can go to find providers who are registered with the Funeral Planning Authority.

The funeral planning authority itself provides a list of registered providers who meet the strict standards of the planning authority.

Click here to view

 

What happens to the money paid to a provider for a plan?

This will depend entirely on the provider.  Generally providers do not hold the money they are paid, instead, the money paid is used to purchase relevant insurances based on the consultation process. 

This means that money paid is effectively ring-fenced and is another reason why there isn’t FCA requirements.

 

Making A Will

Let’s get started. If you haven’t got a will, or, maybe you have a will that you are unsure of, get in contact with us today. We offer a personalised, friendly will writing service as well as will reviews backed by the New Leaf Will Writers Federation.

We offer our clients peace of mind.

So you can get on with what truly matters.

 

Our Offices

Unit 7,
19 Greenwood Place,
London
NW5 1LB

0800 488 0682

info@making-a-will.co.uk

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