When the time comes: Your guide to prepaid funeral plans


Mar 23, 2017
what is a funeral plan

Only a shocking 16% of Brits aged 45 and above have a prepaid funeral plan in place. And those without a funeral plan don’t realise how affordable a plan could be and how easy it is to set one up.

With the average cost of a traditional burial at £4,136 and cremation at £3,214, it’s more important than ever to make sure you have a plan in place. At Over50Choices we’re experts at providing a personal service that will take care of your final wishes as specified in the plan. So we thought we’d go over a few things about prepaid funeral plans to help you make an informed decision.

What is a prepaid funeral plan?

Whilst the thought of arranging your funeral in advance may not have crossed your mind before, it is probably one of the kindest things you can do for your family. After all, you will be saving them from the emotional and financial stress of contacting a funeral director when the time comes, instead they will need to make just one phone call.

A prepaid funeral plan will allow you to pre-pay for your funeral and freeze the costs at today's prices; with interest rates on your savings around 1.5% and funeral inflation at 6% it's not difficult to see why so many people are now choosing a plan as an alternative to leaving the money in their savings accounts.

Depending on which plan you choose, a prepaid funeral plan can include:

  • Special guarantees capped at today’s prices
  • Funeral director services; including professional advice & support
  • Cremation costs
  • Minister services
  • Up to two limousines for friends and family
  • Family viewing
  • Fully lined coffin available 
  • Funeral procession for your home or funeral directors
  • Thank-you cards

Are prepaid funeral plans safe?

You should always check that  the funeral plan provider is a member and regulated by the Funeral Planning Authority (FPA). Your money should be invested in a trust fund that is independently managed and audited, making it a secure option for you and your family.

When looking for a prepaid funeral plan it’s always best to check whether the provider is freezing funeral director's costs, cremation and minister prices, or just the funeral director's costs.

Advantages of prepaid funeral plans

There are so many advantages of prepaid funeral plans - it’s always a good idea to plan the important things in advance. Here’s a few benefits of prepaid funeral plans:

  • You’re protected by increasing funeral costs – the funeral plan provider freezes your funeral directors costs at today’s prices and some will also freeze your cremation and ministers services
  • Plan your funeral exactly the way you want it
  • Save loved ones from financial and emotional burden
  • Flexible payment options
  • Affordable - plans from £25.14 per month
  • Generous burial allowance of £1,200

How do I pay for a prepaid funeral plan?

At Over50Choices we have a number of prepaid funeral plans to suit all sorts of budgets. From the very affordable ‘Limited Plan’ to the big family ‘Diamond Plan,’ we offer a plan to suit your exact needs. Our prepaid funeral plan can be paid in a single lump sum or it can be split over 12 months, 5 years, 10 years and 15 years so you can choose the most convenient plan for you depending on how far in the future you’d like to plan.

How do I choose the best funeral plan for myself?

Everyone is different when it comes to their final wishes, so it all depends on a combination of your personal tastes, any family traditions, circumstances, finances and so on. Here are a few questions to ask yourself when it comes to choosing your prepaid funeral plan:

Budget: If you have the money available, we recommend opting for the lump sum payment or the 12-monthly instalments payment option when choosing your funeral plan.

Timing: As with most things, the sooner the better! Your funeral plan is guaranteed to be accepted - so you may as well get it sorted earlier on (age 50 to 80!).

Personal tastes: Whether you’d prefer a ceremony with all the trimmings or a more modest funeral, we can offer a number of plans to suit your personal tastes and requirements.

Safety first: Always make sure your funeral plan provider is a fully fledged member of the Funeral Planning Authority (FPA). Choosing an FPA registered provider means your money is safeguarded

Compare: The best thing to do when shopping around for the perfect prepaid funeral plan is compare a range of funeral plan providers.

Joint or single: As well as single prepaid funeral plans, it’s possible to apply for a joint funeral plan, which covers the costs when the first person passes away. Or you could buy two plans at today’s prices.

What happens when the time comes?

It’s just a matter of a simple phone call.

Once your loved ones  or funeral director the funeral plan will be put into action. Your family will receive ongoing advice from the funeral director, so they’ll never be alone in arranging your send off. This means your friends and family can focus on reflecting on the good times they spent with you, rather than rushing around and organising things last minute.

To apply for your prepaid funeral plan simply click here or call 0800 133 7656

Alternatively, you can email us at info@over50choices.co.uk

Compare prepaid funeral plans

Save your family from the emotional stress of arranging your funeral.


Ashley Shepherd is an Over 50s Personal Finance Expert

ashley shepherd

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