Co-op funeral plans review, (from £19.81* a month)

Co-op funeral plan key features

Whilst Co-op funeral plans come in tiers, there are a number of services included with all their options.

These include:

• 24-hour transfer to a suitable place of resting within a 50-mile radius
• Care of the deceased including private chapel and visitation for loved ones (embalming not included)
• Hearse and personnel included for the funeral
• Funeral advice
• Bereavement assistance.

What is a Co-op funeral plan?

Offered by one of the largest brands in the UK, the Co-Operative (better know as Co-op) funeral plan allows you to pay for your funeral in advance.

This allows you to secure your funeral at today’s price and avoid further cost rises.

All Co-op funeral plans are fully guaranteed.

This means that upon your passing the full cost of your funeral will be covered and your family won’t be expected to pay another penny.

It’ll also allow you to have more control over your funeral by making arrangements before your passing, ensuring all of your parting wishes are included.

At Reassured we can help you arrange a Co-op funeral plan to cover the full cost of your funeral at a price within your budget.

Read our blog post on the pros and cons of a prepaid funeral plan.

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Rising funeral costs in the UK

The average cost of a funeral has risen by +130% over the past 16 years and it shows no signs of slowing down^[1].

Without the necessary precautions in place, this cost is passed onto your loved ones.

In 2019, 69% of families had to pay for some or all of their relative’s funeral with the average shortfall being £1,981.

In order to cover this cost, many have to take out a credit card or loan, borrow money or even sell personal belongings.

A prepaid funeral plan can:

1. Offer peace of mind that future funeral arrangements have been made
2. Avoid the rising costs of funerals by locking in today’s prices
3. Provide the opportunity to arrange your service in advance, ensuring your final wishes are fulfilled
4. Alleviate the financial strain on your family.

Third-party funeral fees

Funeral plans are often criticised for not covering third-party costs, such as minister fees, cremation fees and doctors’ fees.

Many funeral plans will only cover the cost of the funeral directors’ fees, requiring your loved ones to cover the remaining expenses.

However, Co-op funeral plans are fully guaranteed, meaning that all third-party costs are included.

No other funeral plan provider, including Golden Charter, guarantees this level of coverage as standard.

This allows your family to focus on grieving rather than financial concerns at an already difficult time.

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Co-op funeral plan tiers

The Co-op offers 4 funeral plans, each with different features.

Essentially, the key differences between these plans are:

• A choice/restriction of funeral date/time
• Flexibility of route to the service
• Coffin type
• Inclusion of transportation for close family.

Simple

• Restricted times and days
• Directly taken to crematorium or place of burial from funeral home only
• Simple coffin.

Bronze

• Choice of time and day
• Flexibility to choose the route to service
• Wood effect coffin, such as Maple.

Silver

• Choice of time and day
• Flexibility to choose the route to service
• Wood effect coffin, such as Cherry or Rosewood
• One limousine.

Gold

• Choice of time and day
• Flexibility to choose the route to service
• Wood veneer coffin, such as Traditional or Light Oak
• Two limousines.

All of the above plans are available for both cremation or burial and include all third-party fees.

Due to the varying cost of burial plots in the UK, the cost of buying a grave isn’t included within the burial plan.

This can be discussed with your local funeral director who’ll be able to advise you once your plan is in place.

The humanist plan

Co-op provide a ‘Woodland’ plan which is available in the aforementioned tiers but adopts a humanist approach at no extra cost.

This is a non-religious ceremony focused on celebrating your life, whilst acknowledging the great sadness of saying goodbye.

If you feel you’d like to adopt this approach, this can be discussed either at the point of arranging your funeral plan or once a plan is in place.

The memorial masonry plan

Want a particular headstone? Know how you want to be commemorated?

It’s possible to put these arrangements in place before you pass away.

It’s also possible to pre-pay the cost of your masonry headstone but this is an additional cost to that of your funeral plan.

This can be arranged via your funeral director and upon purchase of your plan, we can provide details of how to enquire about this service.

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Co-op funeral plan costs

The cost of a Co-op funeral plan varies depending on the type of plan you choose and your payment method.

Typically, there are three options available:

• One-off payment
• 6/12 interest-free monthly payments
• Low instalment plan over the course of 2-25 years.

Choosing to pay via an instalment plan will incur interest and will only be available to those of a certain age as all instalments must be paid by your 80^th birthday.

Unlike many pre-paid funeral plans, Co-op will still deliver all of the services detailed within your plan if you die after 12 months of the plan being instated, but before all of the instalments have been paid.

Although, this is subject to all of the payments being up to date.

Co-op funeral plans offer a wide range of tiers, meaning there’s a plan to suit any budget.

At Reassured, we can compare these plans on your behalf and find you the best option to suit your needs at a price you can afford.

Purchasing a plan on behalf of someone else

Co-op funeral plans are available to purchase on behalf of yourself, family member or friend.

In the instance of purchasing a plan on behalf of someone else, the person named within the plan will receive all documentation and all decisions regarding funeral arrangements will remain theirs.

However, to obtain an instalment plan in this instance, all payments must be made by the 80^th birthday of the person paying for the plan.

It’s imperative that the named individual is aware of the plan being set up in their name and the person paying for the plan is 18 or over.

Checking if someone has a funeral plan

If a family member has recently passed away and you’re unsure if they had a funeral plan, it’s best to do a few checks before planning the funeral. 

You can find out if they had a funeral plan by;

• Contacting Co-op funeralcare – Pop into the local funeral home or give them a call. They’ll be able to find out if there is a funeral plan using just the name, date of birth and address
• Funeral Planning Authority – Trace a funeral plan service available, simply fill in the online form.

Co-op funeral directors across the UK

Upon purchasing a Co-op funeral plan, you’ll be able to register with a Co-op funeral home of your choosing and begin to make future arrangements.

Once you’ve selected your preferred Co-op funeral home, they’ll work with you to ensure all of your wishes are carried out and all plans are in place.

Additionally, due to such a wide network of funeral homes, it’s possible to switch to a more conveniently located funeral home if you were to move home or change location, at no extra cost.

Co-op funeral plans for over 50s

Upon reaching the age of 50, it may be that a funeral plan is more suitable than life insurance.

Co-op funeral plans are ideal for anyone over 50 as they allow you to lock in today’s rates and ensure the cost of your funeral is covered.

Acceptance is guaranteed for anyone of any age, but if you have just passed 50 it’s likely your payment options will be more flexible than if you were older.

Best price guarantee

When choosing to pay for a Co-op funeral plan with a one-off payment, it’s possible to benefit from their best price guarantee.

Simply provide us with a like for like quote on your preferred funeral plan and we’ll match it on behalf of the Co-op.

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Funeral plan vs life insurance

Often it’s asked what’s more suitable, a prepaid funeral plan or a life insurance policy.

The answer comes down to what it is you’re looking to protect.

Typically, it would be suggested beneficial to have both. For example, a funeral plan to cover the funeral director costs and lock in today’s price, alongside life insurance to cover all third-party fees.

But with a Co-op funeral plan, all third-party fees are already accounted for.

As a result, if you’re only looking to cover the cost of your funeral, it’s likely a Co-op funeral plan would suffice.

However, if you’re looking to protect your family from other costs, such as your mortgage or outstanding debt, life insurance may be more appropriate.

A funeral plan can only be used to cover the cost of your funeral, whereas life insurance can be used for anything your loved ones deem fit, including an inheritance.

Age may also be a deciding factor in this decision, with a funeral plan being a fixed price regardless of age.

In contrast, the older you are, the more expensive life insurance premiums generally become. Therefore, your budget may dictate which type of cover is available.

Upon a certain age, you may struggle to even get accepted for life insurance as most term-based policies only accept applicants up to a specific age.

In this instance, an over 50s plan with no medical questions may be more suitable. However, these are only available for those aged between 50-85 years.

A Co-op member? Save on your funeral plan

Co-op members can save at least £100 or 5%, whichever is greater, on any Co-op funeral plan.

If you’re not yet a member and would like to benefit from this discount, you need to sign up on the Co-op website.

It takes a few minutes to enter in your details and you’re required to pay a £1 membership fee.

Once you have your membership number you’ll be able to take advantage of the discount when planning your funeral through us.

Compare funeral quotes, (get the best plan for you)

At Reassured we provide funeral plans at the same cost as Co-op themselves, but our free brokerage service offers added benefits.

Our dedicated customer service team work to ensure you get the best plan to suit your individual needs.

Ensuring your chosen funeral plan contains all the elements needed to fulfil your dying wishes.

We complete the application for you, making sure all of the information is completed accurately and anything you don’t understand is clearly explained.

This ensures you’re confident in your decision making.

So, contact Reassured today to make arrangements for your funeral and ensure your future peace of mind.

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*Equated to a £165 discount only available to Co-op members. Based on a 50 year old purchasing a Simple Funeral Plan at £3,295 with 25 years payment term

Sources

[1] SunLife (2020), Cost of Dying Report, sunlife.co.uk/costofdying2020

https://www.co-operativefuneralcare.co.uk/pre-paid-funeral-plans/

Our providers

At Reassured, we will provide you with quotes from Co-op funeral care, as well as any information required regarding the best funeral plans.

This allows you to make a fully informed decision.

All of the funeral plans we provide are fully regulated by the Funeral Planning Authority (FPA) ensuring you and your money are protected.