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.
A joint funeral plan is a single funeral plan placed in two names. This means it can be used by either person for the first or second death. It’s important to remember that joint funeral plans only cover one funeral, so you’d still need to pay for the other person.
For example if you don’t like the thought of your surviving partner arranging your funeral and have money in savings your family could use for the second death, then you may want to use your joint funeral plan for the funeral services of the first person to die.
If however you feel your partner could cope but hate the thought of your children arranging and paying for a funeral, then you may want to use your joint plan for the funeral services of the second person to die.
So a joint funeral plan may be worth considering if you don’t have the funds available for two plans, especially as many companies do not charge to place a plan in joint names or if they do, refund the money when you come to buy a second funeral plan.
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.
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.