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  • FIRST POST
    • raemac
    • By raemac 14th Jun 19, 2:31 PM
    • 1Posts
    • 0Thanks
    raemac
    Single premium life insurance for funeral
    • #1
    • 14th Jun 19, 2:31 PM
    Single premium life insurance for funeral 14th Jun 19 at 2:31 PM
    I am 69 and would like to invest 5000 in a single premium towards my funeral costs in the future. In order to cover future inflation, I would like to see some capital growth in the sum insured based on a return on the 5000 invested. Does anyone know of a single premium life insurance product that combines life insurance and investment in this way?
Page 1
    • lisyloo
    • By lisyloo 14th Jun 19, 3:34 PM
    • 25,439 Posts
    • 13,645 Thanks
    lisyloo
    • #2
    • 14th Jun 19, 3:34 PM
    • #2
    • 14th Jun 19, 3:34 PM
    Why do you need to worry about investment.
    Why not just buy a package where your funeral will be covered at whatever time it happens. This protects you against funeral price inflation which actually in recent decades has probably exceeded general investment performance.

    My FIL and MIL used golden charter.
    We were very happy with the service we received (although that could be down to the local funeral director).

    We are just discussing within my family what to do with ashes as the wishes aren’t entirely clear, so consider making that clear for your family (if you have any wishes on that matter).
    • McKneff
    • By McKneff 14th Jun 19, 3:43 PM
    • 36,657 Posts
    • 47,273 Thanks
    McKneff
    • #3
    • 14th Jun 19, 3:43 PM
    • #3
    • 14th Jun 19, 3:43 PM
    We used the Coop, excellent service
    2 funerals covered for around 7k
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
    • tacpot12
    • By tacpot12 14th Jun 19, 4:10 PM
    • 2,919 Posts
    • 2,634 Thanks
    tacpot12
    • #4
    • 14th Jun 19, 4:10 PM
    • #4
    • 14th Jun 19, 4:10 PM
    Do you want to be buried or cremated?
    The comments I post are my personal opinion. While I try to check everything is correct before posting, I can and do make mistakes, so always check official information sources before relying on my posts.
    • dunstonh
    • By dunstonh 14th Jun 19, 4:58 PM
    • 98,597 Posts
    • 67,050 Thanks
    dunstonh
    • #5
    • 14th Jun 19, 4:58 PM
    • #5
    • 14th Jun 19, 4:58 PM
    Why does it need to be life assurance? Why cant it be an S&S ISA for example?

    Does anyone know of a single premium life insurance product that combines life insurance and investment in this way?
    Yes. but I am not sure it would be suitable.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • jonesMUFCforever
    • By jonesMUFCforever 14th Jun 19, 9:54 PM
    • 26,124 Posts
    • 13,285 Thanks
    jonesMUFCforever
    • #6
    • 14th Jun 19, 9:54 PM
    • #6
    • 14th Jun 19, 9:54 PM
    My idea,
    1 Write a will.
    2 Open a savings account and deposit 5000 into it - mention this account in the will.
    3 Top this up from time to time if you think it is necessary.
    4 Forget the investment side because you don't know when this money will be needed - your demise might come at a bad time for your 'investment'.
    5 If you have substantial cash savings - why do this at all? The first claim on your estate will be the funeral bill - if you have the cash sitting in the bank then your executor can use this to pay the bill when winding up your estate?
    What goes around - comes around
    give lots and you will always receive lots
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