Are pre paid funerals secure?

saichia

my husband and I are considering getting a pre paid funeral plan. we have shopped around our local funeral director sand they all seem willing to give us what we want and all vary in cost of course. we are both on benefits and do not want to burden our children with the cost of our funerals.
Before I sign on the dotted line, I wonder if anyone knows how safe and secure a pre paid funeral is?
we have a small (limited) life insurance to pay for the disbursements when the time comes.
Any information will be gratefully received

forgotmyname

Depends on the company and whether its properly secured/insured just in case they go bankrupt.

Where is the money help and by who?

If your children are financially secure open a joint savings account with them?

Although saying that the cost of funerals is quite possibly going to exceed the interest earned on your money.
FIL took out a policy for the MIL, after paying that in full he then took one out for himself and paid £400 more. In the space of 12 - 18 months the price had gone up £400.

Looking into getting one and hoping someone pops in who knows how secure they are.

EdGasket

Co-op have been around for years and probably will be going forward.

Weighty1

A lot of the time the funds within the providers coffers are held in trust and are therefore as safe as they can be.

OR, they are part of an insurance contract which is covered by the Financial Services Compensation Scheme. Often a combination of the 2.