Vernon Rush Funerals: 01643-862615    email:                         Back to home page - click here

Funeral Plans

There are many providers of products known as Funeral Plans. We cannot provide actual financial advice on these products (for legal reasons; as they are regulated by the Financial Conduct Authority) , but as Funeral Directors, we are able to share our experience of them with you.

For many people, the setting up of arrangements upon their death is a considerate and meaningful thing to do. This allows their wishes to be carried out without the family or representatives needing to second guess. A pre-payment plan may be a desired option in many circumstances, but there can be pitfalls.

Basically, Funeral Plans are an insurance policy, hence the requirement for them to be regulated by the FCA. There are costs involved which invariably mean that the amount paid-in, means the amount paid-out may be less, especially and sometimes significantly so, if death occurs soon after the plan is set up (up to 12 months, sometimes more). There are many occasions, however, when it can be appropriate to set-up a pre-payment plan.

It would be remiss though, not to share our experience of circumstances where a deceased had entered into a Funeral Plan, and died soon after. The amount paid by the Funeral Plan provider was insufficient to cover the cost of the funeral (about half of the amount paid-in), resulting in the family having to come up with the difference. The remaining estate of the deceased may be able to cover the shortfall, but this is experienced to be something which cannot be relied upon. Frequently, the family may have to cover the difference.

It is also a fact that plans set up early in someones life may not provide full cover of the funeral expenses for when they actually pass away. As we know, the financial markets are subject to erratic fluctuations, over decades sometimes.This may severely impact on the eventual amount paid-out by the plan provider.

The foregoing experiences are to provide some balance to the arguement for and against funeral plans.

For many though, the fact that all, most or some of the cost is catered for, is sufficient for them to feel that the burden on loved ones is relieved somewhat.

We have relationships with leading Funeral Plan providers, and will be pleased to introduce clients in order to fulfil their wishes. Please contact us so that we can make the necessary arrangements.
Vernon Rush Funerals: 01643-862615    email:                         Back to home page - click here