Funeral plans
for over 50s

A typical funeral plan for over 50s allows you to arrange and pay for your key funeral services in advance.

It includes a combination of services for either a cremation or burial funeral and you can choose a plan based on the type of send-off you would like and your budget.

You pay either in monthly instalments or in one single payment, and the money is kept in a life insurance policy or trust fund until it’s needed for your funeral.

How much a funeral plan costs will depend on the plan provider and the level of service included.

The table below compares funeral plan prices for some leading UK providers and the plans they offer.

The monthly prices are based on a 50 year old spreading the cost of a plan over the maximum payment term and paying the minimum deposit required by the provider.

Payment terms and deposit amounts vary between providers.

The information in this table was taken from the separate providers websites and is accurate as of 03/03/2022
As mentioned, Reassured cannot help arrange the type of funeral plans listed in this table

The SunLife Guaranteed Funeral Plan or an over 50s plan, arranged through Reassured, are two different ways to safeguard your loved ones from unexpected funeral costs.

One of the key differences between the two options is that an over 50s plan provides a cash pay out when you pass away (which is capped at £20,000), whereas the SunLife Guaranteed Funeral Plan is designed to cover the cost of your funeral.

Here’s a quick comparison of their key features:

An over 50s plan could provide a guaranteed cash pay out of up to £20,000, depending on your age and budget.

This could provide a sufficient level of protection if you wish to help contribute towards your funeral costs as well as leave behind an inheritance or clear outstanding debt.

Although, this type of policy doesn’t guarantee to cover the cost of your funeral as you may not be able to secure a high enough sum assured (pay out amount), especially if you live in an area with high funeral fees.

In which case, you may prefer to take out a SunLife Guaranteed Funeral Plan which guarantees to cover your chosen funeral services after you’ve paid 24 monthly payments.

An over 50s plan guarantees acceptance to all UK residents aged 50 - 85 years old.

People at the lower end of this age bracket should be able to obtain the highest level of cover at the best price.

Like with a funeral plan, no medical information is required to obtain cover making it a desirable option for those with a poor medical history who’d struggle to secure other types of life insurance.

An over 50s plan guarantees protection for the whole of life.

This means premium payments will continue until you pass away, or until you reach a certain age (such as your 90th birthday) depending on the insurer.

The sum assured remains the same, however, the total amount you pay into the policy is unknown.

Therefore, the longer you live, the more likely it is that you could pay more into the policy than what’s paid out.

The best over 50 funeral plan won’t be the same for everyone, as there are many different options available.

Joint funeral plans are usually taken out by married couples who want to ensure that if one partner passes away, the surviving partner doesn’t have to arrange or pay for the funeral.

It provides cover for two people at the same time but will only pay out once. Once the plan has been redeemed, the surviving partner may need to arrange a new plan.

Joint funeral cover for over 50s isn’t available through Reassured. This is because the funeral cover we arrange is tailored to your individual needs and budget.