Monthly payment funeral plans

Monthly funeral plans offer an affordable way to spread the cost of your funeral. Your low cost monthly direct debit payments are fixed so will never increase and once paid, the services in your plan are covered.

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In this guide, we explain how monthly payment funeral plans work, the costs and what to look out for when choosing your plan.

How can you pay for funerals in instalments?

You can pay for your funeral by instalments either with a:

  •  Low cost pay monthly funeral plan
  • Fixed monthly plan

Pay monthly funeral plans

All UK funeral plan providers offer monthly payment plans, either with or without a deposit. With most, you can spread your payments over 12 months at no extra cost. Any instalment option longer than 12 months will incur additional administration fees.

These fees vary by provider so its important to be clear on the total cost of your plan once fully paid and how this compares to other companies.

Monthly payments range from 1 to 25 years depending on the provider and your age. Many companies now have an age threshold (typically 80 or 85) by which time your payments must be complete.

Once your monthly payments are complete, the services in your funeral plan are covered. If you die before completing your instalments, the money you’ve paid will go towards the cost of your funeral. Any shortfall will need to be paid by your family however this is fixed at today’s prices, avoiding any inflation that may have arisen.

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How much is a funeral plan per month?

Low cost monthly payment funeral plans start from £15.23. This depends on the services included and over how many years you spread your monthly payments. Watch out for providers who also charge a deposit as this will increase the overall cost of your funeral plan.

No of Years Deposit Monthly Payment Total Amount Payable
1 year None £241.25 £2,895
5 years None £55.26 £3,316
10 years None £30.93 £3,712
15 years None £22.55 £4,061
20 years None £18.12 £4,349
25 years None £15.23 £4,569
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Fixed monthly payment funeral plans

Fixed monthly payment plans are completely different to regular low cost instalment plans. The main difference being that you’re covered for your funeral services after an initial period of one or two years*.

Your monthly payment is fixed, so will never change and based on your age and chosen plan. It is payable for life or until you’re 90th birthday, so there is a chance that you can pay more in monthly premiums than cost of your funeral service. It all depends on how long you live.

Your money is paid into a life insurance plan and you’re guaranteed to be accepted if you live in the UK and between the ages of 50 and either 75 or 80*.

* depending on the plan provider.

Other considerations

When choosing a prepaid plan you need to consider your monthly budget and the services included in the plan. Making the wrong decision could mean your family has more to pay when the time comes, which is why we recommend the Dignity monthly plan. Unlike most plans, Dignity also guarantees your cremation fees at today's prices and not just your funeral director's fees.

Compare your choice of monthly funeral plans here and then get a quote.

Budget options from £3.70 a month

If a prepaid plan is still beyond your budget you may wish to consider an over 50 life insurance plan. Premiums start from as little as £3.70 a month and you will receive a cash sum when you die that can help towards paying for a funeral – the main differences are that you are not pre-arranging your funeral but instead, providing money that will help your family and as the cash sum paid out is fixed, inflation will reduce its value over time.

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