Funeral plans
for over 60s

Essentially, there isn’t a funeral plan tailored to those over 60 (or of any age).

Funeral plans over 60s are the same as other funeral plans available.

The only difference is that if you take out a plan over 60 and choose to spread the cost, then your payment term is likely to be shorter than the payment term for someone under 60.

The payment term is the specified period of time you’ll have to complete all your monthly payments and have the plan paid in full.

Funeral plans arranged through Reassured come with flexible payment options allowing someone over 60 to spread the cost up to 24 years.

You may have thought about your family’s current financial situation and how they may cope with the unexpected cost of your funeral.

Even if you have grown children that are financially independent, would they need to take out a loan or use a credit card to cover the funeral costs?

This could be detrimental, particularly if they have their own family to take care of.

And, even if you have sufficient savings in place when you pass away your bank account will become part of your estate and funds won’t be accessible until probate has passed.

Probate can take from 6-9 months, sometimes longer, which means your loved ones still have to cover the expense in the meantime.

Your savings are also vulnerable to rising funeral costs, unlike a funeral plan which can lock-in today’s prices.

According to a recent report by Sunlife, 53% of people who have recently arranged a funeral felt pressure to get things right, in memory of their loved one.

There is sometimes pressure from other family members to organise the funeral in a certain way and/or pressure to spend more money on the funeral than necessary.

Making all the decisions for your own funeral could eliminate these issues for your family and give you more control over how much is spent on your funeral.

You’ll be able to choose whether it’s a religious or non-religious service, whether it will be a cremation or burial, if a minister or celebrant should hold the service and even what mourners should wear.

The details can be discussed with your funeral director and they’ll take care of everything when the time comes - allowing your family to focus on saying their goodbyes.

There are a range of funeral plans available that offer different levels of service at different price points, (but include all the essential funeral services as above).

This means you can choose a plan that best suits your needs and budget.

Funeral plans for those over 60 can be arranged through Reassured start from as little as £21.46 a month or £3,095 in full.

All funeral plans have a fixed price, however, if you choose to spread the cost for more than 12 months, then instalment charges will apply.

Take advantage of our award-winning broker service to help you compare the features and prices of plans available.

If you choose to pay by instalments over 2 – 24 years and pass away after the first 12 monthly payments but before your plan has been paid in full, then you’d be eligible for the plan provider promise.

This means that your loved ones won’t have to pay the remaining balance of the plan if you pass away unexpectedly before completing your payments.

The funeral director will carry out the services as agreed, with nothing more for your loved ones to pay towards the plan.

Make the most of this benefit by arranging a funeral plan through Reassured.

As someone over 60, it’s likely your children have flown the nest and you may have finished paying the mortgage.

If this is the case, then life insurance may seem unnecessary as all your financial commitments are settled.

However, life insurance could also be used to cover the expense of your funeral and other associated costs.

For example, the cost of hiring a professional to administer the estate after you’re gone.

Life insurance isn’t considered as part of your estate, which means that your loved ones could receive a tax-free lump sum as an inheritance to spend how they wish.

As someone over 60, you may consider the following types of life insurance:

• Term-based life insurance
• Whole of life insurance
• Over 50 plan

An over 50s plan is similar to a funeral plan as you don’t need to provide any medical information to secure cover.

One of the key differences between funeral plans for over 60s and life insurance over 60 is the long-term cost.

With a funeral plan, there is certainty of how much you’ll pay for your funeral, however, with life insurance you could be paying premiums for an indefinite amount of time.

Nonetheless, life insurance could be a good alternative to a funeral plan if you’re in good health and wish to leave behind enough to tie up loose ends.