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  • FIRST POST
    Newbird
    Can anyone recommend a best buy Funeral Plan?
    • #1
    • 21st Feb 06, 10:57 AM
    Can anyone recommend a best buy Funeral Plan? 21st Feb 06 at 10:57 AM
    I'm looking into setting up a funeral plan on behalf of my elderly parents. (By that I mean I'm looking for a good one for them to open.)

    Can anyone recommed a best buy plan, or point me in the right direction to check these plans out please?

    Someone must have looked into this on here I hope, but can't find much about it or any recommendations, of a plan or where to look.....Help pls :confused:
    Bless Martin's Little Cotton Socks. I thank him for giving us MSE. Look what its grown into!

    MFW = ASAP #124
Page 2
  • mary43
    My Mum took one out purely and simply to make things easier for me and my brother when the time comes. She'd had a stroke at the time but was able to think things through clearly, state which hymns she wanted (which we'd never have known), plus the fact that she wanted to be cremated and her ashes places in my dads grave. She had spoken about this so we knew that at least. It gave her peace of mind knowing that it was all in hand. The funeral directors have the information & I have it in a file with all her other paperwork. She has deteriarated (excuse spelling) since then and wouldn't have been capable of sorting it out.
    • brodev
    • By brodev 26th Dec 07, 7:57 PM
    • 988 Posts
    • 865 Thanks
    brodev
    Is buying a funeral plan a good idea?
    Originally posted by lilac_lady
    A lot depends on when it is due to kick in. If is tomorrow I can think of a couple of people I might buy one for
    Something Really Interesting
    • soolin
    • By soolin 26th Dec 07, 8:42 PM
    • 56,392 Posts
    • 39,602 Thanks
    soolin
    My dad took one out earlier this year as it was becoming obvious he was going to need to move into proper care and he wanted the security of knowing that if his money ran out I wouldn't be worried about having to pay for his funeral.

    He has the basic Co Op funeral plan, I think it was £2250 and for that he has a service, coffin all the ministers and funeral directors fees. The only extra we will have to pay for is a car to follow the hearse if we choose to have one. Dad was never one for funerals or for any 'nonsense' as he called it and always asked that we just gave his body away and be done with it when he died, but when he realised that was probably not going to be possible, leaving us with a funeral bill really worried him so the plan took care of that.
    I'm the Board Guide for the Ebay Board , Charities Board , Dosh & Disability , Up Your Income and the Local MoneySaving-England board which means I'm a volunteer to help the boards run smoothly, and I can move posts there. However, do remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com
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    • Mojisola
    • By Mojisola 27th Dec 07, 9:56 PM
    • 23,729 Posts
    • 60,320 Thanks
    Mojisola
    Similar to soolin - my parents are on benefits and can only have £6000 in savings before the benefits start to be affected. If you put aside savings for two funerals, it doesn't leave much leeway if you want to save up for big purchases to make life easier. By paying for two funeral plans, with Age Concern, they effectively have covered their funeral costs and can still have £6000 in savings.
  • Errata
    Financially it may not be worth doing, as savings would perhaps earn more interest than the cost of a funeral would increase with inflation.
    It's certainly not worth doing just to ensure the funeral directors know what the deceased's wishes were as documents relating to a funeral plan are as easily lost as a letter to those left behind giving instructions as to what's wanted, if you see what I mean.
    Personally, the only instructions I would make sure EVERYONE knew about would be a request for donations to a specific charity or good cause instead of flowers/wreath/floral tribute.
  • moonrakerz

    He has the basic Co Op funeral plan, I think it was £2250 and for that he has a service, coffin all the ministers and funeral directors fees.
    Originally posted by soolin
    I don't claim to be an expert on funeral costs, as it's not the sort of thing one tends to buy that often , but £2250 seems a tad pricey to me. My mother's funeral last year, done by our local (family business) undertaker came to just under £1300. That included hearse, bearers, crematorium fees, vicar etc.
    I was very pleased with the way it was handled.

    It might be better to put the money into the building society. Banks and Building Societies will usually pay funeral expenses from the estate before Probate is granted.
  • Errata
    I guess the cost of a funeral depends on whereabouts in the country it takes place. The last two I've arranged in West Yorkshire, one of them last week, were £1500 for crem coffin, hearse, vicar, crem fees, and services of the funeral director.
    Oh dear, what a subject for Christmas time !
    Happy new year to everyone.
    • soolin
    • By soolin 31st Dec 07, 3:05 PM
    • 56,392 Posts
    • 39,602 Thanks
    soolin
    Our last family funeral was a little over £3000 but we had an extra car and a full church service. My MIL three years ago was very basic and was approx £2000, so the £2250 didn;t seem unreasonable.

    However the main reason we did this though was to have the funds set aside so that we can 'happily' (oh the irony) spend the rest on dad's care completely and give him the choice of care home for as long as we can and yet not worry about having anything left for the funeral later. The care home said it was also fairly standard to do this when someone was self funded to legitimately use some of the funds before they all get used to pay care home fees which are currently a tad under £2500 a month.

    It might be expensive, but dad had peace of mind and for many elderly people funerals are a worry, and it is one less thing for me to worry about in the long term when anything happens to dad.
    I'm the Board Guide for the Ebay Board , Charities Board , Dosh & Disability , Up Your Income and the Local MoneySaving-England board which means I'm a volunteer to help the boards run smoothly, and I can move posts there. However, do remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com
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    • poppy_f1
    • By poppy_f1 1st Jan 08, 8:20 PM
    • 2,589 Posts
    • 3,230 Thanks
    poppy_f1
    my parents bought funeral plans over 10 years ago, they decided what coffin etc they wanted - this was to take a lot of the arrangments out of everyones hands when they did die
    have to say when my dad passed away last year it was a god send, me and my mum just had to take the paperwork down to the coop funeral directors and they just asked us for the up to date arrangements such as notices in papers, rememberance leaflets
    we only had to pay something like £60 for the extras we decided on that day

    it took away some of the emotional stuff such as deciding on the coffins, whether it was a burial or cremation
    and i have to say im glad my mum has hers as when she passes it would just be left to me to deal with everything and at least i know most of the funeral arrangements are sorted
    • Whitefiver
    • By Whitefiver 3rd Jan 08, 6:46 PM
    • 586 Posts
    • 406 Thanks
    Whitefiver
    Hi,

    All I can say was that I was very grateful to my parents for taking out funeral plans - made my life much simpler when the time came..... (and no, I don't mean that I didn't have to fund the funerals!)

    I cannot vouch for the financial implications, but I believe my parents took theirs out around ten years before they died, (and in my Father's case, significantly longer), so I would think it was probably worthwhile for them.

    Regards,

    White
    • Bonbon
    • By Bonbon 3rd Jan 08, 7:16 PM
    • 532 Posts
    • 588 Thanks
    Bonbon
    Hi,

    All I can say was that I was very grateful to my parents for taking out funeral plans - made my life much simpler when the time came..... (and no, I don't mean that I didn't have to fund the funerals!)



    Regards,

    White
    Originally posted by Whitefiver

    I have to agree that it made things easier at such a sad time.There were no decisions to be made, as my mother had arranged the lot....including the music she wanted. I knew that the day was exactly as she wished.
    • JackieO
    • By JackieO 4th Jan 08, 8:43 AM
    • 12,532 Posts
    • 94,858 Thanks
    JackieO
    well my two girls know exactly what I would like when I shuffle off this mortal coil.As they will have my house between them which is worth around £170k I think there is enough there to make sure I go with dignity.It's the one bill I will never have to worry about. I am not keen on funeral plans, as to me I would rather use the money that I have now to have fun with my grandchildren.Life is for living and not fretting about dying
    Quot Libra,Quam Breve Tempus.

    Food budget £60.00; new month, new lot of cash in my food budget purse.Nothing to buy foodwise as yet this week NSD 6/29 so far
  • queensway_boy
    My dad took one out earlier this year as it was becoming obvious he was going to need to move into proper care and he wanted the security of knowing that if his money ran out I wouldn't be worried about having to pay for his funeral.

    He has the basic Co Op funeral plan, I think it was £2250 and for that he has a service, coffin all the ministers and funeral directors fees. The only extra we will have to pay for is a car to follow the hearse if we choose to have one. Dad was never one for funerals or for any 'nonsense' as he called it and always asked that we just gave his body away and be done with it when he died, but when he realised that was probably not going to be possible, leaving us with a funeral bill really worried him so the plan took care of that.
    Originally posted by soolin

    Picking up on that point by soolin,here's a few questions and answer about leaving your body for medical research


    http://www.hta.gov.uk/about_hta/faqs/body_donation_faqs.cfm



    http://www.hta.gov.uk/about_hta/donating_a_body_to_medical_science/how_to_donate_a_body.cfm
  • DaveA
    Like a few people above, my Mum took out a plan with a local funeral parlour and it was a godsend when she passed away last year.
    We simply rang the funeral people and everything was taken care of with that one 'phone call.
    Her sister is still alive at 96 and, having enduring power of attorney, I have taken out a plan for her (£1,650) in the knowledge that I only have to make the one call - it really is a weight off my mind knowing that the professionals will get on with things, and they do it very well and with great dignity.
    To save my wife having the worry, I too have taken out a plan.

    Dave
  • Ted_Hutchinson
    Anyone on the borderline for claiming means tested benefit or pension credit should be aware that a funeral plan is not regarded as capital and will not reduce your entitlement whereas money in a savings account is and will.

    It is better financially therefore to take money from your Capital and Savings and buy a funeral plan (providing all the usual checks are carried out about the suitability of the chosen plan/provider) and thus increase your benefit entitlement. This will provide a far better return than the interest on the cost of the plan.

    Your savings

    The first £6000 of your savings and capital are ignored in the calculation for Pension Credit. There is no savings / capital limit above which you cannot claim Pension Credit.
    The Pensions Service count £1 a week as income for every £500 or part of £500 over £6,000 you have in savings. (For care home residents the first £10,000 of savings ignored.)
    Capital that is counted includes savings and ISA’s, shares or unit trusts, premium bonds, and income or capital bonds. Property that you normally live in is ignored as capital.

    So if you look at the Co-op funeral plan £2200 -£2800 reducing your savings by this amount would increase your weekly income by £5-6 weekly or £250-300 annually. and if anyone can find a better investment then I'd like to know about it. But of course this only works if you are within striking distance of the Savings disregard or are currently claiming means tested benefits.

    Buying a funeral plan does NOT count as Intentional deprivation of capital
    • Robin_T_Cox
    • By Robin_T_Cox 2nd Mar 08, 9:22 PM
    • 200 Posts
    • 96 Thanks
    Robin_T_Cox
    No. Funeral plans are a rip-off. Disposal of corpses is a public health matter, and having paid taxes for long enough I do not see why I should not expect my remains to be disposed of efficiently and with respect. In any case, I imagine that I shall be long past caring.
  • moon-pig
    No. Funeral plans are a rip-off.
    Originally posted by Robin_T_Cox
    I suppose to make that decision, you would have to contact a few funeral directors and compare their current prices with the plan.
  • Ted_Hutchinson
    I do not see why I should not expect my remains to be disposed of efficiently and with respect. In any case, I imagine that I shall be long past caring.
    Originally posted by Robin_T_Cox
    But those who currently care about you may appreciate the opportunity of publicly celebrating your life that a funeral provides. While I seem to have attended far too many funerals over the past year I do think a funeral provides an opportunity for family members to come to terms with their loss.

    In one case (not my family I assure you) there was insufficient money (from insurance policies) available for the funeral and the relatives felt obliged to have a whip round to cover the cost which was somewhat embarrasing/humiliating for some and led to an unfortunate family argument some months later.

    While it may not bother the deceased that his descendants are left arguing about who picks up the tab for the funeral, I think it is reasonable to ensure sufficient funds are available to cover the cost.

    It makes far more sense if means tested benefits are claimable, to use a funeral plan, rather than leave sufficient funds to cover the cost of a funeral, in a savings account and have that reduce your entitlement to weekly benefit by £1 a week for each £500 set aside.

    The total cost of dying in the UK is now typically £5,923 (do read this link it's quite interesting)

    There is no general death grant, but if you are in this situation and you receive a means-tested social security benefit (such as income support) you may be able to get a payment from the social fund (known as a funeral payment) to cover the cost of a simple funeral. Even where a funeral payment is made, it may not cover the full cost of the funeral and you may still have to pay the difference.


    For more information on the social fund, see Help for people on a low income - The Social Fund.
    Last edited by Ted_Hutchinson; 07-03-2008 at 6:59 PM.
    • mrs baggins
    • By mrs baggins 3rd Oct 08, 5:17 PM
    • 1,245 Posts
    • 630 Thanks
    mrs baggins
    funeral plan-is it worth it?
    having just arranged a funeral for my mom I was amazed at the cost of even a simple service. This got me thinking as you do to my own death and what would happen etc. Loooked on net about getting a funeral plan set up. I am 50 now and if I spread it over 10 years at £24 a month I would have paid £2936 in the pot so to speak. I am guessing that by then funeral costs will go up even more than they are now but would I be better putting this money elsewhere maybe? the plan i was looking at also covers the disbursements such as cremation fees and doctors fees which can only rise in 10 years.
  • lilac_lady
    I thought about doing this a while ago but decided not to do it. I'll leave enough money to cover my humanist funeral (including champagne) and my children can enjoy the rest of my money (if there's any left - depends how long I live..........!!
    " The greatest wealth is to live content with little."

    Plato


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