Is paying for funeral plans & new life assurance seen as deprivation of capital?

luminated

catfish50 wrote: »

Which issue -- funeral plans, or capital deprivation?

funeral plans :eek:

Sorry I can see where it could of been either:o

catfish50

I don't mean to sound pollyanna-ish, but I've had some relatives who lived on into their 90s, getting more and more dependent. I don't want that. Since we all have to go, I'd rather do it while I still feel reasonably in control.

At the moment I'm thinking 85 or so, but by the time I get to 80 I may want to revise that.

hcb42

luminated wrote: »

Thanks for the reply.

Can I ask something? If you pay monthly and (so sorry to say) if your grandmother passed away would you still owe the balance of the full sum £3583 or is it like insurance where no more to pay?

My parents both took out monthly paid policies, no more to pay, but then if granny was 89 I doubt they would sell her a monthly policy as they are guaranteeing to make a loss.

I will also say like someone else here, my parents funerals were both in the order of £2K-£2.5K including catering for about 30 or so. Paying £3-4K now for something that happens into the future does not look a good "deal", not paid in a lump sum

luminated

catfish50 wrote: »

I don't mean to sound pollyanna-ish, but I've had some relatives who lived on into their 90s, getting more and more dependent. I don't want that. Since we all have to go, I'd rather do it while I still feel reasonably in control.

At the moment I'm thinking 85 or so, but by the time I get to 80 I may want to revise that.

Yes agree with all you say.

I am 63 in poor health, but not in pain, and brain working just fine. Well I think it is and blank those who tell me I have senior moments. Me never! So being pragmatic and with time on my hands, to think things through, I do like to do the 'what if's!!!' for many things.

Having seen neighbours die at late 80's and mid 90's I have absolutely no aspirations of making it that far. They haven't had much fun for quite a few years now.

jay1181

jay1181 wrote: »

Hi i have just done that from my 89 year old grandmother and the total if you paid up front was £3583 but if you wished direct debit it went up to £4321 which worked out very expensive . The plan was with the co-op care. The prices were different but the plan the same its shocking how much these cost now even for a basic one.:eek:

hi it would depend which bond you buy but if direct debit was used we were told if anything happend within the first two years we wouldnt be covered.