• The One less thing for them to worry about Plans

  • Funeral planning explained

    It might not be easy to think about planning your funeral, but it is important. Once you’ve made your plans, you can get back to living life to the full, knowing that there’s one less thing for your family to worry about. If you’d like to make plans for your funeral but don't know where to start, read on.

    Why funeral planning is important

    By planning for your funeral in advance you can help protect your loved ones from rising funeral costs. The average cost of a funeral in the UK has risen by a staggering 87% between 2004 and 2014 and now stands at £3,590.* So, covering funeral costs can be a heavy, and often unexpected, financial burden on loved ones at an already difficult time. And, by making plans in advance you can also save your family from the worry of trying to guess what you might have wanted.

    Ways to help pay for your funeral

    However you decide to help pay for funeral costs, the most important thing is to do something to prepare for your funeral. However small, it will all help when the time comes.

    Funeral plans

    A pre-paid funeral plan lets you pay towards your funeral today, so you don’t have to worry about how much funeral costs may rise in the future. With this type of plan, you can pay for, and arrange, your funeral at the same time. Making some decisions in advance, such as whether you want to be buried or cremated, can really ease the pressure on loved ones at an emotional time. You can pay for your funeral in a couple of ways:  in one go with a single payment or monthly with life insurance. Funeral plans cover most of the elements provided by a funeral director, with an allowance towards other costs. Other personal touches such as flowers or catering etc will need to be funded separately. View our funeral plans.

    Over 50 life insurance

    If you want to help with funeral costs but are on a budget, an over 50 life insurance plan could help. It offers a simple and straightforward way to help pay towards funeral costs. The policy pays out a fixed cash sum on your death after the first two years, which can be put towards funeral expenses. You can also choose a monthly premium that suits your budget, which you will need to pay for life because if you stop paying, unfortunately your plan will end and you won’t get anything back. And because premiums are payable for life, depending on how long you live, you could pay in more than the cash sum paid out. Inflation will also reduce the value of the cash sum.

    Depending on the premium you choose, the cash sum paid on death may not be enough to cover the full cost of a funeral (especially if funeral costs rise in the future). However, leaving something to help loved ones with funeral costs is still a big help. View our over 50 life insurance plan.

     
  • Funeral plans product summary icon

    Funeral Plans

    A funeral plan can help you to plan and pay for your funeral in advance, giving your loved ones less to worry about. You can choose to pay in one go with a single payment or, if you prefer, monthly with life insurance. People often choose this type of plan because it allows them to make both the financial provision and some of the practical arrangements with the same plan.

    • A funeral plan is quick and easy to arrange
    • You can choose from three different funeral plans 
    • There are two different ways to pay - find an option to suit your budget
    • Help protect your loved ones from rising funeral prices - the average UK funeral cost is now £3,590*
  • Guaranteed over 50 plan product summary icon

    Over 50 Life Insurance

    The Guaranteed Over 50 Plan is the UKs No 1 choice^ for over 50 life insurance. The Plan provides a fixed cash sum for loved ones on death after you’ve had the Plan for at least two years. This option is popular amongst people who want to help with funeral costs, but that need a monthly payment to suit their budget.

    • If you're aged 50-85 we guarantee to accept you, with no medical
    • Premiums start from just £4 a month, the lowest premium in the market**
    • Life-long cover as long as you pay your premiums for life 
    • You can add our FREE funeral benefit option to your Plan and receive a £250 contribution towards your funeral expenses
  • *Source: Average of quotes for standard cremation and burial arrangements from a sample of funeral directors. YouGov, July 2014.

    ^Most popular whole of life guaranteed acceptance plan bought directly. ABI statistics - 12 months up to 31st March 2014.

    **£4 is the lowest monthly premium on the market for this type of product as at 2nd September 2014.

  • Frequently asked questions

    • Why do I need to plan for my funeral?

      Planning for your funeral means that you can choose the funeral you want as well as help to protect your loved ones from the burden of funeral costs which are now on average £3,456.*And, by making some key decisions for your funeral in advance, you can save your loved ones some stress and worry later.

    • What ways are there to pay for my funeral?

      There are three main ways to pay for your funeral. The best one for you depends on your individual circumstances and your budget.

      • Pre-paid funeral plan – where you can pay for the funeral in advance, as well as plan the type of funeral you would like. There are different ways to pay for this type of plan – from a single payment to monthly with life insurance.
      • Over 50 life insurance – where you can leave a cash sum for your loved ones to use towards your funeral, when you die. You can choose premiums to suit your budget, which you must pay throughout your life because if you stop your Plan would end and you wouldn’t get anything back. And because premiums are payable for life, you could pay in more than the cash sum paid out.
      • Savings - you could set up a savings account to cover your funeral costs. Your savings will need to keep up with rising funeral costs, which are currently rising faster than inflation. The average cost of a funeral, not including any of the extras such as flowers and catering, has risen by 80% since 2004 and is now £3,456.* You should also consider whether you may need to dip into your savings for emergencies or for other expenses such as paying for care.

    • Do I really need a funeral plan? My family can just sell my house or belongings when I die.

      If you choose this option, there are a few things you should consider. If you live with a partner or other family members who survive you, selling your home may not be a practical option to fund your funeral. Also, it takes time to sell a property or possessions – especially if a Grant of Probate is needed from the court before they can be sold. You should consider whether your family would be able to fund your funeral before receiving money from your estate, without getting into debt.

    • Won’t the government pay for my funeral, if I don’t leave any money?

      If you don’t plan for funeral costs, your loved ones may need some financial help. There is a government scheme that can provide help with funding but it is not guaranteed and not everyone is eligible. During the tax year 2012/13 only 54% of people who applied received funding. The average payout was £1,225 – not enough to cover even basic funeral costs. (Source Annual Report by the Secretary of State for Work and Pensions on the Social Fund 2012/2013).