Joint funeral plans

A joint funeral plan is a single funeral plan placed in two names, perhaps of a married couple, that covers the cost of the funeral when one partner passes away.

It allows for two people to pay for one plan and ensure that one of their funerals is paid for in advance.

Typically, people choose for their joint plan to cover the cost of the first funeral, to protect the surviving partner. However, it’s possible for the plan to cover the second funeral instead.

Having a joint plan in place does mean that the funeral expenses for one partner would not be covered, and they may need to take out a new funeral plan at a later date.

Read on to learn more about joint funeral plans and if this may be the right option for you...

As mentioned, a joint funeral plan can have the purpose of protecting your surviving partner from having to arrange your funeral or pay the bill.

In this case, you’d take out a joint funeral plan that covers the funeral of the partner that passes away first.

However, if you have children or other close relatives then that leaves the second funeral to be considered, as it may become their burden to cover the cost.

Usually, funds would be recovered from your estate, however, funds may not be released until your estate has been through probate, which can take 6 - 9 months.

This is a long time before your loved ones would have access to the funds they need.

And most funeral providers will require payment upfront, particularly for third-party services, requiring your loved ones to find the funds in the interim.

Therefore, a joint funeral plan may not be right for you if you’re concerned for loved ones who would be out of pocket to cover your or your partner’s funeral costs.

A funeral plan for both the first and second funeral is a smart investment to ensure there is immediate cover on both occasions.

Get in touch with Reassured to arrange a funeral plan that fully guarantees all your essential funeral services.

As you may be aware, taking out a funeral plan allows you to beat rising funeral costs.

This is because the amount you pay for your plan today remains fixed, no matter how much prices rise.

To remain competitive, funeral plan providers offer this benefit due to ever-increasing funeral costs in the UK.

Since records began in 2004, funeral costs have risen +130% and show no sign of slowing down.^[1]

The average cost of a basic funeral is now £4,417.

Having two individual funeral plans in place will not only protect each partner but also ensure that your children or loved ones won’t have to pay inflated funeral costs in the future.

The earlier you take out an individual funeral plan, the more money you can potentially save your loved ones in the future.

A joint funeral plan won’t offer that level of financial protection.

Freeze your funeral costs by arranging your funeral plans through Reassured.

Whilst a joint funeral plan is cheaper, there are several payment options available to keep the cost down if you decide on two funeral plans.

By spreading the cost into manageable monthly payments can make it more affordable to have more than one funeral plan.

Get in touch with Reassured today and we’ll help you find funeral plans within your budget.

Unfortunately, Co-op doesn’t offer joint funeral plans, however, Reassured can help you arrange individual Co-op funeral plans.

Unlike other funeral plans, all Co-op plans are fully guaranteed.

This means that as well as all your essential funeral costs, third-party fees are also covered, and fixed at today’s rate.

Third-party fees include:

• Minister fees
• Doctor fees
• Cremation or burial fees
  

Third-party fees usually add up to on average £1,193 for a cremation and £2,288 for a burial (on top of funeral director’s fees).

Many funeral plan providers will offer only a contribution towards these costs, or may only guarantee to cover cremation fees as burial fees vary so much across the UK.

However, Co-op funeral plans arranged through Reassured, guarantee to cover essential third-party fees and frozen at today’s prices^†.

Offering you peace of mind that your funeral could take place in 10 or 30 years time, and there won’t be anything else for your loved ones to pay towards the services included in your plan.

For your no-obligation, Co-op funeral plans quote, get in touch with our team at Reassured.