5 benefits of taking out a secure funeral plan
You may have seen them discussed by Money Saving Expert, Martin Lewis. You may have a close friend who has purchased one.
Today, over 1.6 million people in the UK have a funeral plan in place. But what is it about funeral plans that makes them so popular? What exactly is a funeral plan? And are they safe?
A funeral plan is your ultimate farewell gift to your family, a way to ensure your final wishes are honoured. It ensures the costs are covered and the details for your funeral are sorted in advance, relieving your loved ones of any financial or organisational burden when the time comes. It’s you taking care of your family one final time.
And yes, they are safe. Since 29th July 2022, all funeral plans are regulated by the UK’s financial regulatory body, the Financial Conduct Authority (FCA) which exists to enhance consumer protection. By being regulated, funeral plan providers are legally obliged to undergo ‘fitness to operate’ checks and guarantee a funeral if payment terms are met.
1. A secure purchase
Not only are funeral plan providers now regulated, but there is also added protection from the Financial Services Compensation Scheme (FSCS) and the Financial Ombudsman Service (FOS).
While the regulatory body monitors plan providers’ activities and practices on a consistent basis, the FSCS protects plan holders’ money should a funeral plan company fail. The FOS is also there to provide an independent assessment of a customer’s complaint about a company, should the customer not be satisfied with the outcome that they have received.
Three layers of protection to protect you, your money and your interests.
2. Remove the financial burden for your family
You buying a funeral plan at today’s prices, protects your family from paying whatever the price of a funeral may be in the future, and with costs having risen by 45%¹ since 2010, that could be a big saving.
You see, a funeral plan guarantees everything in the plan at today’s prices and you don’t have to worry about inflation or rising costs.
Plus with Distinct Cremations, one of the UK’s leading direct cremation providers, they ensure that what you pay today is great value and affordable. With fully guaranteed plans starting from £1,699, they make it as easy as possible for you to pay either with a lump sum, 12 equal monthly payments, or even with an insurance-based plan paid for over 5 or 10 years if you wish.
3. Clarify your funeral wishes
It’s amazing how often a family is left wondering what type of funeral they should arrange or what their loved one would have wanted. By purchasing a funeral plan, you can clarify exactly what you want to happen at your funeral and your funeral will be carried out according to your wishes.
4. Save your loved one’s stress
Most people have never arranged a funeral before and often don’t know what they have to do. By planning ahead, you are taking some of that strain away from your family. They will simply have to call the plan provider and then everything will be taken care of.
5. Save based on where you live
Funeral prices differ depending on where you are in the country. For example, if you wanted a cremation in Greater London, the average cost is £3,200, whereas in Scotland the average cost is £2,435².
However, by taking out a funeral plan with a national provider like Distinct Cremations, the cost of a funeral plan is the same no matter where you live in the mainland UK.
Prices start from £1,699 for a Direct Cremation plan, with acceptance guaranteed and no medical questions. You could also choose a Private Cremation plan, which includes a 20 minute service for 20 people for just £2,299.
At Distinct Cremations, the focus is on making the arrangements as easy and stress-free for each and every family they come into contact with.
Distinct Cremations are rated 5 stars on Feefo by their customers and their direct cremation funeral plan is rated 5 stars by The Times Money Mentor.
As another added layer of security, Distinct Cremations are also owned by the UK’s largest independent cremation services provider, the Westerleigh Group, who conduct 60,000 cremation services every year and perform the cremation services for Distinct Cremations plan holders.
Visit distinctcremations.co.uk today for more information or call their team anytime on FREEPHONE 0808 304 8759.
Distinct Cremations’ is a trading style of Distinct Funeral Plans Limited (DPFL) and Distinct Cremations Limited (DCL). DFPL is authorised and regulated by the Financial Conduct Authority. Financial Services Register No. 965289. DCL provides ‘at need’ funeral and cremation services and is not authorised or regulated by the Financial Conduct Authority.
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¹Increase based on cost of basic funeral in 2010 (£2,713) and cost of a basic funeral in 2022 (£3,953) (SunLife, Cost of Dying Report 2023)
² Costs according to independent research carried out by Legal & General in 2022 (Legal and General, Funeral Costs in the UK)
