Go Compare Funeral Plans Review
GoCompare was founded in Newport in 2006 by a team of insurance experts. Working with a group of partner companies, they offer information and comparisons on a range of products including Life Insurance, Health Insurance, Buildings and Contents Insurance, Travel Insurance, Energy and Telecoms.
What Funeral Plans do GoCompare Offer?
Gocompare funeral plan quotes are offered through other comparison sites, rather than a specific Gocompare funeral plan comparison service. They also provide information on ways to pay for a funeral, funeral costs and life insurance as an alternative way of paying for a funeral service.
The Gocompare website also has useful information on writing your life insurance policy in trust to speed up any payouts and paying out of your estate. In addition, they explain about prepaid funerals although the information is limited so it would be worthwhile seeking advice from a Funeral Plan expert like Over50choices before making any decisions.
How do GoCompare Life Insurance policies compare to Funeral Plans?
A funeral plan gives you the chance to arrange and pay for your funeral service in advance, at today’s prices, therefore avoiding future funeral inflation. You get to choose the type of funeral service you want, at the price you want to pay; removing the financial and emotional worry from your family of having to arrange and pay for everything when the time comes.
With a funeral plan you know exactly how much the plan is going to cost you and importantly when the time comes, it’s just a phone call from the family and the funeral director takes care of everything.
With a whole of life insurance plan you pay a fixed amount on a monthly basis in return for a cash lump sum that is paid out when you die. This money can be used to help with funeral costs but the family will still need to make the funeral arrangements.
Depending on the type of life insurance you choose, you are covered for the cash sum usually after an initial period; although if you have had to complete a health and lifestyle questionnaire, you may be covered immediately.
As you typically have to pay your monthly premiums either for life or until you are 90, there is a chance with a life insurance policy that you may pay in more than the cash sum pays out. It all depends on how long you live.
Also if the cash sum that is paid out is fixed, i.e. it will never increase in value, inflation will reduce its value over time.
What Life Insurance Plans do Go Compare Offer?
As you would expect from one of the nations’ most well know comparison websites, GoCompare work with partners in order to compare life insurance plans for you. You can then choose the best life insurance plan for you based on your own personal requirements.
GoCompare use a company called Assured Futures to help them provide information and advice on life insurance plans so if you do wish to talk to someone, help from a Financial Conduct Authority authorised company is on hand.
What is a Guaranteed Over 50 Life Insurance Plan?
When you use the services of GoCompare to compare life insurance as a way of helping with funeral costs, there are two options available to you. If you are in good health then you may want to compare regular life insurance, as this will provide a larger cash sum. However you will be required to answer health and lifestyle questions in order to be accepted for the life policy.
Alternatively you can choose a guaranteed life insurance plan which guarantees to cover you regardless of any health issues; just so long as you live in the UK and fall within the age requirement which is usually between 50 and 80 years of age.
For more information on comparing Life Insurance, Over 50 Life Insurance and the options available to you, please click on the highlighted links.