Weighing up the pros and cons of prepaid funeral plans is a simple approach
to help you decide if a funeral plan is right for you and your family.
Here are the main prepaid funeral plans pros and cons;
PROs of prepaid funeral plans | CONs of prepaid funeral plans |
---|---|
Avoid rising funeral costs | Ties up funds |
Plan your funeral in advance | Can only be used to pay for a funeral |
Discuss end of life wishes | Can't be taken overseas |
Protect loved ones financially | Burial plot not included (if applicable) |
Protect life insurance or savings | May not cover third-party costs |
Guaranteed acceptance for UK residents | Currently not regulated by the FCA |
Flexible payment options | |
Suit your own budget | |
Approved by the Funeral Planning Authority (FPA) |
Below we go into each of these funeral plans pros and cons in greater detail...