Liberty Funeral Plans Review

History & Origin

With inception in 1995 having both a funeral plan company and a protected, audited trust fund named the Funeral Planning Trust, the latter specifically set up for the provision of people's safely held monies.

Promise

They have promised to and met the needs of over 80,000 pre paid funerals, 24,000 of which have already been carried out.

Funeral Director Network

Their network is definitely not one of the largest, with over 250 funeral directors working in partnership with them to provide pre paid funeral plans at a local level.

Membership

They are members of the Funeral Planning Authority (FPA) which sees their practices audited regularly and are also joined to the NAPFP and NAFD, an external funeral plan association and a nationwide funeral directors association.

Limitations of Liberty Funeral Plans

  • Disbursements are limited to £1200
  • Family may have to pay extra at time of funeral due to a contributory amount and not whole stated.
  • If you die while paying payments, there is no assured early cut off. Only part payment from the balance minus stated admin fees (we could not find the stated admin fees) .

How much are Liberty funeral plans?

 

There is an £850 difference between the top package and the most basic. Which is probably one of the lowest gaps for gaining extras associated with the funeral. 

 

Flower collection and conveying is built in and Chapel of Rest is extra. The main difference between Bronze and Gold is an extra limousine and a superior coffin. One off payments come in at £3,350 to £4,200.

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Questions on Liberty funeral plans

What Funeral Plans Do Liberty Prepaid Funerals Offer?

 

Bronze: One off – £3,350

 

Includes: A plain coffin. Advice and guidance, arrangements and paperwork. 30 mile radius intake of body for hygienic preparation. Care of the deceased. Traditional hearse to meet family at location of service. Receiving and transporting flowers. A £1,200 disbursement towards Crematorium and related fees such as burial, gravedigger charges and funeral service.

 

Silver: One off – £3,800

 

Adds: A plain coffin with wood veneer effect. Funeral Director’s Chapel of Rest. Traditional hearse and one limousine from home address to place of worship.

 

Gold: One off – £4,200

Adds: A superior coffin of wood-effect veneer. A second limousine.

 

Notes: The coverage is for both cremation and burial however the contribution may not cover all costs related to either. 

 

Disbursements pay towards the celebrant fees etc and family may need to pay extra at the time.

 

Trust Held: Yes, in a separate entity named Funeral Planning Trust.

 

It has private trustees with no connection to the Funeral Plan company and is audited annually. They claim should all monies be required at once then the money is readily available to pay each and every funeral. The trust invests in low risk funds across Fixed Income stocks and corporate bonds.

What’s Guaranteed?

When a person takes out a funeral plan they may expect every condition and need to be met, even if they choose a bespoke funeral plan. That however is not always the case. Some do, some will not. It’s essential to compare disbursements and coverage.

 

Guaranteed:

  • There are no questions about health, all can apply.
  • There are no age limits, but may involve lump sum in later years.
  • Inflation proof and Funeral Director’s costs frozen at modern prices.

What’s Not Guaranteed?

  • The whole of the funeral costs are not covered, only a disbursement of £1,200. Meaning there may be some monies to pay at the time of funeral.

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

 

It’s a possibility. 

 

Yet all of Liberty’s funeral plans involve the same £1200 contribution to disbursements. With other offerings some packages are without. 

 

It is likely they feel they cannot wholly guarantee that the trust fund will perform to do more than the amount they mention, otherwise they would suggest £1500 or pay for it all. 

 

Yes your family or next of kin may need to meet the difference at the time.

What If I Want Something Different?

Some plans do include additional bespoke additions upon request, as do Liberty with a formal ‘My Wishes’ document.


Though this is as it states a wish list, something for the next of kin and Funeral Director to read at the time and where costs will be discussed. 


No monies will be taken in advance for these unless they can be absolutely guaranteed one presumes.

How Does A Liberty Funeral Plan Work?

 

It is one of the easiest funeral plans to access due to no age limits, no health questions and the packages are quite easy to understand, from basic to superior coffin with none, one or two limousines. 

 

There isn’t really much to contemplate.

 

You would either pay a lump sum, start to pay monthly payments for an agreed duration and receive paperwork with regards future funeral arrangements. 

 

The documents will state exactly what sum of money Liberty will provide a local Funeral Director upon your death and also stipulate what that Funeral company will provide for your family, mentioning any personal wishes which may come at additional expense on the day should they be granted by the next of kin.

Will my money be safe?

Liberty are members of the FPA, an organisation which has oversight and can report on each funeral plan provider with yearly audits. 

 

With money also held in a separate Trust Fund with trustees that have no interest in the financial outcome of the associated company. In so far as the law goes and how trusts are managed with the FCA in mind, yes your funds should be safe.

Any Cancellation Fees?

If you cancel within 28 days of first starting a pre payment funeral plan you will receive any payments plus any deposit forthwith. However any later and you receive payments made minus any admin and cancellation fees – amounts which are not easily found on their website at the time of writing.

Will my plan stay the same if I move house?

 

With a national network of 250 or more funeral directors it would be possible to move your plan to one that is more local but you need to inform Liberty when you do move home so as to keep paperwork current.

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

If you should die before the plan is completely paid it is likely that the all premiums paid minus an admin fee will be returned to your next of kin to pay an amount towards the funeral costs. Unfortunately there is no mention that whether that be five or ten years that this would also secure the profitable aspect of the plan too.

Our Opinion on Liberty Funeral Plans

  • Liberty are registered members of the Funeral Planning Authority, which offers some level of confidence as the FPA have strict rules.

  • Contribution of £1,200 is in line with other providers

  • If you cancel within their 28 day cancellation policy there will be no charges, after this there are admin costs which we were not able to find.

Liberty Funeral Plan Customer Reviews

Reviews from Feefo website

 

 

 

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