How much does an Open Prepaid Funeral cost per month?
This prepay funeral company works with independent funeral directors across the UK offering a financially more capable outlook (they believe) in the way funeral plans are operated.
Many of these plan providers offer linked Disbursement growth to RPI and CPI – indices that reflect inflationary costs of living. With Open however these measures are also applied to Funeral Director costs, this helps pay more in the event of a shortfall.
The plans are also slightly different in that you can choose your own funeral director and opt out of paying Disbursements and leave this area to be managed by your Next of Kin.
However as these are costs that need paying in the event of death, it’s wise to include them but at least you have the option to decide. While not in their best interests, they also offer a direct funeral option which excludes an actual funeral service.
Direct Cremation Plan:
One off – £1,895 or 12 months at £141.67 interest free.
24 months at £74.51 = £1983.24.
36 months at £50.87 = £2026.32.
60 months at £32.00 = £2115.00.
120 months at £17.95 = £2349.00.
Disbursements of £840. Basic coffin. Third party fees and staff for conveying deceased to crematorium. Ashes may be scattered as requested or returned to Next of Kin. Doesn’t include any funeral service.
One off – £2,090 or 12 months at £157.92 interest free.
24 months at £83.05 = £2188.20.
36 months at £56.71 = £2236.56.
60 months at £35.67 = £2335.20.
120 months at £20.01 = £2596.20.
Simple Plus package includes £1100 disbursements, not used in above calculations.
Basic coffin. Pallbearers. Hearse to funeral location. Local collection of deceased to funeral home during office hours. Care and preparation of deceased. Paperwork. Disbursement contributions of £1100 – optional within Simple package. Chapel of Rest facilities. Funeral Director’s professional fees. Funeral service formation. Help placing obituary notice and writing of but not cost of publication. Memorial advice.
One off – £3,745 or 12 months at £295.83 interest free.
24 months at £155.58 = £3928.92.
36 months at £106.24 = £4019.64.
60 months at £66.83 = £4204.80.
120 months at £37.48 = £4692.60.
Upgrade to genuine wood veneered coffin. Bereavement advice. Legal guidance and advice on floral tributes and charities. Funeral processional departs from a local address to service / place of burial and then returns to a local address. Conductor and pallbearers. Use of one limousine.
One off – £4,295 or 12 months at £341.67 interest free.
24 months at £179.69 = £4508.56.
36 months at £122.70 = £4612.20.
60 months at £77.18 = £4825.80.
120 months at £43.29 = £5389.80.
Adds: Upgrade to superior genuine wood veneered coffin. Collates tributes cards or list of flowers sent and by whom. Condolence book. A second limousine.
Prices may vary upon postcode and whether you allow provider to choose funeral home or you elect one yourself. Amounts contain choice to add Disbursements. Trial purchase noted £1100 added to cost for disbursements.
Payments will be less if not included however but will need paying by someone at time of death. Initial deposit is £195 with any plan. Equivalent APR for reference 4.9%. Cremation and burial costs worked out to be the same during trial purchases. No cancellation fee.
Trust Held: Yes, The Open Trust Fund with independent board of trustees aside of Open Prepaid Funerals Limited. The fund uses growth to maintain specific aspects that are unique to the plan’s offerings. As detailed above.