There are many benefits to having a funeral plan in place, should the worst happen.
1. Avoid rising funeral costs
Many people take out a prepaid funeral plan to avoid spiralling funeral costs.
Since 2004, funeral costs have increased by 130% and are predicted to increase a further 20% by 2024.
By paying in advance, you can freeze the cost of today’s funeral.
This is because funeral plan providers will guarantee to carry out the services agreed in your plan, no matter how much funeral prices increase.
So your funeral could take place in 5 or even 35 years time and there won’t be anything extra to pay.
2. Protect loved ones financially
In a recent funeral costs survey, 1 in 8 families reported that finding the funds to pay for a loved ones’ funeral has caused them notable financial troubles.
It’s not surprising when a basic funeral costs on average £4,417 in the UK.
This is an inaccessible sum of money for many of us, particularly without the opportunity to make adequate provisions.
Many families have to borrow funds, use savings or a credit card to foot the large bill.
Taking out a funeral plan today will prevent this financial uncertainty for loved ones.
And also ensures they won’t spend more than what’s necessary on your funeral.
3. Protect loved ones emotionally
A prepaid funeral plan provides you with the flexibility to arrange your own funeral, relieving this emotional burden from loved ones.
Planning a funeral can be stressful, but this weight can be lifted with the support of your nominated funeral director.
They’ll guide you through the entire process and answer any questions you have.
You’ll have the opportunity to communicate your end of life wishes and iron out any details for the day.
Your loved ones may not have the gift of time or the emotional energy to be able to plan your funeral, but with a funeral plan in place, they’ll have all the support they need when the time comes.