We live in uncertain times. Now more than ever, we want to secure our future with our loved ones, and part of planning for the future is to prepare for the inevitable: death.
But how do we prepare ourselves for unforeseen circumstances? What if we cannot afford a funeral plan for ourselves as well as for our family? With the help of technology, it is now easier to look for cheap funeral plans that best suit each person’s individual needs.
In this article, we will introduce you to important topics such as the average cost of funeral plans, the services that are included in the package, and a quick rundown of funeral payment plans.
We will also be giving you a list of benefits in investing in funeral plans in the UK, tips on conducting the right research for the perfect funeral package for you, and much more.
Read the entire article to find insights about these topics and to become more prepared for your future.
Dangers of Not Having Money for Funerals
According to the Guardian, funeral costs now stand at approximately £3,456, a rise of 80% since 2004. If you include the extra costs for flowers, wreaths, catering services, and venue rent, the total expense will be a staggering £5,502. The University of Bath has noted that one in five families experience a shortfall when it comes to paying funeral expenses.
It is important to note that these figures change quickly, depending on many factors. What we can be sure of is that it is necessary to allocate some budget for these types of expenses.
With that in mind, we have compiled a list of the disadvantages of being unprepared when it comes to burial matters and beyond:
- Resort to low-cost burials
Low-cost funerals are not entirely a bad thing. But as the name suggests, they are a type of funeral where you have extremely limited choices. You only get exactly what you pay for and that may mean substandard materials for the casket and other materials that will be used during the funeral, and, even worse, incomplete services.
- Get into debt
There is a possibility of getting into debt if one fails to plan regarding the applicable funeral or burial ceremony for your loved one. It is important to make prior arrangements so that all the necessary costs can be accommodated ahead of time.
This is what funeral insurance is for. With funeral insurance, you can pay for your funeral, or someone else’s, bit by bit, until you have paid the entire cost.
- Burden the family to chip in
In cases of sudden deaths, such as in road accidents or natural disasters, your family may rack up hospital bills and funerary costs. Getting a funeral plan is a considerate move, as you are not passing the burden to your family and loved ones of paying a large amount of money during dire situations and unforeseen circumstances.
- Go through strenuous government aid filing
One can also ask for government assistance. The major problem with this is how strenuous the process can become. You will end up mourning for unnecessary stress and lost time, rather than paying respect to the deceased.
Understanding Funeral Plans in the UK
It may seem less important than other investments at first, but as you take steadier steps towards your future and that of your family, investing in funeral payment plans makes just as much sense as investing in a health insurance package.
Funeral plans can help you in many ways. Aside from minimising the stress of having to worry about where to gather funds when an emergency arises, most funeral plans these days are also customisable. This means that you will have a lot of options to choose from.
Here are other major benefits of investing in a funeral plan now:
- Arrange your funeral
With a funeral plan, you can arrange details about your funeral or that of your relative. You can opt for simple funerals or go for something grander. The choice is yours.
- Pre-plan the funeral event details
Following on from the first benefit, you can also pre-plan other details regarding the funeral. Details such as the flowers, the music, the type and material of the casket, and other specifics, will be decided by you.
- It can help you save money
Perhaps one of the most important aspects of investing in a funeral plan is how it helps you save money. With a wide array of choices, you can choose the one that suits both your criteria and your budget, and with flexible payment terms, you can determine a payment scheme that is sustainable for your current lifestyle.
- Your family don’t have to cover the cost when you die
One major setback of being unprepared is how it adds a burden to those who will be left behind. Death is rarely predictable, and for individuals who have not saved for this event, the hassle of setting up everything for your funeral will be passed on to your family and relatives.
Qualities of an affordable funeral plan
There are many affordable funeral plans for over 50s and funeral plans under 50 years in the UK, but how can you tell one from the other?
Here is a list of qualities that you should be looking for when choosing which funeral plans to purchase:
- Guarantees to cover all funeral directors’ fees
Depending on the company that you contact, do make sure that the funeral plan that you purchase guarantees to cover all the important aspects of the funerary process. Be on the lookout for how these companies describe their ‘affordable’ products and services. Remember, affordable does not necessarily have to be cheap but it should worth every euro as well.
- Registered with the funeral planning authority
Look for important business documents. In the UK, some regions may vary from one to another, but be sure to check if the company is registered under the Funeral Planning Authority (FPA).
- Your money is held securely
Give careful consideration on the Terms and Conditions regarding how they collect payments for their services and products. Your money has to be secure no matter what.
How to Get the Best Deals for Prepaid Funeral Plans
Now that you are aware of the importance of securing a funeral plan for you and your loved ones, it is time to find the right fit for you.
To help you analyse the overwhelming amount of options on the internet, we have listed some tips that you can follow to compare funeral plans wisely and to make the hunt easier and faster:
- Staying on top of things
Since we are all unique, with certain specific budgets allocated for these types of investments, you must choose your own research. Depending on your circumstances, you can narrow down your search according to your budget, religion, ideal region or place of burial, and other equally important details.
- Plan ahead
Once you have compiled a list of providers and their specific funeral plans, you can now decide the specific payment arrangement that best suits your budget and lifestyle. We advise that you plan affordable funerals ahead of time and buy a funeral plan earlier in life so that you can still manage to catch up with the payment rates over time.
- Check for reviews and referrals
It is also crucial to get an understanding of the reputation of the company from where you are planning to buy your funeral package. Ask friends, co-workers, relatives, and people online for their personal experience with the company and their services.
These days, bloggers and online personalities who advertise funeral companies also offer some type of coupon or discount code, which can lessen your total payment.
You can rest easy, as this is My Estate Planning speciality. We specialise in providing funeral plans for both the over 50s and under 50s. We cater to specific individual needs and come up with unique solutions for each client.
Most importantly, My Estate Planning brand is built upon a strong relationship with its clients. Over the years, we have proven honesty, reliability, and flexibility in our products and services that cater to all types of individuals.
Whether you are a single mother in her thirties, a lawyer nearing retirement age, or just someone who wants a simple and cheap funeral, we have a product that suits both your taste and your budget.
We also boast a free and quick online quotation process. You can request a consultation using our website’s straightforward online booking system. Our representatives are more than eager to talk to you and accommodate your questions.
Conclusion
With your preliminary research and careful planning, the search for burial services and funerals should not have to be stressful or tiresome. With the options that we have today, you are now empowered to make independent choices about your future, and of those who are important to you.
Contact our representatives from My Estate Planning today to get a tailored quotation about our cooperative funeral plans that fit exactly to your and your family’s needs.
Remember: planning is not just about what we do while we are alive. What happens after matters just as much.
