Welcome to our website. We publish different articles about funeral plans in the UK. We also list the different companies providing funeral plans, as well as the reviews they receive.
Funeral Plans Explained
What exactly is a funeral plan? Funeral plans cover the entire cost of a burial or cremation service and allow you to include what is most important to you in your final expenses. So, do you need a funeral plan now? Maybe you will need to take out a policy to help keep your family from the stress of having to decide, arrange and pay for your funeral service when the time finally comes. Knowing the facts before you make a decision, can help to make death easier to cope with.
There are many types of funeral plans. They include Term Life Plans, Whole Life Plans and Variable Life Plans. If you are looking to extend or increase the funds you have allocated for your final expenses, these plans can work for you. You can choose a type of payment that allows you to reach your financial goals without having to wait for your money to grow. These plans can also offer flexibility, such as increasing or decreasing your payments at your discretion throughout the life of the policy.
The different types of plans also have different ways in which they pay. Some plans offer fixed monthly instalments, where a certain amount of money is held in a savings account until it is used. Other plans use a fund-management system to track money going in and out of the account. Your monthly instalments will depend on the amount you have saved, as well as the plan you have chosen. With instalments, your money is held securely in a high-interest savings account, but it is not accessible unless you draw it out. Therefore, some families feel that having a fixed payment each month is a better option.
The type of payment you receive depends on how much you expect to spend on your services. The average cost for planning a funeral is around eleven per cent of the total budgeted amount for the funeral. For families who have a tight budget, the prepaid funeral plan may be the most affordable route to take. The amount can be paid for in one lump sum, allowing the family to have peace of mind that the funeral will not be financed with the family’s credit card or other financial means. Another benefit of prepaid plans is that they do not limit the spending ability of the family, since the money is only spent when it is needed. Many families choose this option, knowing that over time the average cost will come down.
There are also options to include items in the funeral service program. If you elect to do this, your provider can place all the items you want in a single payment and mail the program to your client. This is often a convenient way to list items you do not want to leave out. Other providers charge a flat fee for listing items, which can make everything included in the service very expensive. With a prepaid plan, all the money goes towards the funeral or memorial service, leaving the client with a one-time bill that is easy to pay for.
One more option available to those who need financial assistance is approved funeral directors’ plans. These plans allow families to use a specific amount of money to cover costs for items and services listed in the plan. The amount is determined by your age, gender, marital status and other information the funeral director has gathered. Since the approved funeral directors’ plans are usually considered part of the overall payment structure, they are very flexible. Families can get anything from a single payment for a simple memorial service to a large payment for everything included in the program.
Making Sure You Have the Right Funeral Plan
When planning a funeral, many families find that they are not sure how to pay for it. This can be a very stressful time, especially if you have never planned an individual’s funeral before. You may ask your family members to save money for a funeral or look into different types of loans and grants to help cover costs. Although some families do help financially, some families can not afford to provide financial assistance. In this case, the person responsible for paying for the funeral must have a plan in place. Funeral plans are an upfront payment that you make in advance to cover all the costs of your loved one’s funeral.
Funeral plans come in many forms, including a coffin, casket, burial stone, headstone, cremation container, hearse, etc. Funeral plans also differ in terms of price and what is included in the basic plan. Different funeral plans cost significantly differently among providers, so you must carefully compare different funeral plans before settling on a plan that is right for you. Different types of coffins include natural, marble, granite, wood, brass, bronze, stainless steel, ceramic, and porcelain.
One of the most popular types of funeral plans available includes prepaid funeral plans. Pre-paid plans allow families to select the type of coffin, hearse, and other services included in their service and then pay an amount of money to the service provider at a pre-determined rate. For most families, pre-paid plans are very helpful because they provide for all the items needed for burial without having to pay for them up-front. There are no unforeseen costs when using prepaid funeral plans, and often, the only out-of-pocket expense is the prepaid funeral plan charge.
Most people are familiar with the traditional burial that follows a period after death. After the body has been cremated and the remains are kept with the family, a time known as the period of transition is observed. Family members help to dress the deceased, attend to any final wishes, manage expenses, etc. If your loved one was not able to have a memorial service, the surviving family members may decide to bury the deceased. Burial services usually follow a period known as the passing of the torch where the surviving family members begin planning the future of the deceased.
It is important to note that not every funeral plan is right for each family. If your loved ones do not embrace a specific plan, make sure to do your research to make sure you are choosing the best deal possible. If you have specific questions about any aspect of the plan, be sure to ask the funeral home or provider of the plan before making a final decision. They will be more than happy to answer your questions and make sure you have the information you need. Choosing a funeral plan that is affordable and suited to your budget is important so that you can provide your loved ones with the best funeral arrangements possible.
In addition to choosing the right type of funeral service, making sure you have a funeral plan can also help you pay for your funeral expenses. Some funeral plans offer discounts on certain items, while others even offer cashback when purchasing certain items. Also, depending on your income, you may be eligible for tax deductions upon the death of your loved ones. Knowing all of these options can make life easier and less stressful if you are left behind by your family due to sudden financial loss.