Joint Funeral Plans a Cheaper Way to Prepay


Joint Funeral Plans a Cheaper Way to Prepay main image

Having recently spoken to a customer who was looking to buy a joint 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.

A joint funeral plan is simply a single funeral plan placed in two names. This means it can be used by either person for the first or second death. However, it’s important to remember that joint funeral plans only cover one funeral, so you’d still need to pay for the other person.

Another option could be to buy two funeral plans. Fixing the cost of each plan at today’s prices and avoiding funeral inflation could save money in the long run. It’s also worth keeping in mind that there are a number of payment options available, including monthly payments that are helping to make funeral plans more affordable for a much wider audience.

When might a joint funeral plan be worth considering?

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 a joint funeral plan to help with 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 a joint funeral 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 prepaid funeral 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 on the family as all the arrangements included in your plan have already been agreed. In a nutshell, its one less thing for them to think about.

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 Weigh up your options carefully

So if you are considering getting a funeral plan for you and your partner, weigh up the options carefully to see whether having individual funeral plans, to help with both your funerals, or a joint funeral plan to help with one makes most sense. At the end of the day, it all depends on your personal circumstances and what you can afford, but it’s always good to know you have a choice isn’t it?

Updated 14th July 2021 by Ashley Shepherd

Ashley is the founder and managing director at Over50choices. With over 30 years’ experience in financial services, he has held senior roles in building societies, banks and insurance companies.

Ashley Shepherd


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