All you need to know about making funeral plans
It’s natural to put off thinking about death, but facing up to it sooner rather than later can actually be a weight off your mind. No one’s getting any younger and if illness or a condition like dementia were to strike it could be harder, or even impossible, to make funeral plans and arrangements yourself.
Time’s also of the essence when it comes to costs. Funerals can be expensive – the average cost of a funeral in the UK is £4,078*, double what it was in 2005 – and someone close to you will have to pay the bill. Having a funeral plan can protect you against further price rises and ultimately ease the financial pressure on them or your estate.
The benefits of funeral planning in advance can be priceless. Not only will you be supporting the people you love even when you can’t be there, you’ll also be rewarded with peace of mind to continue enjoying life to the full now.
*SunLife Cost of Dying Report 2017
What is a funeral plan?
It’s a straightforward way to pay for and arrange aspects of your funeral in advance, lightening the financial and practical load on loved ones when the time comes. A funeral plan does not cover all costs associated with a funeral so always check what’s included and how much the extras could cost for your family.
So if you’ve ever wondered how your loved ones might cope with arranging your funeral, or you have a view on the kind of send-off you’d like, a funeral plan could make sense.
Making funeral plans – what to think about
1. Rising funeral costs
The average cost of a funeral in 2017 was £4,078* – up a massive 112% since 2004
And that figure is before extras like catering, venue hire, flowers, notices and memorials have been factored in, which on average add almost £1,930 more to the final funeral bill.
2. The type of funeral you’d like
Your choice of a cremation or burial can also make a difference to the cost of a funeral. The average cost of a burial is £4,561, over £950 more expensive than the average cremation cost of £3,596.
3. How much you can afford
Remember, any contribution you make to the cost of your funeral will be a help when it’s most needed. Funeral plans often come with a range of options to work within your budget.
4. Your own wishes
Is there anything you want to make your funeral more personal? Like your favourite song or an item of clothing to be sent off in? Anything goes these days, from Hawaiian shirts to wellies.
How our funeral plans work
Things you should know
There are two ways to pay for our funeral plans so you can choose what best suits you:
1. Paying monthly with life insurance
Can be more manageable, but there’s a two year waiting period before the services under the plan will be provided. Full details are in the terms and conditions
2. Making a one-off payment
Means finding the money up front, but your plan will be in place straightaway
The funeral services will be provided by Golden Charter, who are the UK’s largest network of independent funeral directors and are regulated by the Funeral Planning Authority.
Why funeral planning makes sense
Funeral prices have risen massively over the years. With a funeral plan, your chosen funeral is sorted no matter how much prices rise, leaving loved ones with less to pay for at the time.
Also, by making funeral plans in advance, you’re more likely to get the send off you want because you decide as many of the specifics as you like. And, your loved ones won’t be left to make lots of difficult decisions as they try to second guess your wishes.
And finally, taking positive steps to ease the financial burden and worry of your funeral for loved ones whenever that may be, will give you all peace of mind to get on with living now.
Help to plan your funeral
My Perfect Send-Off is our free planner that guides you through some of the choices you can make now for your funeral. It also documents your wishes so you have a lasting record to keep safe and share with loved ones.
All funeral services are provided by Golden Charter. Who are the UK’s largest network of independent funeral directors nationwide and is regulated by the Funeral Planning Authority.
It’s hard to know if savings or life insurance will be enough to cover everything that might need to be paid for when you die, including your funeral costs. And money can’t help loved ones with funeral arrangements. Whereas a funeral plan is guaranteed to pay for and arrange the funeral services included in it, as long as the required payments have been made.
It will cover the entire cost of all the services included within it. Exactly what’s covered will depend on the plan you choose. Your loved ones will need to pay for any extra requirement not included in your plan when arranging the funeral.
Third party costs – the fees for the doctor, the officiant and the crematorium or cemetery - are not within the control of a funeral director. Our funeral plans include a rising allowance to try and make sure these costs can be covered. However, if at the time of death these costs exceed the allowance, the excess will need to be paid.
Our funeral plans include most aspects of a basic funeral and the funeral director’s services. Any extra personal touches can be costed and arranged by the funeral director and paid for at the time. For example, additional transport, flowers, the wake, printing, a burial plot, headstone or memorial, or a service before the burial or cremation.
A funeral plan is designed to protect against future price rises. The funeral services specified in the plan will be provided at no extra cost to your loved ones, regardless of any rises in the cost of a funeral.
Only if the allowance included for third party costs is not enough to pay these fees in full at the time of the funeral, will the excess have to be paid.
The cost and availability of burial plots varies significantly from region to region making it hard to set a price.
Your family will only need to make one phone call and then the Golden Charter funeral director will see to the arrangements. They’ll also give support, advice and guidance to your loved ones throughout. All contact details are set out in the welcome pack.
Our plans are open to all UK residents aged 50 or over. To pay with life insurance, the person named on the policy must be aged 50-80 at the start of the plan.
Golden Charter will nominate one of their local funeral directors to take care of you, carry out your funeral and support your loved ones.
Yes, you can – as long as they’re over 50 and a UK resident. If you want to pay for their funeral plan with a life insurance policy, the person must be aged 50-80 because they will be the named policyholder and you will not be entitled to the proceeds of the policy.