Why it’s never too early to plan ahead and Save Thousands Of Pounds
A funeral plan isn’t something we really think about in our 40s but we Should. With the costs of Funerals going Up Year on Year up to 10% can you imagine what the average price of a funeral will be 30 or 40 years if it’s at nearly £4000 now, that’s up over a 100% in 10 years from an average of £1920. We say this to a lot of our clients if you had the chance would you not want to lock in at today’s prices and save you and your family money or just chance it and hope you and your family have enough money in the future.
An overwhelming 100% have said it makes financial sense to pay for something at today’s prices rather than chance it and pay possibly Thousands of pounds more in the future.
The Plans we offer are Guaranteed plans so whatever happens the money you put in now is all you will ever pay and with Barclays Bank Holding The Trust Fund and An Independent Board of Trustees and One of the UK’s Top Ten Legal Firms as well as a leading Investment Firm Looking after your money unlike many other firms you have nothing to worry about as your money is safe.
Below are some of the most asked questions in regards to Under 50s Prepaid Funeral Plans
I’m not 50 yet – what do I need a funeral plan for?
If 50 is the new 40, then naturally no-one wants to think too deeply about what happens towards the latter stages of our life. However, we plan ahead all our lives from saving up for weddings, putting cash aside for mortgage deposits – but the one thing we fail to plan for and it may be worth thinking ahead about due to the ever-increasing price of funerals for your family and loved ones.
How much do funerals cost?
Funeral prices are rising all the time – faster than inflation, wages, pensions and more – and have doubled in the past decade. Funerals cost an average of just £1,920 in 2004, and by 2016 had risen over 100% to £3,897. If they continue to go up at the same rate they’d be in five figures within 20 years.
Pre-paid funeral plans bought long in advance can spread the cost of the funeral and budget within your means, and are usually fixed at current prices, you will also benefit by locking in your funeral costs at today’s prices no matter what happens and however far into the future you need your plan you or your family will never have to pay any more towards the plan.
The average age of customers buying a prepaid funeral plan is 55-65 years old, but if you have some money to put away, then there are arguably clear benefits from being able to set some aside for (hopefully) the far future when you’re younger. As long as you are 18 or over, you can usually get a funeral plan.
If you’re under 50 and you buy a plan today and fix your plan today’s prices with us, the funeral director’s services included in the plan are guaranteed to be frozen at today’s prices and protect you against future inflation. For example, if you buy a funeral plan at 40 and live until 80, your loved ones will be paying the same prices as 40 years previously.
Taking out a funeral plan under 50, well in advance of your retirement, while you still have many years of a regular income, can help reduce the potential strains – both financially and emotionally – from leaving it until later in life.
By making flexible payments and starting relatively early, you may be able to make smaller monthly payments over a longer period of time – and have less to pay when you’ve retired or have far less disposable income.
The savings you and your loved ones will make by taking out a plan so early on will be immense as you will be beating 30 or 40 years of prices going up.
What do under-50s typically need from a funeral plan?
Most funeral plans are aimed at the over-50s demographic, but funeral plans for the under-50s may have slightly different requirements. It’s not uncommon now for a younger demographic to want to plan for more personalised funerals, with themed clothing, services or decoration, pop music being played, or friends and family involved in a more pre-planned way.
Cost, however, remains the biggest draw and with funeral prices likely only to go further up, it makes sense that the earlier you can start your plan, the lower the overall cost will be and the easier it may be for your family when the time comes.
You can take out a basic plan and get your self-covered for the essentials now and add on extras such as limousines and flowers at a later date but the most important parts such as the funeral directors and third-party fees can all be paid for now and locked in at today’s prices.
With all of our prepaid funeral plans, you will get some basics such as funeral director fees, removal of the deceased up to 25 miles, use of the chapel of rest for viewing, a coffin,attendance of conductors and bearers, hearse and limousine, all funeral staff to conduct the service, doctors and minister costs.
Depending on which plan you choose, you can go for a simple or superior coffin, confidential assistance with bereavement counseling, limousines or a service at the place of burial or cremation.
You can add on as much as you like if you need more cars or flowers it’s up to you.
How a pre-paid funeral plan can benefit you
We get asked this question a lot and the biggest benefit is saving you and your loved ones Money. The price of a funeral will only ever keep going up so why would you not want to lock in at today’s price. Like most of us, we have bought things in the past and again now and seen just how much the price has gone up and think how good it would be to get it at the old price….well you can now you can pay today’s prices even if you don’t need the plan for another 30 or 40 years.
If you think to add on flowers, professional services and other extras to the basic cost of a funeral, the cost of dying is now at an average of £8,802 – up 8.3% since last year.
So it is not hard to see how planning ahead for when the time comes can benefit everyone involved. Having a pre-paid funeral plan can provide peace of mind to make a difficult situation that bit easier when the time comes as well as saving you and your family Thousands of Pounds in years to come.
Or Call us On 01614394721 and one of The Team Will Be Happy To Help You