Funerals can be very expensive, last year funeral costs increased by 5.5%. On average, about £4,000 is spent by bereaving UK residents, which is why we strongly recommended planning ahead. Most people plan for their holiday vacations and even their weddings and family life, but they neglect thinking about the inevitable.
Preparing for your funeral ahead of time will help spare your loved ones from paying sky-high expenses when you are gone. Availing of a prepaid funeral plan should be one of your priorities.
How a Funeral Plan Works
If you are looking at how to organise a funeral on a budget, you should consider investing in a plan as early as possible. Typical funeral plans cover funeral director services, minister’s fee, and crematorium fee. Other plans cover floral arrangements during the funeral service. In case you prefer burials, plan providers also offer this option instead of cremation. Regardless of how far in the future death happens or where you live when that moment happens, the funeral plan will provide the required coverage.
Prepaid funeral plans allow you to pay in lump sums or instalments. Some plans are payable within one year while others can last up to five. The payable amount is the same, regardless of the age you apply for coverage. Each plan provider differs. Some offer a fixed monthly payment for a specific period.
When you plan to shop for the monthly prepaid funeral plan option, you should check the initial deposit required by a company. Then, look at their monthly rate. As much as possible, try to compare at least three providers so you can find the right deal.
How to Choose a Funeral Plan Provider
Aside from comparing the initial deposit plus the monthly fee, you should also check the reputation of the company. Are they financially stable? How big is their market share? If you are planning to have a funeral on a budget, you should determine if the company can return your investment when the moment comes. Don’t forget to consider the additional costs you or your family have to pay in the future.
It is also important to check the quality of funeral service the company provides. Ask about the premiums included. Can they provide transport for your loved ones from their location to the funeral director’s office? How fast can they transport a deceased body? Do they provide a counselling service for the bereaved members of the family?
Lastly, you should check reviews from the family of their clients. How was their experience? Do they have complaints about the plan provider?
Today, more and more people are open to planning for their death. It may seem scary at first, but nothing is worse than leaving your loved ones paying for expensive funeral costs when you are gone.
Make sure you have all your affairs in order so as not to overly burden your family at such a difficult time.