Funeral Plan Review Part 6 – Age UK

Aug 20, 2015
age co funeral plans

As we get asked about Age UK funeral plans quite a bit, I thought it was important to include them as part of our review, especially as the Age UK Funeral Plan is actually provided by one of the companies we work with, Dignity. 

01/05/18 AgeUK have now renamed thier funeral plans to Age Co funeral plans.

Who are Age UK and why do they offer funeral plans? 

Age UK is the UK’s largest charity dedicated to the Over 60s, comprising of a network of 170 local organisations throughout England, in addition to Age Cymru, Age NI, Age Scotland and Age International. 

They provide information and advice on a wide range of topics concerned with later life as well as products provided through their relationships with a range of companies, such as Dignity, the UKs largest funeral plan provider. 

How do Age UK Funeral plans work? 

When you buy an Age UK Funeral Plan you are paying for your funeral costs at today’s prices; avoiding the impact of inflation. Your money is held in the independent Trust for Age UK Funeral Plans, managed by M&G Investment Management; part of the Prudential Group.    

What funeral plans do they provide? 

The Age UK plan, like the majority of funeral plan providers offers 3 levels of service. A simple plan called ‘Ivy’; a standard plan that includes one limousine called ‘Holly’ and a superior plan with two limousines called ‘Rowan’. 

What are the payment options? 

You can choose to pay in full or spread your payments over 12 months at no extra cost. Instalment options up to 10 years are available but as always you will incur additional administration fees. What do they cover? It’s no surprise to learn that the Age UK funeral plan offers a similar service to the Dignity funeral Plan, guaranteeing to cover the Funeral Director’s services. These vary depending on the level of service you choose but in general include help and advice with arrangements and documentation; care of the deceased; use of the chapel of rest (this is included on all levels of service which is different to many other funeral plans), the funeral director’s services on the day; a coffin, hearse and limousine where relevant. 

The Plan also includes a guarantee for cremation fees and minister’s charges which ensures there will be nothing more to pay for these services, no matter when the funeral plan is used. 

In July 2015, in preparation for a forthcoming change in legislation which means you will no longer need a second doctor’s certificate for cremation funerals; Dignity removed these fees from its plans which in turn reduced the cost of its plans by £160. As you would expect, this change and price reduction is also reflected in the Age UK funeral plans. 

If burial is your preferred option, the plan also includes an allowance of £1,220 for burial costs and ministers fees which increases each year in line with RPI. 

How much do Age UK funeral plans cost?

If paying in one go, you should expect to pay the following for the Age UK range of funeral plans:

Age UK Ivy Funeral Plan- £3,395

Age UK Holly Funeral Plan - £3,775

Age UK Rowan Funeral Plan - £4,035  

As mentioned, you don’t incur additional charges for spreading your payments over 12 months so the above prices are just divided equally by 12.

Instalment options are available up to 10 years with no deposit but you will incur additional administration fees. 

As with the Dignity funeral plan, the Age UK version also has a minimum age of 50 but no upper age threshold. 

Why choose Age UK? 

With the Age UK brand you are buying into a long standing institution and all the reassurance that goes hand in hand with the Age UK brand, however in reality you are actually buying into Dignity, the plan provider. Reasons why you may opt for the Age UK funeral plan are as follows:

  • In addition to the funeral director’s charges, cremation fees and minister’s fees are also fully guaranteed
  • Transportation of the deceased within a 50 mile radius
  • Dignity, the company that provide the plans for Age UK are the largest funeral plan provider in the UK
  • Age UK customers get preferential rates which can be up to £100 cheaper than Dignity’s discount prices 

To find out more about the Age UK funeral plans, please follow the link.  

Ashley Shepherd is an Over 50s Personal Finance Expert

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