Joint Funeral Plans – a Cheaper Way to Prepay

May 26, 2014
Joint Funeral Plans – a Cheaper Way to Prepay

Having recently spoken to a customer who was looking to buy a prepaid funeral plan for himself and his wife, I realised that many people aren’t aware of their options when it comes to getting joint funeral plans for couples.

One option is to buy two funeral plans; not cheap I know but given soaring funeral costs and the worrying trend with funeral inflation, it will save money in the long run. It’s also worth keeping in mind that there are a number of payment options available to you these days making funeral plans more affordable to a much wider audience; so if you decide to buy two funeral plans, it doesn’t necessarily have to break the bank.

If you are looking at buying a prepaid funeral plan for you and your other half, it is certainly worth looking into joint funeral plans; an option that most plan providers offer but never really advertise.  

Effectively you buy one funeral plan that is in both of your names. When the first person dies, their funeral service is paid for using the prepaid funeral plan. Basically the funeral plan will always cover the funeral of the first person to die.

Of course this does mean that the survivor so to speak would need to think about how their funeral service would be funded? Will there be sufficient money in the estate? Are there savings that can be accessed by family when the time comes? Would property need to be sold? Do also take into account that funeral costs will inevitably have risen by then so any increases would need to be accounted for.

If funds are available, joint funeral plans could be worth considering as they are free to arrange with a number of funeral plan providers. Some companies do charge a nominal fee so as ever it is worth shopping around and comparing funeral plans before making your final decision.

Putting money to one side for a minute, there is also the emotional value a funeral plan can offer. Losing a relative is upsetting enough without having to go through the difficult and often upsetting process of arranging a funeral. A prepaid funeral plan can ease that burden from the family as all arrangements have already been made. In a nutshell, its one less thing for them to think about.


joint funeral plan

So if you are considering getting a funeral plan for you and your significant other, weigh up the options to see if it is worth forking out for the two of you with the hope of easing the burden from your family and saving money, or choosing a joint funeral plan that will pay for just one funeral service. At the end of the day, it all depends on your personal circumstances but it’s always good to know you have a choice isn’t it. 

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