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Over 50s plans

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Comments

  • rlatham1972uk
    rlatham1972uk Posts: 1 Newbie
    Are the new prepaid funeral plans better than a over 50s policy? I've been in touch with this company Flexible Funeral Directors Stockport. They noted that a plan is guaranteed to cover the costs compared with an over 50s policy that may not.
  • civil12345
    civil12345 Posts: 186 Forumite
    Does anyone know the answer to the questions I've posted?
  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    civil12345 wrote: »
    Does anyone know the answer to the questions I've posted?

    No because there are so many variables - nobody can foresee the future.
    Over the last decade we have have had relatively low inflation - who knows what it will be in the future - how long will your relative live?
    If you pay for a funeral now what happens if the undertakers go bust?
    The only good thing about an over 50's plan IMO is that they do not ask any medical questions and they will take anybody on - that's it really - £25 invested in stock and shares over say 10 years should be a better investment.
  • dunstonh
    dunstonh Posts: 120,009 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    And if your mum does qualify for underwritten life assurance, then that would likely be better than an over 50 life insurance plan.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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