Options
Funeral plans, good idea?
Hi,
My wife and I (now in our 60's) have been giving some thought about getting some sort of pre-paid funeral plan arranged.
Just wondered if anyone has got one of these and if are they a good idea?
Any advice would be greatly appreciated. Thanks in advance.
My wife and I (now in our 60's) have been giving some thought about getting some sort of pre-paid funeral plan arranged.
Just wondered if anyone has got one of these and if are they a good idea?
Any advice would be greatly appreciated. Thanks in advance.
0
Comments
It's a discussion our parents had with us a few months ago, they in fact decided to donate their bodies to science - pays for cremation and you receive the ashes about 2-3years later.
It's a deeply personal choice, for them, we were happy whatever they decided, but not being religious and with several of us having benefited from people doing this (for me in research, and mother during her earlier medical work) it seemed a rational choice.
We'll have a big celebration of their life, with photos and videos and plenty stories... Just minus the casket! 😆
My Mum-in-Law went to a funeral parlour, picked her coffin, her hymns, and paid for 2 cars - and did that 5 years before she died. It was a fixed price and all I had to do when she died was contact the funeral parlour and quote the reference number of the contract. I had nothing extra to pay, and no work to do except organise the music for her to be played into (she specifically asked me to do that bit!). Otherwise, all I had to do was a quick trip to the Sheriff Court to get a signature so that I could execute her will, and that was that.
I think the company that did the funeral contract was Dignitas. Not sure if they still exist.
Personally, I would never go for the "Michael Parkinson" type plan (or the equivalent on other places - e.g. Asda, Tesco, LV, etc. Just go direct to a Funeral Director.
Going to see the undertaker of choice and having that discussion would be my advice too. My undertaker lives 2 doors up. So very handy.
Isn't Dignitas the outfit abroad for accompanied suicide?
That's what we've done, we did it through Golden Charter and paid a fixed price. We did consider the 'Direct Cremation' which is the cheapest plan and is basically a 'pick up the body and burn it' service, but thought the family wouldn't like it.
Sorry, for some reason I thought the OP was asking about the "Michael Parkinson" thing, I don't know why.
It does seem a good idea though. Thanks all once again:)
Have a read of this to give you some idea - http://www.co-operativefuneralcare.co.uk/pre-paid-funeral-plans/
A friend lost a family member last year and the cremation came to about £4000, and it was far from lavish . As his 'core' family are on benefits they're now getting taken to court by the undertaker because the DWP have refused to put anything towards it, they can't afford it, and they can't even pull it out of his estate as there isn't one. On top of having to deal with the guys sudden and unexpected death, they've now got to deal with an aggressive undertakers dragging them through court, which will ultimately end up with bailiffs.
I have heard of a paupers funeral, is that the case?
Edit: just found this.
http://www.bbc.co.uk/news/uk-34943805
In my experience, the total cost, including the undertaker's fee, the church, the coffin, and the burial plot & cemetery charges comes to anything between three and five thousand pounds.
I know my son, an only child, probably won't be able to afford my funeral, so that's why I'm having a funeral plan in place. Plus it saves a lot of money as I've no intention of dying for quite a few years yet.
Some people get confused between funeral insurance and funeral plans
Funeral insurance is a monthly payment scheme where you will get back a certain amount, as long as you have been it for the required time. You have to pay a high premium to cover the cost of an average funeral.
If not you should get back all premiums paid , some pay more.
It can be confusing, trying to find the best one
You could get back less than you paid in, if you live to a great age, though some firms are compensating for this.
Funeral plans involve paying a set amount up front, and that's it
No more to pay however much costs go up, which they will
This is the best thing to do if you can afford a lump sum up front.
To be fair, those 'aggressive undertakers' are running a business and they have provided a service so why should they end up out of pocket. Why should the DWP be expected to put towards the cost of a funeral? I don't understand why someone would arrange a £4K funeral if they did not have the means or the intention of paying for it.
Just because you are not yet 40, doesn't mean you shouldn't make arrangements
Death is no respector of age.!
It's because people find it too morbid that the family has to sort all the mess out when their loved ones die
If you want to spare them distress at an awful time, set something in motion now.
I haven't encountered any undertakers who demand money up front - they generally know that executors won't have immediate access to the deceased's funds and are happy to wait for their invoice to be paid after probate/confirmation has been obtained (or banks may make an exception and allow the costs to be paid earlier).
I think mum just wanted it sorted to save me the worry of having a bill hanging over my head. All I had to do when the time came was take her death certificate into the bank and then the accounts were just put in my name alone.
This probably wouldn't work if there is more than one beneficiary, but it did for us.
Just think how much a funeral will cost when you're 70, 80 or 90. It makes so much sense to buy it now and save a load of money. You can even pay it in instalments if you haven't got the cash up front. Plus by making the arrangements you get exactly what you want, which is also a relief for family if they don't know your wishes and you're not burdening them with a big bill. Funeral plans are insured so you can't lose your money either.
I'm going with the Co-op because I get points too :D
That was my reason for going with the Co-op, too.
I bought a funeral plan a few months ago. And I got a discount because I'm a Co-op member - it cost me about £3,000 for a basic cremation. Bargain.
It seemed a good idea to get it sorted, and save my children one task at least.
I'm 67 by the way, and I hope to carry on for a good while yet. But however much funeral costs go up the Co-op won't ask for any more money (they assure me).
My one reason for reluctance was that I might die in a plane crash or the like and there will be no body to have a funeral. What an annoying waste of money if so. I could have spent it wisely on booze and **** instead. But, c'est la vie, I'll just have to take the risk.
They can be very cheap, if paid in advance.
Well let's hope they pay out on yours! We paid for funeral plans two or three years ago, and should have had about £100 in divi. Then the co-op (short for con-shop) announced they weren't paying any dividends that year.
I fully agree with this because if you stop paying in you lose the cash you've already paid in. Far better to either pay a funeral director service in advance or pay £5 or whatever a week/month into your own dedicated savings account to save up that way.
It's a selfish point of view
Your relatives will have the burden of your funeral if you don't do anything about it
They will not want you to have a paupers funeral.
Make it easier for them by either saving specifically for funeral costs or, if you can afford it, get a funeral plan.
Why would it cost any more in real terms? Just invest the money yourself, at least you then have access to it if you need it for something else in the meantime.
There's no way it would make enough interest to pay for a funeral, whereas a once off payment now will pay for it even though the actual price will have increase in the next few years.