funeral plans for under 50's

bagpuss38

Hi can anyone help.

Not that I'm shuffling off this mortal coil yet, at least I hope not!.

I've been thinking about starting a funeral plan so that in the event all is sorted and no one has to worry about what to do.
Hubby is terrible in a crisis let alone a death.

So I looked around and it seems rather hard to get a plan if you are under 50.
I'm 40 now.
Would it worth pursuing this or would life insurance be a better option?
I would hope to have a pay monthly plan.

Many thanks in advance.

Mojisola

You could be around for another 40+ years - I wouldn't buy a funeral plan at that stage of life!

bongonaut

If you are looking to put money aside with the specific intention of it paying for your funeral, then a proper pre-paid plan (rather than insurance) is a good way of doing so because it will provide financial guarantees that your family or estate will never be asked for a penny more in the future for the FD services (and sometimes selected third party fees) covered by the plan. If you live for many years, it could prove to be a very sound financial decision, particularly if you have the available income/capital now.

Providers such as Golden Charter have no age restraint either way, and offer instalment options for up to 10 years.

That said, if you are only 40, it's still a significant spend.