We are very often asked, "what's the difference between a funeral plan and an over 50's plan?". The reason being is that many individuals take out an over 50's plan to cover the costs of their funeral, without realising it is a life insurance policy.
A funeral plan, however, is a plan that allows you to pre-arrange your funeral and pay for those services today. Now you may ask, why would I want to pre-arrange my funeral. The advantages of which are discussed below.
Make It Easier For Your Family
Losing a loved one is one of the most stressful and heartbreaking times you will go through, and often, the worst time to have to make decisions about arrangements and finances. If you have already arranged this for your family, you are instantly making that process that little bit easier.
This then means that the only arrangements your family will need to make and pay for are those personal touches, such as flowers.
Studies show that, after losing their parents, many children did not speak to one another about their wishes which in turn made funeral arrangements that much more difficult. A funeral plan would mitigate this stress.
Future Costs of Funeral Plans
Benjamin Franklin is often quoted as being one of the most prominent people to say "In this world nothing can be said to be certain, except death and taxes." which is a very relevant statement for estate planners.
We don't really like to talk about our own mortality. But death is something that we will all face and is, therefore, a cost guaranteed to be deducted from your estate.
We cannot, however, guarantee the cost of your funeral at some unknown point in the future. Funeral plans are a great way to secure such costs today's prices. It is inevitable that those costs will continue to rise in the future.
How Can You Arrange A Funeral Plan?
We offer a holistic estate planning service which includes help with arranging your funeral plan. We will provide a no-obligation consultation to go through your options.
You may wish to pay for the plan in full or you may wish to pay by monthly instalments. Both options can be discussed at your meeting.
If you wish to arrange an initial consultation, please click contact above and fill out the form.