Funeral Insurance for OAP Help

smithysaver

Hi, A recent family member passed away and wasnt insured, and the family was slapped with a £2500 funeral fee. It got me thinking my elderly mother has no insurance and no means to pay, and I was thinking of setting up some kind of insurance for her, tho she is 69 and not the healthyist person in the world. Ive looked about a bit but dont need BIG amounts of money in the event of death, but just to cover funeral costs. As she has no debts. Please can anyone give me advice or reccomend any products?

dunstonh

The options are typically whole of life assurance plans or pre-pay funeral plans that accept a monthly contribution.

However, before you decide on a course of action you need to work out if its actually necessary. Funeral expenses can be paid out of the estate. They dont need to be paid by someone else. Only if someone books the funeral do they then need to pay it. If there are insufficient assets in the estate, then ultimately the council will arrange and pay. Although this will not include any ceremony.

Also, I dont think its really fair to be calling your mother elderly at age 69.

JonBoy_SCFC

dunstonh wrote: »

The options are typically whole of life assurance plans or pre-pay funeral plans that accept a monthly contribution.

However, before you decide on a course of action you need to work out if its actually necessary. Funeral expenses can be paid out of the estate. They dont need to be paid by someone else. Only if someone books the funeral do they then need to pay it. If there are insufficient assets in the estate, then ultimately the council will arrange and pay. Although this will not include any ceremony.

Also, I dont think its really fair to be calling your mother elderly at age 69.

DUNSTONH: I am interested. If the council will ultimately step in and pay if lack of funds in the estate, why do people bother having insurance?

thanks

dunstonh

DUNSTONH: I am interested. If the council will ultimately step in and pay if lack of funds in the estate, why do people bother having insurance?

Because they have dependents who may rely on the money that is left. The council only come in as a last resort. If there are assets available (cash or assets that can be sold) to pay the bill then the council will not step in. The council will also make some attempt to collect what they can from what little their may be.

JonBoy_SCFC

makes sense cheers