Prepaid Funeral Plans

Is Your Money Really Safe

The concept of paying for your funeral in advance isn’t something we are used and quite unsettling to some, but setting out the type of service you want to what you want your family to wear and removing a financial burden from your family, is increasingly attractive to more and more people.

With the decline of Life insurance and over 50s Plans and the steady increase of Prepaid Funeral Plan It brings peace of mind as well as protection against rising funeral costs. Unlike a Life Insurance Policy or Over 50s or Under 50s Plans where your loved ones will only get a small lump sum that might not cover the costs of a Funeral Service a Guaranteed Prepaid Funeral Plan will pay all of your plans costs no matter how far into the future. You might not need the plan for another 20 or 30 years but whatever the costs are your plan will cover the Costs.

But is your Prepaid Funeral plans money safe?

We are not used to paying up-front for services that we hope we won’t need for 10, 20, even 30 years. We can’t know if our chosen funeral director or even a funeral plan provider will have financial problems far in the future. If we’ve taken out a funeral plan to make sure our family isn’t left with unexpected funeral expenses, could a bankruptcy leave them to foot the bill?

There are rules in place to make sure payments made to a funeral plan provider are protected and the required funds are available when they are needed to pay for your funeral. So Yes Your Money Is Safe Your money along with all other plan holders money is put into a trust in a large plc bank, on top of that an external board of trustees is in place to look after the trust fund alongside a legal firm and an investment firm. So your funeral plan money is completely separate from the Plan provider so even if they went bust your money is in the trust fund overlooked by the Bank and Independent board of trustees.



The customers of funeral plan providers that belong to the  Funeral Planning Authority (FPA) are protected through the FPA’s Code of Practice as well as the National Federation of Funeral Directors (NFFD)

The code states that registered providers must have their finances and procedures independently reviewed by the Authority. It also requires that all payments made by customers must be placed into an independently managed trust fund, or into a whole of life insurance policy.

Pre-payments paid into a Trust are not held by an individual funeral director or even the funeral plan provider; the funds that will eventually be needed to pay for the funeral director’s services are always held securely in Trust for the time they are needed.

In the case of our partner funeral plan provider, pre-payments are held securely By Barclays Bank PLC, a financially separate entity run by an independent board of Trustees. The sole purpose of the Trust is to manage plan holder payments and to pay appointed funeral directors when the funeral eventually takes place.

Flexible options to help with funeral costs

There are several ways to pay for your funeral plan in advance, all fixing the cost of your funeral director’s services included in the plan at current prices.

Plans can be paid with a single one-off payment with the clear benefit that having pre-paid the full value of the plan, you are immediately covered. Customers, who wish to spread the cost but want to make sure their funeral costs will be provided for quickly, can pay in 12 monthly installments without incurring additional cost.

Other customers choose to pay over a longer term on a low-cost installment plan available up to 10 years. It is important to Realise that with an extended payment period, your funeral director’s costs are not covered until the final payment has been paid, but money paid in can be used toward the cost of a funeral should you die before the final payment is made.

Financial reassurance is important, but it is also important to know that the pre-paid funeral service can be delivered when it is needed. Most of the funeral directors in our network have been serving their local communities for decades, some for more than a century. But in the rare circumstance that a funeral director does go out of business, the countrywide spread of our network means that another funeral director closeby can be appointed to take over.

There are many different ways we can help you just pick up the phone and Talk to one of our friendly advisors and they will walk you through your options and arrange a  Funeral Plan that works best for you.

Find How A Prepaid Funeral Plan Will Save You And Your Family Money

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