Questions You Need to Ask Before You Avail of a Funeral Plan

It’s better to be fully prepared for the costs of your funeral instead of letting your loved ones pick up the bill and make arrangements on your behalf. Nowadays, you can find plenty of companies that offer funeral policies. It’s only a matter of knowing which company offers the right plan for your needs and current financial capability. As you read on, you will learn the different questions you need to ask before finally availing a funeral plan.

How does a funeral plan work?

Availing a funeral plan is the simplest and most effective way to pay for future funeral needs. You have the option to pay in installments or lump sum to your chosen plan provider. Your money will then be invested into a trust fund. Once the time comes, the company will provide the services agreed upon when you purchased the plan.

What does it cover?

No two funeral plans are created alike. That’s why you need to ask the provider the services and other packages included in the plan you plan to purchase. Typically, you can’t find a funeral plan that covers everything. In most cases, funeral plans exclude the cost of flowers, catering and burial plot. Always clarify the inclusive packages with your chosen plan provider to avoid inconveniences in the future.

How safe is my money?

Basic plans start at around £3000, while five-star packages can cost at least £5,000. That’s a tremendous amount of money for individuals with averaged income. Hence, it’s perfectly normal to wonder if your chosen plan provider can really safeguard your money.

It’s crucial that you choose a duly accredited funeral plan provider. Accreditation organisations like the Funeral Plan Authority and Financial Conduct Authority impose rules and regulations that protect the rights and interests of clients. For additional protection, make sure that you use your credit card when you pay the plan in full. This will ensure that you’re protected most especially when something goes wrong with your selected funeral director.

Additional questions

You should inquire about other things like – what happens if the funeral plan holder dies abroad? What will the plan provider do if there’s an outstanding balance when the policyholder dies? Don’t hesitate to ask how much you need to pay per month when you choose to settle the bill in installments. You should have a clear overview of the fees involved too. Ask if you have to pay cancellation fees if certain circumstances change in the future.

When you select a plan provider, make sure you choose one that’s transparent. They should amply explain the eligibilities, terms and conditions, payment methods and other pertinent details before you avail a plan. If they don’t provide the information needed, you can always research on your own.

Once you purchase the plan, you will receive a confirmation letter that contains the details of your funeral coverage. Keep it in a safe place. Let your loved ones know what you paid for and explain necessary information to help them claim your coverage in the future.