Finding the Right Pre-Paid Funeral Plan for You

When you’re investing your money into anything, it’s important to do your due diligence and research providers carefully. The same can be said when purchasing a pre-paid funeral plan. There are lots of options to choose from when deciding on the right plan for your needs and budget, as well as various funeral plan providers who offer varying levels of cover. Here are some questions to ask when choosing the right pre-paid funeral plan provider for you.

How is your money invested?

You should ideally be buying your plan with a provider that is investing your money into a trust fund or a ‘whole of life’ insurance policy. This ensures that if the provider goes out of business or runs into issues in the future, your money is still safe and secure.

Are they regulated?

The FCA regulates providers in the pre-paid funeral plan industry within the UK, ensuring that they operate in line with a strict set of rules and regulations so you can be certain that the funeral you’re paying for is in line with the terms of your plan.

You should always choose your plan with a registered provider as this will safeguard your money further and give you peace of mind that your funds are protected.

What services are included in the plan?

The provider you choose will determine what services are included within the terms of your plan, so it’s a good idea to compare providers and pre-paid plans to find the one that best suits your budget and needs.

You want to be sure that you’re fully aware of what’s included, as you don’t want your family to be left with costs they’re not prepared for when the time comes. The essential elements, such as funeral director fees and your cremation or burial will be included, but other factors such as transportation costs and care at the mortuary may not always be included.

Are the opportunities to personalise your funeral?

If you want the option to make decisions about the type of funeral service you will have, be sure to check that the provider you choose allows this. The level of flexibility for accommodating certain choices will vary between providers, and it’s important to find a business that allows for you to be remembered in the right way for you.

Is the plan in line with your budget?

Prices also vary between providers, so ensure that the plan you choose is something you can afford comfortably. The benefit of choosing a pre-paid funeral plan provider is that the money you invest to pay for your funeral will be set at today’s prices, so you don’t need to worry about rising funeral costs impacting your family in the future. It’s also worth checking the payment terms – typically, you’ll have the option to pay in a lump sum or in monthly payments, depending on what is easier for you to manage from a financial perspective.

Does the plan operate nationally?

Consider what the future may bring – if you’re likely to move home, bear in mind the provider you will go with as a provider who works with funeral directors nationwide will give you flexibility in choosing a funeral director in your new location. It’s worth remembering that you’ll need to update your contact details with your chosen provider if you do move.

Does the plan come highly recommended?

Finally, a worthy funeral plan provider will be backed by positive reviews and feedback based on their service, so this will provide reassurance that you’re choosing a high-quality service. Reviews are an important part of choosing a pre-paid funeral provider you can be comfortable dealing with so it’s an important step in the research process.

Final thoughts

No-one wants to consider their funeral, but it’s an important step to take to protect your family from unnecessary financial stress and difficult decision-making during what will be an emotional time. It also gives you the chance to buy your funeral at today’s prices, to avoid the rising costs of funerals, and in many cases will give you the chance to make your wishes clear so your family don’t need to worry about making choices that may or may not be what you would want for your send-off.