Jump to:
If you prefer to make your own funeral arrangements, then it could be worth having a prepaid funeral plan. Having a plan in place can benefit your family, both emotionally and financially. But prepaid funeral plans do have their drawbacks, so it’s important to consider the pros and cons.
Prepaid funeral plans can be worth it if you have the funds available and want to pay in advance for your funeral service. There are several advantages in having one in place, but the three main funeral plan benefits are:
There are some disadvantages to funeral plans however which are listed in our pros and cons below.
Select your age range below
Enter your post code
What is your name?
In order for us to find you the best deal possible, we need to compare all our options with you
By clicking ‘Enquire Now’ you agree to Golden Leaves Privacy Policy and you agree to be contacted by email, telephone or SMS
Thank You for enquiring about a Funeral Plan with Golden Leaves, you can visit our site by clicking here
Prepaid funeral plans allow you to make your funeral arrangements in advance, paying todays prices. Your money is held securely in a trust fund or insurance policy until required to pay for the services of a local funeral director, who will take care of everything as detailed in your plan when the time comes.
A prepaid funeral plan offers three main benefits:
Which may be why an increasing number of people think a funeral plan is a good idea.
Funeral plans are regulated by the Financial Conduct Authority (FCA) who are responsible for the regulation of financial services in the UK. The FCA are there to protect consumers, protect financial markets and to promote effective competition in the interests of consumers.
Whether or not you should buy a funeral plan depends on your personal circumstances and budget. If you want to arrange and pay for everything yourself, then buying a plan could be worth it. Families can struggle paying for a funeral, so making arrangements in advance could help.
If you are thinking of getting a funeral plan, it is worth considering all the pros and cons, comparing funeral plan prices and services, making sure your chosen company is registered with the FPA and understanding what is and isn’t included in the plan.
There is no law as such that states who pays for a funeral when you die but if plans are not already in place to cover the cost, it is usually down to the family or perhaps the executor of the estate.
If there are savings available, then the bank will usually allow payment to be made on receipt of the funeral director’s invoice. If no funds are accessible, then the person arranging the funeral will have to make the payment initially and then claim any money back from the estate once it has been settled.
If you have just started looking at funeral plans and want to know more about the advantages and disadvantages, take a look out our funeral plan guide for more details.
If you are ready to look at what plan providers have to offer, go to compare funeral plans.
Compare funeral plans
Did you find this information helpful?
Our aim is to provide you with clear and accurate information to help you research your chosen financial products and services. The material on this site is for general information only and does not constitute any form of advice or recommendation.
If a link has an * by it, it means it is an affiliated link to an insurance company or broker that may result in a payment to the site. Should you use the equity release calculator, speak to an Age Partnership adviser and take out a plan out using their services, we receive a commission, however this will not affect the price you pay.
Also, from time to time you may see advertisements from third party companies who pay us a fee to advertise their services on our site.
None of the above arrangements constitute advice or recommendations, as other products and companies are available. You should always obtain independent, professional advice for your own situation.
The information provided on this site is accurate at the date of publication, occasionally however, things will change before we have had the opportunity to update them, so please do check. Always do your own research and take independent advice.
We do not investigate the solvency of any company mentioned on our website and are not responsible for the content on websites we link to.
Over50choices is an independent company and regulated by the FCA (No.594280) for insurance products only and a member of the Equity Release Council.