Paying for funerals

Savvy_Sue

ticktack wrote: »

Except that nowadays it's hard to find a way to invest a lump sum which both (a) keeps up with inflation and (b) is easily accessed by others after your death.

While I agree with a), I'm not sure that b) is relevant.

A Funeral Director will not usually insist on immediate payment. Payment can be made direct from the deceased's bank account on production of an invoice. It doesn't depend on the executors / administrators being able to 'access' that money.

ticktack_2

Savvy_Sue wrote: »

A Funeral Director will not usually insist on immediate payment. Payment can be made direct from the deceased's bank account on production of an invoice. It doesn't depend on the executors / administrators being able to 'access' that money.

The money wouldn't be in the deceased's bank account if it was invested somewhere trying to keep up with the rate of inflation.

As for the funeral director not insisting on immediate payment, the costs of deferring payment will surely be passed on, one way or another.

A._Chambers

I bought a pre-paid plan from Dignity after getting help from my son in researching it. It has helped me to know my son will not have to organise everything when I am gone and it has guaranteed me and him the price. I am always looking for a bargain as well and my son found a site that meant I got £100 cash back after I had bought the plan, all I had to do was quote PMT001ND when I talked to the people at Dignity.

blossomhill_2

I'd recommend joining the Coop - cost me £1 - and has so far resulted in reduced funerals for relatives and divi payments too.

And if you don't intend to view the deceased, certain charges can be left out too

NB it is the executors who have to bridge the gap til probate comes thorugh, so not necessarily a relative, and the executor will be getting in any rebates to the estate (eg where Council Tax has been paid in advance as 10 payments to cover 12 months, or phone rental paid in advance, tax rebate etc) so may well have some credit to use for this anyway

Magenta

I have already organised and paid for my funeral. I went for the tailor made option and have chosen and paid for absolutely everything down to the last detail. I only have my brother left who is older than me and I did not want him to be burdened with all that if he was the one left. Once he has gone, there is nobody left so it's all off my mind now.

Just to add that like the other poster I am a member of the Coop and have done my funeral via them but they have never offered me any discounts of any kind:(

pamsdish

It`s all down to how long you are going to live,"how longs a piece of string" My husband and I took one of these out in Feb 2002 I was just past my 51st birthday he was 5 months off his 56th ,Sadly he died last week just 1 month short of his 66th.
So I calculate 125 payments at 9.95 a month is 1234-75p his policy will pay 2004 pounds.
My policy is worth 3850 pounds approx as the age difference, he was diagnosed with a terminal illness 18 months ago.
His funeral is on Thursday the estimate given by the funeral director is for 3000.
So at this very moment in time my advice if you are in your early 50s is take out a plan I would be in very deep trouble without one ,and as I explained no one can see what is round the corner

Lost2

pamsdish wrote: »

It`s all down to how long you are going to live,"how longs a piece of string" My husband and I took one of these out in Feb 2002 I was just past my 51st birthday he was 5 months off his 56th ,Sadly he died last week just 1 month short of his 66th.
So I calculate 125 payments at 9.95 a month is 1234-75p his policy will pay 2004 pounds.
My policy is worth 3850 pounds approx as the age difference, he was diagnosed with a terminal illness 18 months ago.
His funeral is on Thursday the estimate given by the funeral director is for 3000.
So at this very moment in time my advice if you are in your early 50s is take out a plan I would be in very deep trouble without one ,and as I explained no one can see what is round the corner

Pam, May I offer my Deepest Sympathy to you and your family on your sad loss

missile

blossomhill wrote: »

I'd recommend joining the Coop - cost me £1 - and has so far resulted in reduced funerals for relatives and divi payments too. ........

Thanks for that useful tip :A

[Deleted User]

Do prepaid plans allow you to choose the funeral director or do they allocate one?

I've looked thru a few and it would seem they choose. I'm thinking of buying a plan for mum but I want an independent FD not one in a chain.

Mojisola

Deleted_User wrote: »

Do prepaid plans allow you to choose the funeral director or do they allocate one?

The one my parents took out had arrangements with one firm when they bought it which was transferred to another firm later on. Both were local family firms.