My partner has just died; how do I know if they had a funeral plan in place?


Sep 19, 2016
My partner has just died; how do I know if they had a funeral plan in place?

An article on the BBC this week highlighted an increasing number of families are checking whether their loved one had a prepaid funeral plan in place following their death. 

 

The last thing you want to be doing when you have just lost a close family member is hunting around to see if they had already made their funeral arrangements, let's face it not many people talk about their own death or funeral so how would you know?  

With over 1 million prepaid funeral plans in place and even more over 50 life insurance plans to help ease the financial burden, it's easy to say how this number will increase and with more suffering long term illness, such as dementia and cancer tracing them could be even more difficult.  

The Funeral Planning Authority who regulate funeral plans in the UK told the BBC that they are getting more requests to trace plans. 

Our advice is firstly, to talk about end of life planning with your relatives or friends and tell them what type of funeral you want and whether you have a funeral plan in place, in addition to any other financial products.  

If it's too late then you should check their bank statements for as long a period as possible and go through their paperwork looking for funeral plan or life insurance details; usually there will be a certificate or official documents confirming.  

Should you subsequently find your loved ones funeral plan details at a later date, you can ask for a refund of the plan value less of course any cancellation fees, usually between £200 to £400. 

Is a prepaid funeral plan worth it? 

Prepaid funeral plans are a financial product that allow you to purchase your funeral services in advance; the average age of someone purchasing a plan is around 68, but this is getting younger as the popularity of these plans grows. 

People buy them to save their family from the stress of arranging their funeral when the time comes and by purchasing one today you are freezing the costs as detailed in the plan, potentially saving you and your family thousands of pounds. 

SunLife's latest cost of dying report has found that the average cost of a funeral went up 5.5% last year to £3,897, that's over double since 2004 when the average cost was £1,920. The Alzheimer's Society has said that by 2021 there will be over one million people in the UK living with dementia. 

With a growing elderly population it will be even more important to ensure that finances are in order, both our own and our families.  

Talking about what you want to happen once you have gone with your family will be an easier discussion than your family not knowing what you wanted to happen and whether you had put any arrangements in place and them guessing what type of funeral wanted and searching for a funeral plan you may or may not have in place.

prepaid funeral plans


Ashley Shepherd is an Over 50s Personal Finance Expert

ashley shepherd

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