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What’s a Funeral Plan?

A funeral plan is an upfront payment you make to cover the costs of a funeral beforehand. Funeral plans vary in terms of cost and exactly what is included in the plan. An average cost will vary among providers, and you should compare funeral plans before settling on one.

We recommend that as a minimum you select cheap funeral plans or the best value plans that provide the basics and flexibility for customisation. However, if you want a lot of features then you are better looking for the best funeral plan that you can afford.

What’s Included?

  • Care for the deceased body
  • A coffin, hearse, and funeral directors.
  • Transportation of the body to a funeral home
  • A minister for the ceremony
  • Taking care for the body
  • An organised visit for the body in the chapel of rest.

What May Vary from Plan to Plan?

  • Doctor’s and Minister’s fees
  • Embalming the body
  • Limousines for mourners
  • Fees for the crematorium
  • Funeral notices
  • Burial plot and burial fees
  • A headstone
  • Catering costs
  • Flowers

What’s the cost?

You may decide to make long-term monthly payments or a lump sum payment.

An average cost will be between £3000 for cheaper plans and £5000 for comprehensive plans. Most plans offer the biggest savings when you make the payment a few years before you think you need it and make the payment upfront.

Monthly payments are more manageable but attract more interest which means they cost more. Also, make payments when  providers offer discounts. Compare providers and select one with a guaranteed price protection against inflation to avoid incurring extra fees in the future.

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A word of warning

Prepaid plans aren’t currently regulated but the Financial Conduct Authority has confirmed it plans to legislate to bring funeral plans within its remit.

This coincides with a Competition and Markets Authority (CMA) investigation into the funeral sector as a whole, after years of spiralling above-inflation costs.

If you’re buying a plan, make sure the provider is registered with the Funeral Planning Authority. It provides non-compulsory regulation where providers that sign up have to adhere to certain rules and a code of practice.