Iberian Funeral Plans Review

Highlights

This is one of the most exceptional pre paid funeral plans you can buy as it delivers the final product in several countries of your choosing. While it specifically mentions plans for Spain, Portugal and France and pricing is mainly stated for Andalucia and the Costa Del Sol region, it can cover all countries in the EU. Therefore prices may be a start from indicator.

The Difference

This differs from the majority of pre paid funeral planning companies in the UK as they tend not to cater for repatriation. Yet at Iberian they do. There are a great many British and other European citizens who go to retire in Southern European countries and Islands, not only is it cheaper but the climate can be more accommodating for older people with aching limbs.

Filling A Gap

While we and our parents may live abroad we don't necessarily expect every member of our family and friends to board a plane to attend our funeral. In which case a repatriation funeral plan makes more sense. However it does come at an additional cost.

Table of Contents

Limitations of Iberian Funeral Plans

Iberian are not currently members of the Financial Planning Authority who oversee the activities of trust funds.
To add, they are obliged by the Spanish authorities to ensure like the UK that all funds are protected for exact purposes.
Therefore funds are paid into and remain in a specialist Funeral Directors Account at BBVA Bank.
If you are UK based you should ask a UK solicitor to check all terms are applicable as a UK citizen, although not necessary, it may be wise to do so.
Both Spanish soil plans are for cremation only, burial is not mentioned.
Costs and package guarantees are Spanish soil only. Funeral disbursements in other EU countries become contributions only once funeral is outside of Spanish territory.
Don't fall behind on payments they indicate they could charge 8% interest

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How much are Iberian funeral plans?

Firstly being a service in the EU in the Eurozone pricing is in Euros. While that remains so you should expect to pay in euros and pay whichever currency exchanges rates are current and they do go up and down marginally.

The basic package which is for Spanish soil starts at €2,700 with the Plus at €3,000 and a Repatriation Plan coming in at minimum €4,600.

Bear in mind that cost of flight may be a little more. This can also depend on costs for collection from a UK airport by a Funeral Director in the UK if outside the typical 25 mile radius.

Upon initial reading of the website text it includes a contribution towards flight for repatriation in the Repatriation Plan. This could indicate that should the costs at the time rise above the stated amount prepared for, that the next of kin could be liable and should be ready to pay the difference.

Questions on Iberian funeral plans

What Funeral Plans Do Iberian Prepaid Funerals Offer?

Basic: One off €2,700

Includes:

Necessary staffing.
24/7 bereavement line.
Legal documentation, Doctor’s certificates and cremation fees.
Conveyance of deceased to Funeral Director – no distance limit is mentioned.
A promise of 24 to 72 hours for cremation delivery.
A hearse.
Inclusion of coffin, robe and fittings and urn.

Basic Plus Plan: One off – €3,000

Adds:

A Church service.
Mortuary expenses for three days.

Repatriation Plan: One off – €4,600

Includes:

Does not include all previously mentioned items.
Instead Conveyance of deceased to Spanish Funeral Director for, Full mortuary services with hygienic care and preparation.
24/7 bereavement line.

All local legal documentation and death certificate plus all legal paperwork for repatriation to chosen UK / EU destination. A €800 contribution towards coffin flight cost.

Notes:

The coffin that is to be repatriated should see be a Zinc lined hermetically sealed coffin to adhere to international flight rules with regards repatriation of the deceased.

The stated costs for Repatriation of coffin by aeroplane only include a contribution. You should enquire with airlines the current cost now to compare inflation of service over ten and twenty years.

Outside of this funeral plan as a UK citizen or one of another EU country it is worth checking your own personal health insurance policies and or current travel insurance.

It may be that at the time a separate health policy covers your flight back home. For instance if you have a property in Spain that you use in the Summer holidays and travel insurance covers you for that period.

They have English, Spanish and Swedish speaking staff on the Bereavement line.

Trust Held:

Because this is Spanish law, it is not possible to say with absolute assurance without legal guidance that trust fund law with the specialist Funeral Directors Account at BBVA Bank, is as safe and secure as it may be by the British FPA.

Consider legal scrutiny from a UK solicitor. On the face of it, local laws apply but similar depth of annual scrutiny of both fund activity from the likes of the Financial Conduct Authority (FCA) and of trustees by the FPA are unclear.

What’s Guaranteed?

Pre paid funeral plans are not always catch all services as much as they might be when paying and arranging at the time of death. Most plans acknowledge the cost of funeral services now and take into account inflationary rates but exclude any land or flight costs as might be unknown.

Guaranteed

Cremation
A traditional Church service is included in the Basic Plus plan
The provision of all plan details per package
They assure that instalments will be free of interest
No medical questions or credit enquiries
No requests for additional top ups inside of listed provisions
Inflation proofed
Dual Certification for both Spain and UK or one other EU country.

What’s Not Guaranteed?

The aim of the Repatriation Funeral Plan is to get the deceased home to their own country. The plan will make an exact contribution to such flight costs but at the same time admits this amount may fall short. No one knows the cost to transport a coffin anywhere in the EU in twenty years time.
There is little mention of the distance a body will be conveyed from a hospital, mortuary, scene of death to a funeral director. Perhaps there’s no limit?
Plan price excludes purchase of the Burial Plot
Whole costs for disbursements are for Spain only, outside of Spain whole becomes a contribution.

Does that mean I (or my family) will have to pay money on top?

With the Basic plans there appears not to be any reason to think there might be other fees due. It may be reasonable to enquire.

With regards a flight yes while it is fantastic they appear to be one of first to lock in repatriation with a funeral plan, not unlike disbursements in respect of burial costs it is perhaps too much of an unknown. Therefore the amount is a contribution and at the time of booking because airfares cannot be bought in advance, on the day costs will need to apply which may leave a family paying a top up.

What If I Want Something Different?

There is an indication about personalised plans on the front of the website, which leads us to believe that there may be a possibly to budget other costs, or it could be a Wish List scenario where next of Kin can adapt with additional cost at the time of the funeral.

How Does An Iberian Prepaid Funeral Plan Work?

Much like other funeral plans a person would pay in advance either in full or over a certain payment term and premiums each month until the total has been fully paid. One would receive a certificate clarifying such cover with all details and you are effectively covered with that policy from that point onwards.

Guarantees ensure that element of a funeral already paid for, will be provided at the point of death whether in five, ten of twenty years. It is helpful if you notify a next of kin that the plan exists. The Repatriation aspect is a little bit more complicated but the bereavement line should assist fully. Though it may need organising with a receiving UK funeral director in mind, as they will need to collect the body to provide the funeral.

Will my money be safe?

We are not fully up to scratch with Spanish law, in relation to UK and EU law. It would be best to consult a solicitor. Within the confines of the UK FCA and FPA and other financial authorities can monitor trustees, trust funds and investments. Iberian indicate Spanish authorities are equally rigorous.

Any Cancellation fees?

It is possible to cancel the plan in writing within 14 days of it officially beginning, all payments to that date will be returned – without interest. Past 14 days and up to and after full payment, 20% will be retained for admin purposes and the remainder of payments made returned.

Will my plan stay the same if I move house?

This is a much more simple change in the UK where plan providers have networks in one country. Should you move elsewhere in Spain or in an EU country the nominated or placed Funeral Director may need to change. The policy holder is fully responsible for any additional fees that are incurred.

What happens to my plan if I die before paying the full amount?

The wording may be confusing due to direct translation or perhaps not. It is stated, as with other plans that if a plan holders dies before all instalments are made then two outcomes can occur.

The balance between payments made and needed will be calculated and next of Kin asked for the difference so full plan can proceed.
Should you fail to produce the required balance, you may be charged mortuary fees during the delay so…
Without application of 1 or 1a Iberian could present to the next of kin all payments to date and make a contribution to the final minus an administration fee.

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