Funerals are something that most people do not really want to think about. Of course, this is natural. However, we have to accept that at some stage we are all going to die, so it is very important to plan our funeral.
A very convenient way of doing this is to buy a funeral plan. Doing so allows you to think about your funeral in advance. It forces you to ask and answer the questions that you would normally avoid. In addition, it gives you the chance to easy for your funeral in advance, and spread the cost.
The vast majority of the time buying a funeral plan is a good move. However, there are a few things that you need to bear in mind when buying one. Here we look at the main things you need to consider.
Buying the right type of funeral plan
The first step to determining which funeral plan is right for you is to understand the different types that available.
The main types are:
Prepaid funeral plans
With this kind of funeral plan, you pay for your funeral in advance. What is covered by the plan should be laid out clearly within the policy and you should understand this before you purchase. Every policy is different so it is very important to read the small print carefully.
Insurance based plans
Another increasingly popular form of funeral plans are insurance-based plans. With this kind of plan, you are normally buying a whole life policy, but the insurance package also covers the cost of your funeral. Again, how much you pay and how much coverage you get varies from company to company.
Sometimes these plans are called over fifties plans or no health check plans.
What is typically covered?
As we already mentioned exactly what is covered varies from company to company. There is a huge variation between different policies and the different firms.
What is covered is also affected by the country in which you live and the funeral customs in that country. For this reason, it is hard for this site to cover the subject in much detail.
However, over the coming months we do plan to write some more in-depth articles about funeral plan coverage in all of the largest English speaking countries, so watch this space.
The vast majority of funeral plans normally provide some level of cover for the following expenses:
The cost of picking up the deceased from the place of death
The cost of preparing the body for burial or cremation
The cost of the coffin or casket
The cost of transporting the deceased to the place of burial or cremation
Some plans also provide cover for the transfer of relatives to the place of burial or cremation. Often, these plans also cover the cost of keeping the body in the funeral home for a short period before the funeral can take place.
A funeral plan is basically a form of insurance policy As with any policy take your time to shop around and find the best deal.