Are you wondering whether or not you might need a funeral service policy or thinking about the benefits of purchasing a policy?
Are you also unsure what the best services for your particular needs are and thinking about whether or not this is going to be a time-consuming process or not? Well, you have come to the right place because we have got you covered on this. Everyone needs to buy funeral service policy at some point and we are going to be taking a look at the simple and easy process.
A funeral service policy is a pre-arranged funeral plan where you pay for the services of a funeral director at today’s price. This is a simple and easy way of planning for an unexpected event without the need for the family to go through a lot of stress.
This process takes little or no time to achieve, and it saves your family from the stress of having to plan for your funeral when they are already going through a lot.
This is a bold step that you need to take, and we are going to be taking you through the process as well as the perks of getting it done as soon as possible.
Quick reasons to get a funeral plan
Getting your funeral planned ahead of time is a growing trend today. More than 69% of adults over the age of 40 stated that they would prefer a pre-arranged funeral for themselves according to a survey done by the Funeral and Memorial Information Council (FAMIC). Here are some reasons why most people are choosing to get a funeral plan:
Benefit #1: Increase in funeral costs
One major factor that most people consider is the funeral cost. The price of a funeral is likely to increase due to inflation and without proper planning, it would cost a lot more in time which the family needs to be prepared for the funeral within a short time. This is an important consideration and if anything could be paid for beforehand, it is a good decision.
Benefit #2: Fewer worries when the inevitable happens
For responsible parents and partners such as ourselves, the one thing that we always want to avoid is putting our family members in a position of compromise when the inevitable happens. One of the best ways to make sure that this won’t happen is by making funeral arrangements in advance.
Doing so would help cover the cost of every arrangement and put fewer worries on your mind as well as your family when the inevitable happens.
Benefit #3: Save money (since it is not included in your inheritance tax)
One of the major things we would love to remember when we are gone are memories, and this does not happen when we leave the family with a considerable funeral burden which would cost them a lot. This is why the importance of a pre-planned funeral program is the ideal thing to do.
Another reason that you have to remember is that whenever the cost is incurred, you cannot deduct it from the value of the estate for inheritance tax purposes. This leaves them to pay for this with their own money if plans have not been made.
Benefit #4: Funeral plans allow multiple planning for various family members
If family members need to buy funeral service policies to avoid the shock and cost of the inevitable from happening, then it is one of the benefits that come under the funeral coverage. This means that anything that might occur in the future is already covered without any fears related to cost or problems for the family.
Benefit #5: You get to plan your funeral just the way you want
Many people have specific ways on how they want to be buried, and some of them would like to observe traditions that they wish to be done when they are gone. Some might want to be cremated, while others might not and doing this gives you a chance to plan. Funeral plans allow your family to do the very things you ask without thinking that it is almost impossible to achieve.
How does a funeral plan work?
In this section, we are going to look at what is included in a funeral plan for you to understand the benefits of putting everything in place before the inevitable happens.
A funeral plan is divided into two sections:
- The first section of this is the bill; these are the charges paid to the funeral director for all the services rendered, including funeral car, staff, and equipment including caskets.
- The second section covers payments to the third parties, such as church fees, cemeteries, and ministers. This is something the financial director has no control over and is prone to increase in cost.
Another thing that comes with funeral planning is the advice on how to properly register the death and get a death certificate. Which to most people is unknown as they may not have had any experience with any close family members passing away.
Funeral Director Services
The first section covers the services rendered by the funeral director, and we are going to be taking a look at them one after the other. The funeral director helps you make sure that everything from the funeral arrangement down to the funeral tributes goes as planned.
Third-party services are services required for the funeral to go as planned but are outside the scope of service of the funeral director. This section covers the services covered by third-party services that are payable before the time of the funeral as well.
1.) Cemetery burial plot fee
This covers the fee for the burial plot, and this is decided by you and especially with regards to what you want. This is an important part of any burial arrangement as other factors such as ease of visit, final requests and all have to be factored into the equation.
2.) Crematorium fee
This fee is applicable if the deceased wanted to be cremated or not. Cremation is an option and it is considered when the deceased requested it. We have seen situations where the deceased would like their ashes to be spread across the sea in the presence of family and friends.
Assigning a minister who is going to be handling the processing of the funeral mass is also going to be handled by third party services. This can also be according to personal request or left to discretion.
4.) Chapel/church service fee
The chapel is another essential part of making funeral arrangements in advance and is again covered by third-party services. Nobody can dispute the importance of a church service which because this is where family and friends say a few kind words alongside
5.) Doctor fee
The doctor fee for autopsy is another crucial aspect of funeral service policy, particularly to determine the cause of death and to make sure the deceased was not murdered in any way.
What to look for in a funeral service policy
Now that we have covered all the aspects of funeral service policy as well as the funeral benefits, we are going to be taking a look at some of the essential considerations you need when making a choice. You need to know this before choosing because it would determine the success or failure of the funeral.
1.) Check the cost of the policy
Many funeral plans cover the funeral director’s services but do not add other expenses. When the price is something that you need to consider, it is not as important to check the cost of what the plan offers. You also have to consider the additional charges that you have to pay for the plan.
2) Transparency of details
One factor you need to consider is transparency. You have to make sure that you have a provider that keeps you informed along every single step.
3.) Safety of the instalments paid
Most funeral plans need to be paid in instalments, and you have to make sure that you did not lose what you already paid. The safety of instalments is an assurance that irrespective of the tenure of payments, you still have a guarantee that your payment is safe.
4.) Legal compliance
When you want to buy a funeral service policy in the UK, you have to make sure that they are registered with the Funeral Planning Authority (FPA). Your funeral service policy which goes to prove the level of legal compliance the company has and this can help you trust them better. You cannot afford to joke with this because a lack of legal compliance means you the government does not recognize the provider.
Getting a funeral plan is not a time-consuming process, and everything from the initial process down to the payment can be done in less than an hour. There are many benefits of having a funeral plan for you and your family and we can help you accomplish that.
My Estate Planning works with you and helps you choose a best-fitting funeral service. We help you create a funeral plan which suits your requirements and we reduce the pressure by helping you secure an affordable plan from growing costs on funeral services.
Find out more about My Estate planning’s funeral plans and how it protects customers’ payments.
We make sure we give you the best funeral services. Inquire and purchase one of My Estate Planning’s funeral plans. Call us on 02045165969 and we’ll help you protect what matters to you the most.