What is a monthly funeral plan?

A monthly funeral plan allows you to pay for your funeral in advance in monthly instalments, instead of paying the total cost in one go.

It’s an affordable way to cover the cost of your funeral ahead of time and protect loved ones from unexpected funeral costs in the future.

When you take out a funeral plan you can choose from several flexible payment options, including monthly payment plans to suit your budget.

Contact the specialist funeral plan team at Reassured today to compare the pay monthly funeral plans we have available.

(Believe it or not - our award-winning comparison service doesn’t cost you a penny!)

How do monthly funeral plans work?

A monthly funeral plan allows you to spread the cost of your funeral in advance.

You can choose to pay for your plan in monthly instalments over a set period, keeping the cost low and manageable.

For example, funeral plans arranged through Reassured offer three payment options, including two monthly payment options allowing you to spread the cost up to 300 months.

Usually, the maximum age limit for the payment term is 80, which means you’ll need to finish making all your payments by this age.

Your money is paid into a separate trust fund or whole of life insurance policy (depending on the provider) until it’s needed to cover your funeral.

A funeral plan can also be personalised so that your final send-off is exactly how you want it.

When the time comes, your loved ones will just need to make a phone call to the funeral plan provider who’ll then take care of everything.

Top monthly funeral plan providers

The best FPA approved monthly funeral plan providers, according to the latest Fairer Finance and Defaqto product ratings are:

  1. Co-op
  2. Age Co
  3. Choice
  4. Dignity

What are the benefits of monthly funeral plans?

Plan your funeral and personalise your send-off

A funeral plan can be personalised to ensure that your final send-off is carried out according to your wishes.

Avoid rising funeral costs

A funeral plan locks-in today’s prices, which means the cost of the services included in your plan will never go up, even if funeral prices continue to rise.

Peace of mind

Having a plan in place can provide peace of mind for you and your family knowing that there’ll be less pressure and worry for them when the time comes.

Flexible monthly payment options

You can choose to pay in one single payment or by monthly instalments over a set period.

Rising funeral costs in the UK (+128% in 16 years)[1]

The average cost of a basic funeral in the UK has risen 128% since 2004 and now stands at £4,184.

In just 5 years' time, the cost of a basic funeral may exceed £5,000. This amount doesn’t even include additional personal elements such as flowers or a memorial.

With a funeral plan, you can freeze today’s prices for your key funeral services and protect loved ones from paying higher prices in the future.

Cost of funerals infographic desktop

How much does a funeral cost in your area?

Calculate the average cost of a funeral where you live. Select from the options below.

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Average funeral cost

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Avoid rising funeral costs. Protect loved ones. Buy a funeral plan today.

This calculator uses data from the SunLife Cost of Dying Report 2021 and should only be used as a guide.

What’s covered in a plan?

The items and level of service included in a funeral plan will depend on the provider and the tier of the plan.

A basic plan will cover everything you need for a simple funeral, and a more comprehensive plan will cover additional extras such as limousines and a higher quality coffin.

Funeral plans arranged through Reassured include the following as standard:

  • A choice between burial and cremation
  • Care and preparation of the person who’s died
  • Collection of the person who’s died within 50-mile radius, 24 hours a day
  • A coffin
  • Family viewing in a private remembrance room
  • A hearse or alternative vehicle
  • Funeral personnel
  • Family support and guidance provided by a funeral director
  • Full personalisation of the plan
  • A contribution towards third-party fees or these are fully covered depending on the plan

Contact our funeral plan team today to find out exactly what’s covered in each of the funeral plans we have available.

How much does a monthly funeral plan cost?

The cost of your funeral plan will depend on the plan provider, what’s included in the plan and the payment option you choose.

For example, Co-op funeral plans (which can be arranged through Reassured), start from £3,020 or from £19.11 a month.


This is how much a Co-op funeral plan will cost for a 50-year old based on the different payment terms (up to the maximum of 300 months):

Co op insurer logo white Single payment12 monthly payments24 monthly payments60 monthly payments180 monthly payments300 monthly payments
The Simple plan£3,020£251.66 a month (total to pay £3,020)£131.72 a month (total to pay £3,159.28)£56.23 a month (total to pay £3,365.60)£25.01 a month (total to pay £4,502.40)£19.11 a month (total to pay £5,733.40)
The Bronze plan£3,470£289.16 a month (total to pay £3,470)£151.24 a month (total to pay £3,629.92)£64.45 a month (total to pay £3,867.50)£28.89 a month (total to pay £5,172)£21.96 a month (total to pay £6,589.90)
The Silver plan£3,870£322.50 a month (total to pay £3,870)£168.69 a month (total to pay £4,048.56)£71.88 a month (total to pay £4,313.10)£32.05 a month (total to pay £5,769)£24.49 a month (total to pay £7,347.90)
The Gold plan£4,170£347.50 a month (total to pay £4,170)£181.76 a month (total to pay £4,362.24)£77.45 a month (total to pay £4,647.30)£34.53 a month (total to pay £6,215.40)£26.39 a month (total to pay £7,917.90)

Pricing in this table includes a Co-op membership discount of £75 or £125

Monthly funeral plans payment options

Funeral plans arranged through Reassured offer flexible monthly payment options, as well as the option to pay in full.

You can choose from the following:

  1. Pay over 6 or 12 months fee-free
  2. Pay by monthly instalments over 24 - 300 months (plus fees)
  3. Pay in one single payment fee-free

1. Pay in monthly 6 or 12 months

Spread the cost of your funeral plan over a period of 6 or 12 months.

This option allows you to pay monthly for your funeral plan without having to pay additional fees.

2. Pay in monthly instalments 24 - 300 months

For lower monthly payments, you can choose to spread the cost of your funeral plan over a period of 24 to 300 months (2 - 25 years).

The payment term will depend on your age when you take out the plan as the plan must be paid in full by your 80th birthday.

For example, someone who’s 50 can pay monthly up to the maximum term of 300 months, whereas someone who’s 70 can pay monthly up to a maximum of 120 months.

Paying over 24 - 300 months will incur additional instalment fees, however, this funeral payment plan reduces your monthly payments to a more affordable rate.

3. Pay in one single payment

If you have sufficient savings set aside then you may wish to pay for your funeral plan in one single payment.

Paying the total cost in full won’t incur additional fees; you simply pay the fixed price, and you’ll have immediate cover.

What if you’re paying for a funeral in instalments and pass away before all instalments are paid?

Typically, if you choose to pay by monthly instalments but pass away before the plan has been paid in full, then your loved ones would need to pay the remaining balance so your funeral can be carried out as agreed in your plan.

However, some funeral plan providers will still carry out your funeral services even if you pass away before the plan has been paid in full, with no extra charge for your loved ones.

For funeral plans arranged through Reassured, if you choose to pay by monthly instalments and your plan has been in place for at least 12 months and all your payments are up to date, then you’ll receive this extra level of protection.

Not only that but if you choose to pay by instalments and pass away from an accident within the first 12 months of an instalment plan, then your funeral services will still be carried out as agreed at no extra cost.

Get your free, no-obligation funeral plan quotes through Reassured today.

Is a deposit required for pay monthly funeral plans?

Unlike some funeral plans, no deposit is required for any funeral plans arranged through Reassured.

However, you can make a voluntary deposit contribution when taking out your plan.

Paying a deposit will reduce your instalment amount each month.

How are your monthly payments protected?

If you choose a funeral plan provider that’s regulated by the Funeral Planning Authority (FPA), then you can be confident your monthly payments are protected.

The FPA is an independent body that regulates the funeral planning industry in the UK to ensure funeral plan customers will receive what’s been promised in the plan they’ve paid for.

All funeral plans arranged through Reassured are approved by the FPA.

Providing you with peace of mind that you’re in safe hands when purchasing financial protection through us.

FPA providers logo

Monthly funeral plans vs monthly over 50s plans

Over 50s plans are another popular option for people who want to make financial provisions for their funeral.

With an over 50s plan, you pay a monthly premium for the rest of your life in exchange for a guaranteed sum assured (pay out amount) of up to £25,000.

The monthly premium is calculated based on the sum assured, your age and sometimes your smoking status.

There are no medical questions and acceptance is guaranteed to UK residents aged 50 - 85.

The downside to over 50s plans is that you may not be able to secure a high enough sum assured to cover all your funeral costs, depending on your individual circumstances.

You’ll also need to pay premiums up until you pass away or until a specified age (usually 90 years old).

This means there’s a chance you could pay more into the policy than what’s eventually paid out.

Funeral planOver 50s plan
Lump sum cash pay out Cross List icon
Guarantees to cover key funeral costs List icon Cross
Locks-in today’s funeral prices List icon Cross
Guaranteed acceptance List icon List icon
(ages 50 - 85)
No medical or health questions List icon List icon
Quick & easy application List icon List icon
Choice of payment options List icon List icon
Cancellation flexibility List icon Cross
Monthly costFrom £19.11 a month through ReassuredFrom £5 a month through Reassured


To determine whether a funeral plan or over 50s policy has a monthly payment option to suit your budget, contact our award-winning team.

Compare monthly funeral plans

Reassured is an award-winning broker that can compare multiple funeral plans fee-free.

We’ll do our best to help you find a plan most suited to your unique needs and budget.

Our plans are guaranteed, which means that your essential funeral director services are covered and the price of your funeral plan will remain fixed, no matter how much prices rise.

All our funeral plans are approved by the Funeral Planning Authority (FPA), which keeps your money safe.

Get in touch with our specialist team to secure your monthly funeral plan and guarantee peace of mind.

Sources:

*£19.11 per month pricing includes a £75 discount only available to Co-operative members and is based on a 50-year-old purchasing a Co-operative Simple Funeral Plan at £3,020 over the maximum term available of 25 years (total amount repayable £5,733.40) as of 1st March 2021

[1] SunLife (2021), Cost of Dying Report, sunlife.co.uk/costofdying2021

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