A prepaid funeral plan lets you pay for your funeral at today’s price, protecting you against rising funeral costs and helping you to leave more behind for your loved ones. It may not be an easy subject to talk about, but with the cost of funerals rising each year, planning and paying for your funeral in advance can help you, or your loved ones, avoid paying more in the future.
We’re partnered with Dignity, one of the UK’s leading funeral plan providers to offer prepaid funeral plans to those aged 50 or over. With hundreds of funeral directors located across the UK who are either owned or approved by Dignity, your funeral will be in professional and caring hands. But why consider taking out a plan?
There are many reasons why you may consider taking out a prepaid funeral plan.
It helps you to save money
By paying at today’s prices, you can avoid paying future increases for funeral services.
It’s a fixed price plan
Whether you choose to pay for your plan in one lump sum, or by instalments, the plan price is fixed. This means that once it’s paid for, you will never be asked for a penny more for the services included in the plan.
Acceptance is guaranteed
Dignity’s plan is available to everyone aged 50 or over with no health restrictions or medical questions.
You can pay a lump sum or spread the cost of the plan with monthly instalments up to a period of 5 years*.
Ann Baxter, Branch Manager at our Poulton branch said, “The reason why our customers consider taking out a funeral plan varies. Some want to save money, others want to protect their loved ones from the financial and emotional stress that comes with planning a funeral. There’s also the reassurance that they’ve made their wishes known in advance. “It can be a difficult conversation to have, but it’s one that is certainly worthwhile and that many see the benefits of.”
Funeral costs have continued to rise
The average cost of a funeral in 2019 was £4,202^ and this could reach more than £6,206^^ by 2028. By taking out a plan today, you are freezing the costs of services included in Dignity’s plan and reducing financial worry.
“We all like saving money” added Ann, “Whether it’s on our energy costs or at the supermarket. That’s why considering a prepaid funeral plan can make sense financially to those in and approaching later life.”
You can find out about prepaid funeral plans and our partnership with Dignity on our funeral planning page. And if you’re considering taking out a plan, you could you save up to £200† by taking it out before Dignity’s plan prices increase on 17 December 2020.
*Alternative fixed instalment periods of up to 5 years are available provided that all payments over any instalment term longer than 12 months are completed by the 85th birthday of the eldest person named on the plan. Plans purchased over a period greater than 12 months will incur an additional fee.
^2011 – 2019: Matter Communications independent research.
^^2028: Forecast based on average annual compounded growth rate of 4.43% each year between 2011 and 2019.
†Save up to £200’ is based on the difference between the current plan prices and the new prices when they increase on 17 December 2020.