What is a funeral plan?
A funeral plan is the process of planning and paying for your own funeral in advance. This helps to take care of everything for your funeral when you pass away. Making a funeral plan ensures that your loved ones don’t have to do this whilst dealing with their loss.
We will help choose the right plan for you, whether you want a cremation or burial. There are a number of payment plans for you to choose from to help take care of your final wishes.
The cost of a funeral
The cost of a funeral can often be a lot more expensive than you might think. In 2017 the average cost of a funeral was approximately £4,000, which is projected to rise to nearly £5,000 by 2022 (SunLife Cost of Dying Report, 2017). By taking out a funeral plan now, you can reduce the amount that it could cost you later on.
Funeral plan providers can guarantee to cover the cost of your funeral whether prices increase or not.
What does a funeral plan include?
The overall cost of a funeral comprises of two elements. The first of these is the funeral directors fees which include collection, care and preparation of the deceased, as well as support and guidance for the bereaved families. Our funeral plan providers, Safe Hands, ensure that there are no extra costs to pay towards funeral director fees and funeral services.
The second element is third-party fees known as ‘disbursements’. This includes crematorium fees, opening the grave or any doctor’s or minister’s fees. Depending on whether you choose a basic plan or inclusive plan these costs may also be included.
How much will it cost?
The cost of your funeral plan will depend on what type of plan you choose. There are a number of different payment options for you to choose from. You can either choose to pay in full or through a monthly payment plan. Monthly instalments can be from 12 months or up to 120 months, depending on how long you need to pay it back.
When you die, the money for the funeral will be paid directly to the funeral director and will take care of all administration costs directly.
You can view our certification here.
Why Clever Mortgages?
At Clever Mortgages we can offer you the support and advice required to ensure you get the right mortgage for your first home. We provide access to a comprehensive range of mortgages from across the market. We are also authorised and regulated by the Financial Conduct Authority (FCA) and adhere to the Treating Customers Fairly (TCF) guidelines, so you can be confident that we will treat you with integrity and only recommend products that meet your needs.