Hi, Over the last month or so I have been sizing up what is the best money value route so that I can arrange our funerals, which we both want to be simple and no fuss, also as I'm retired I need to keep costs down.
I am 65 and my wife is 60 both in (touch wood) good health. So from what I can see I have 3 options, which are as follows.
1: A pre paid direct funeral plan with companies like "pure cremations and simply funerals" and their prices are from £1000 ish to 2000 ish
2: Take out an over 50's plan from British Seniors (went with them as they get good reviews) from who I've had the following quotes and the process are per person
£8000 payout @ £45.36 monthly
£6000 [email protected]
£10000 payout @ £54.79 monthly
Now I know that if we hopefully live a long life that I will end up paying more into this than what I'll get back and also due to inflation that the payouts might not be enough to cover the funerals. However the other argument is that if any of us die in say 2 years we would then get the full payments from British Seniors and that would cover funeral costs at present.
3: Last option I pay the equivalent of the monthly payments into an ISA savings account that I already have and then use that account to pay for our funerals.
Sorry for the length of this post, but as you can tell I'm struggling with what decision I should make.
Thanks in advance for any advice