Spare loved ones from tough decisions at the toughest time

 

At the most difficult time, it can be heart-breaking for family members or friends to have to make funeral decisions on behalf of a recently deceased loved one. With a funeral plan from your local independent funeral director, you can rest assured that your wishes will be met and your family will be covered. 

When a loved one dies, a mix of emotion comes to the surface and family members and friends often find that simple choices suddenly become monumentally challenging. A funeral plan provides the opportunity for holders to make sure these decisions are not left down to loved ones but are made well in advance, in accordance with the wishes of the plan holder.

 

Funeral Plans allow you to lift potentially devastating pressure from your loved ones and make sure their lasting memory of you is as you want it to be. Funeral plans differ from wills and over 50’s insurance policies in that they are a direct agreement with a funeral director, which means you can be sure your wishes will be carried out and correctly interpreted by a qualified professional. Through a funeral plan you are removing the hassle of having to communicate your last wishes through a family member.

The financial benefits of funeral plans are well-documented but often the emotional heartache which they alleviate can be worth far more to friends and families.

Get peace of mind knowing your loved ones will have no difficult decisions to make when the time comes. Get in touch today. 

Why looking local for your funeral plan can save you money

 

You wouldn’t buy a holiday from a man in the street. And you certainly wouldn’t buy a car from someone who knocks on your door. So why buy a funeral plan from anyone other than the experts in their industry, local independent Funeral Directors? 

 

The popularity of Funeral Plans has increased dramatically in recent years as more of us than ever recognise the need to take responsibility for the inevitable costs of our own funerals. This has transformed funerals into fully marketable products and led to a number of businesses operating direct sales tactics: knocking on doors, cold calling and finding inventive ways to forcefully pitch the idea: ‘you’re going to die and you need to pay for it’. This has gone down badly with some members of the public for obvious reasons.

 

By getting in touch with your local funeral director, requesting a home visit and respectfully going through the requirements you would like for a funeral, you can ensure that the funeral plan you end up with is tailored to your needs. Independent funeral directors deal with this exact concept on a daily basis, whereas direct salespeople are target driven to get money from you, solely.

 

When comparing local independent funeral directors with larger, national corporations, it can be much better value to look local for a funeral plan too. National direct sellers have enormous overheads and marketing budgets to pay, whereas local funeral directors can afford to sell local funeral plans at local prices.

 

By choosing to call your local funeral director, you are not only supporting independent businesses which may have been around for decades, but you can ensure your final wishes are met by people who know what it means to take pride in their work. 

Disbursements: Hidden Costs Well Worth Looking out for

Most funeral plans contain a contribution towards ‘disbursements’ included within the framework, which represents money included to cover third party costs such as burial fees or a cremation. What you will notice however is that this figure varies greatly between each plan.

The most common motive behind people taking out a funeral plan is to take responsibility for the costs of their own funeral and save loved ones the financial pressure of having to find a significant amount of money at a difficult time. It is therefore important to look closely at exactly what is included in your chosen plan so, when the time comes, the funeral is covered and your loved ones have very little left to pay.

Almost always included within the overall cost of a funeral plan is a contribution towards disbursements. What this means is that should the costs of crematoriums, celebrants, doctors or ministers (for example) rise dramatically because of unpredictable market fluctuations, there is a limited amount set aside to cover this. If the costs are greater than the allowance, family and friends will be charged the difference.

This figure is therefore worth looking over in detail because if you were to pay a substantial amount for a funeral plan with just a small contribution to disbursements included, when the funeral took place, loved ones would still have a significant bill to settle.

Often, because Funeral Directors know first hand how difficult it is to ask grieving family members for money, local funeral plans include a greater contribution towards disbursements than national sellers. National funeral plan corporation, Golden Charter, for example, includes just £940 towards disbursements, whereas many local independent funeral directors will include a far greater contribution, often in the region of £1,200.

Obviously the disbursement contribution figure makes up a significant part of a funeral plan cost, so if the disbursements were higher, you would expect the plan fee to be higher. Again, with independent funeral directors this is often not the case. Golden Charter’s Standard Plan for example costs £3,625, whereas many local funeral directors charge less and provide a far more personal service.

Comparing funeral plans can seem difficult because of their perceived similarity upon first glance. However looking closely at the disbursement contribution is a good place to start to save your loved ones money in the long run. 

How is my money secured? -  Funeral plans explained

 

One of the most commonly asked questions about funeral plans is how funeral directors are able to offer tomorrow’s funeral plans at today’s prices and still make a living. Here we explain the mechanics of a funeral plan and what makes it the safest and most lucrative way to ensure your funeral today.

 

Funeral Plans allow holders to pay for a funeral at today's prices that may not take place for decades, without ever having to pay more for a Funeral Director's services. 

Once a funeral plan is fully paid it is invested into a separate trust fund. This trust fund is independent of any one funeral director or administrator and represents security in the unlikely event that any party ceases trading. Because trust funds such as these are substantial through the investment of several thousand funeral plan payments, the funds are invested and gain a sizeable return on investment through some of the UK’s top wealth management companies. This return on investment is added to the amount paid in for the plan initially so the value of each plan continues to rise without the holder having to add money to it. 

If an individual were to invest the cost of a funeral plan, e.g. £3,500, in a savings account, the interest returned would be far less and would certainly be unable to keep up with the rising costs of funerals, which have soared by more than 90 per cent since 2004. However by taking out a funeral plan with a trusted funeral plan provider, regulated by the Funeral Planning Authority, this £3,500 is pooled together with millions of pounds from other plan holders to provide the opportunity to gain a much greater return on investment. What this essentially means is that a funeral, which may cost £3,500 today but £7,000 in five years, is covered no matter how much the national average cost of a funeral rises.

 

It is through the pooling of great number of funeral plans and the secure investment through shrewd wealth management firms that funeral plans provide such good value to customers.

 

To find out more about how your money is uniquely secured through a prepaid funeral plan, get in touch with your local independent funeral director today.