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Funeral Plans
buuuug
Posts: 42 Forumite
Hi,
Is there a scheme whereby you can deposit money regularly into it with the intention of hitting a lumpsum target figure as soon as possible?
IE, a monthly disposable £40 but wishing to hit £3000 in order to purchase a funeral plan with a one off payment.
It would take nearly 6 years as a simple deposit account, wondered if such accounts existed, particularly now with parents trying to save child student fees for Uni in later life.
Alternative would be to buy a Funeral Plan direct over 3 years or as an ongoing basis (although the latter seems a commitment for life and could mean you overpay by some margin if you live beyond 80.)
Thanks
Nat
Is there a scheme whereby you can deposit money regularly into it with the intention of hitting a lumpsum target figure as soon as possible?
IE, a monthly disposable £40 but wishing to hit £3000 in order to purchase a funeral plan with a one off payment.
It would take nearly 6 years as a simple deposit account, wondered if such accounts existed, particularly now with parents trying to save child student fees for Uni in later life.
Alternative would be to buy a Funeral Plan direct over 3 years or as an ongoing basis (although the latter seems a commitment for life and could mean you overpay by some margin if you live beyond 80.)
Thanks
Nat
0
Comments
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Is there a scheme whereby you can deposit money regularly into it with the intention of hitting a lumpsum target figure as soon as possible?
yes. Stocks & Shares ISA would be the main option for most.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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