What are the payment options?
Set funeral plans come with 3 methods of payment; up front with a single payment; instalments over 12, 24, 36 and 60 months (anything over 12 months incurs an additional instalment charge so make sure you are happy with the total amount payable before signing on the dotted line) or by fixed monthly payments.
With the latter, your money is paid into a whole of life insurance plan with monthly premiums payable for life or until you are 90. You have to pay into the plan for 2 years before your funeral costs are covered but if you were to die during this time, the money you have paid plus an additional 20% will be fully refunded to either your chosen funeral director or your estate.
What do they cover?
Co-op funeral plans guarantee to include all funeral directors and third party costs which include the hearse, coffin, service, transportation and care of the deceased, bereavement support for the family, burial or cremation fees and doctor’s medical fees and the minister’s fees.Limousines and a higher spec coffin are included in the silver and gold plans.
Unlike other funeral plan providers, you have no flexibility to change your Co-op funeral plans at a later date so make sure you are happy with your chosen services if taking this option.
How much do Co-operative Funeral care prepaid funeral plans cost?
For single payment or 12 monthly instalments, Co-operative funeral plan prices are as follows: (updated 1/7/15)
• The Co-operative Funeralcare Bronze Funeral Plan- £3,365
• The Co-operative Funeralcare Silver Funeral Plan - £3,850
• The Co-operative Funeralcare Gold Funeral Plan - £4,195
Fixed monthly payments depend on your age and the level of cover you require starting from £25.80 (based on a 50 year old purchasing a bronze plan).Of the 4 plan providers we are reviewing, Co-op funeral plans are the second most expensive however unlike many competitors who pay an allowance towards third party costs, the Co-op actually cover these additional fees, providing a guarantee that everything in the plan is fully covered with nothing more to pay and they are currently offering a £100 discount to those customers who buy online.
Why choose The Co-operative Funeralcare?
If you’re still pondering over which company to choose, the following points may help:
• You choose from their team of Co-op funeral directors
• Prices include third party costs with no more to pay
• You get a £100 discount for buying a funeral plan online
If you are interested in finding out more about funeral plans and to see how the Coop compares to other leading plans please click here. Alternatively for more information on Co-op funeralcare, go to www.co-operativefuneralcare.co.uk