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Funeral Policy
driveallnight
Posts: 10 Forumite
Hi, can anyone help please, my dad has a funeral plan policy which he has been paying in to for 10 years or so. He has calculated that the amount of money he has paid in now exceeds the amount of money that would be paid out in the event of his death. Does he still have to continue paying in?
Many thanks
Many thanks
0
Comments
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driveallnight wrote: »Hi, can anyone help please, my dad has a funeral plan policy which he has been paying in to for 10 years or so. He has calculated that the amount of money he has paid in now exceeds the amount of money that would be paid out in the event of his death. Does he still have to continue paying in?
Many thanks
Not sure anyone can answer this without knowing the plan that he has.
I suspect that he has to continue paying into the plan, otherwise it might not pay out. If it were a plan that you paid into for say 5 years, they would have stopped it.
He should phone the company concerned to ask the question.The comments I post are personal opinion. Always refer to official information sources before relying on internet forums. If you have a problem with any organisation, enter into their official complaints process at the earliest opportunity, as sometimes complaints have to be started within a certain time frame.0 -
What type of plan is it?
Is it an investment plan, savings plan or insurance?
If it's insurance then sometimes you win and sometimes you lose.
The irony is that the upside of not claiming is that he's still alive, so I'd say that's good :-)
Loads of us pay for car insurance but are very glad not to have a car crash.
Seriously he needs to find out more, but if it's insurance based then he would need to keep paying.0
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