What is the main benefit of a pre-paid funeral plan?
The huge benefit of a pre-paid funeral plan is the ability to lock in the cost of the funeral director's services at today's prices whilst allowing for all the preparations to be made in advance, minimising both the financial and emotional impact of having to deal with these issues at the time of death. In addition, a funeral plan protects those closest to you from going into debt as a result of having to find a large amount of money at a moment's notice. Unlike life insurance or an over 50's plan, a funeral plan "activates" as soon as the policy holder passes away.
Can I start a plan for another person?
Yes, simply mention to the advisor that you are the plan holder's representative' and we will ensure that this is actioned during the application process. We will arrange for all correspondence to be sent to the representative.
What happens if I move house?
Please let us know you are moving so that your records can be updated. You will have the option to move your plan to a different funeral director, if required. See terms and conditions for further information.
What happens if the Funeral Director I use goes out of business?
You need not worry, If this where to happen we will inform you and appoint a new funeral director in accordance with your wishes leaving your money and special requests safe and intact.
What happens when I have special requests for my funeral?
A pre-paid funeral plan ensures that at the time of your death all of your wishes are recorded, leaving no guess work or stress for your family. They can rest assured that everything will be as you wanted, as it is all pre planned.
You can tell us about any special wishes for your funeral when you apply. If these incur additional costs, not covered by your plan you will be notified immediately.
What happens at the time of my death?
All it takes is one simple phone call from your nominated next of kin at the time of need and your funeral director will lead them through the process with professionalism and compassion. This removes any stress and worry associated with planning your funeral, allowing your family and loved ones time to focus on what really matters.
Is it possible to specify my own Funeral Director?
If you have a preferred funeral director, you can let us know when you apply. If you don't have any preference, we will simply appoint a funeral director near to you from our network of local independent funeral directors. We will make every effort to allocate your plan to your selected funeral director, however this is not always possible. If this is the case, we will contact you to advise you of this and discuss an alternative choice of funeral director.
Where does my money go?
Your payments are protected. Depending on how you have chosen to pay, your money will be paid into the Trust. It will be held there until needed to pay for the funeral arrangements.
What happens once I've take a plan out?
After you have applied you will receive a notification pack from Plan My Funeral and a follow up call to ensure you are happy with your choice. Then, when your plan is accepted, you will receive a membership pack including a plan certificate and a summary of plan information. Once your plan is fully paid a certificate containing your plan number (with an additional certificate to give to your next of kin) will follow.
What happens if I die before I have made all the outstanding payments?
If you are paying by monthly installments and you die before all payments have been made your representative or next of kin can choose to pay of the remaining balance and the plan can be used in line with your original wishes. We will of course deduct any outstanding instalment charges that would have been applied to the plan and inform your next of kin or representative of the outstanding balance (Closing Statement).
Or, the plan can be cancelled and all of the payments refunded (less £395 cancellation fee).
Its worth remembering that any money you have paid in to the plan will be a valuable contribution to the cost of the funeral. Also that you will have reduced the financial burden to the next of kin or representative and they will receive the emotional support from having a plan in place.
What about Life Insurance?
A life insurance policy will only provide cover for a specific sum of money that will decrease in value due to inflation over time. A funeral plan is the only way to lock in the cost of the funeral director's services at today's price thus offering continued protection into the future. A life insurance policy may also take some time to pay out, while a funeral plan activates on the day of death.
I already have an over 50s plan
It's a very common misconception for people to believe that they are covered for their funeral because they have taken out an over 50s life insurance policy, not least because they are often marketed as funeral cover. These policies tend to be cheap as they offer small lump sums. Often other family members have these plans as they genuinely believe that this will be enough, unfortunately in the vast majority of instances this is not the case. Over 50s plans have a number of draw backs which are covered in depth online specifically via Martin Lewis' Money Saving Expert.