Pre paid funerals/over 50's or Savings account

hb2

My Mum prepaid her funeral several decades before she died and the FD commented on how much prices have risen since then. It worked well as she had chosen what level of coffin etc she wanted, so we knew we were honouring her wishes. 

It worked so well that OH and I decided we would also take out a pre-paid plan. I say 'a' plan as we were able to pay a single supplement (I think it was less than £100) and the plan would then cover whichever of us dies first. We are paying monthly as it is 0% interest, if one of us should die before we have finished paying, all the survivor will have to do is pay the remainder. 

voddyman

hb2 said:

My Mum prepaid her funeral several decades before she died and the FD commented on how much prices have risen since then. It worked well as she had chosen what level of coffin etc she wanted, so we knew we were honouring her wishes. 

It worked so well that OH and I decided we would also take out a pre-paid plan. I say 'a' plan as we were able to pay a single supplement (I think it was less than £100) and the plan would then cover whichever of us dies first. We are paying monthly as it is 0% interest, if one of us should die before we have finished paying, all the survivor will have to do is pay the remainder. 

Hi hb2, Can I ask, what's the name of the company and plan that you are referring to?
I would be interested in having a look at that myself 
Many thanks 👍🙂

geminilady

I would go for a funeral plan,you could both live another 20 plus years and who knows what the cost will be then.Have a look at Safe Hands they are members of the FPA  and the price is guaranteed at today's prices.You can have it as simple as you wish,direct cremation if that is what you want,people can pick anything they would like down to any songs or hymns being played

minty777

geminilady said:

I would go for a funeral plan,you could both live another 20 plus years and who knows what the cost will be then.Have a look at Safe Hands they are members of the FPA  and the price is guaranteed at today's prices.You can have it as simple as you wish,direct cremation if that is what you want,people can pick anything they would like down to any songs or hymns being played

Safe hands are ok but you might find in 20 years or less or more your representative might have to add money to the allowance of £1,200 which rises by cpi each year.And if you pop yer clogs over 20 mile away your rep will have to pay extra to get you to your chosen director

Owain_Moneysaver

minty777 said:

And if you pop yer clogs over 20 mile away your rep will have to pay extra to get you to your chosen director

But perhaps by then there'll be Uber Funerals

voddyman

Owain_Moneysaver said:

minty777 said:

And if you pop yer clogs over 20 mile away your rep will have to pay extra to get you to your chosen director

But perhaps by then there'll be Uber Funerals

🤣🤣🤣🤣

hb2

Our plan is with 'Dignity' (not Dignitas, that is something entirely different!), they have funeral directors across the country.

KxMx

Definitely make sure funds are also available to top-up the pre paid plan if required.

My Granddad died about 5 years after pre paying for his (with a local family run firm), even though no extras were added at all and with nothing changed there was still a top-up of several hundred pounds needed, due to the rise in costs.

Mojisola

hb2 said:

It worked so well that OH and I decided we would also take out a pre-paid plan. I say 'a' plan as we were able to pay a single supplement (I think it was less than £100) and the plan would then cover whichever of us dies first. We are paying monthly as it is 0% interest, if one of us should die before we have finished paying, all the survivor will have to do is pay the remainder. 

My parents had a plan like this from AgeUK.  Once they had paid this one off, they were able to assign it to one of them and start paying for another plan for the other.

By the time they died, the cost of a funeral had gone up a lot. 

With the plans they had, the full cost was guaranteed - no top-ups required.  Read the small print carefully before choosing a plan.

castle96

For me, my Estate/residue will pay for whatever funeral the kids want. These over 50/30 plans are a rip off. The only use  I have for the 5/6 that there are, are the M&S/Argos vouchers. Put yourself down as 51/31, pay eg 4 premiums, collect £100, cancel DD and eat well from M&S !