Often there is the worry about the financial burden of the funeral
what will it cost ?
will there be enough savings left to cover the full cost ?
will the family be able to get hold of the money easily to pay the bill ?
One way to deal with this is to put money aside in a savings plan, or take out an
insurance policy - but how much will you need? In recent years the cost of funerals
has roughly doubled every 10 years, so it can be hard to be sure that there will
be enough to cover the future costs. Meanwhile those savings are vulnerable to other
claims on your assets, such as having to use them to pay residential care costs -
so there might be little left to actually cover your funeral costs.
For these reasons and more, increasing numbers of people are purchasing a pre-paid
funeral plan. There are many options available, so you should check carefully to
see what is (or is not) included and whether or not your payment is protected. Recently
we have seen adverts from some funeral directors promising that with their plans
“...your family will not pay a penny more”, but hiding in the small print the fact
that actually they might well have to pay extra for third-party disbursements.
InHouse only ever considers a plan where the funds are kept in a separate trust,
independent of any funeral director or any other firm. The funds are then ready to
be released to pay for funeral arrangements when required. Although you might be
living here in Leicester when you take out a plan it can be used anywhere in the
country, so there is no problem if you move home in the future.
There are various options available, allowing you to choose the type of arrangement
that suits you. However it is always best to talk things over in person so that
you can be guided through the different possibilities. That is why InHouse can provide
a home visit to help you make the most appropriate decisions.
Pre-paid Funeral Plans
Paying for a funeral at today’s prices can save money in the long term and remove
a major worry from your family. But funeral plans differ greatly - check carefully
before making a purchase.
Of course, finding the money for a funeral is only part of the story - it still leaves
the family to make the detailed arrangements at the time. Hence you may wish to plan
some or all of the details by creating your own personalised funeral plan.