Funeral Guide Ltd
75-77 Buccleuch St
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Our helpful comparison table below may give you just what you need to make a decision, for more detailed information, further enquiries may be needed as everyone’s circumstances can differ.
Some funeral plan services require a large upfront payment (some starting at £1,200) which rules out those without the means or on lower incomes to be able to afford it.
Thankfully, pay monthly plans were introduced partly to address this issue.
You may be looking for the most cost-effective solution for a friend or loved one/relative/family member, which is good because it’s much better to be prepared for the future, so you are ready when it happens.
One big plus for a pay monthly funeral plan is that the home or estate can be reduced in size as soon as it’s finalised, meaning it is possible to qualify sooner for government assistance if the need arises, for a care home.
Of course the point in a funeral plan is that it will pay out upon death.
|Life Insurance||Funeral Plans|
|Depending on the policy (read the small print) your life policy may pay out a lump sum upon the insured's death||Protection from the increase in funeral costs|
|Probably best if you are under 50 years' old (may not work out worthwhile if you're over 50)||Very practical for most people & situations|
|Competitive, Low monthly premiums - affordable for most people||Both Quick & Easy to arrange|
|Flexible payments based on your budget|
|Avoid any hidden financial surprises your family may get when they arrange your funeral.|
Many families are struggling to make ends meet and unfortunately when a death occurs in the family; dealing with the grief can be extremely difficult and stressful.
Having to pay for a funeral without having the funds to hand can be an added source of pressure and stress. Knowing that it’s covered means it’s one less thing for you (and loved ones) to worry about, as well as being able to afford exactly the kind of funeral you want. Planning ahead will mean less chance of financial stress for your family to worry about.
Death happens to us all and although it’s a morbid subject to deal with, alas it has to be dealt with. The best way by far is tackling it head on, as opposed to waiting until the event happens, and not being prepared financially for it – potentially leaving family members to have to find funds themselves.
A government scheme does exist, for those who are eligible for it, that can offer financial support, however it is not guaranteed.
Statistics from the tax year 2014/2015 report that just over half (58%) of those who requested government help with funeral costs actually received the funds.*
On average, each individual case received £1,375 towards the cost of funerals. This would clearly not be sufficient for a basic funeral. However, it would mean that less is required to cover the remaining expenses.
*Source Annual Report by the Secretary of State for Work and Pensions on the Social Fund 2014/2015.