Navigating Funeral Plans: Key Answers to Frequently Asked Questions

Planning for the end of life can be a difficult and emotional task, and things like making a will or taking out a funeral plan often get put off.

Below is a list of frequently asked questions about funeral plans. Understanding these common concerns can assist you in making informed decisions that bring peace of mind to you and your loved ones.

What is a funeral plan?

A funeral plan is a pre-paid arrangement that covers the costs and details of your funeral service. By planning ahead, you lock in today’s prices for services that may otherwise increase in cost over time, ensuring that your wishes are honoured without placing a financial burden on your family.

What does a funeral plan cover?

Funeral plans typically cover various services such as the funeral director’s fees, the coffin, transportation, and a ceremony (whether it’s a burial or cremation). Some plans also include additional services like flowers, notices, and catering. It’s important to review what each plan covers to ensure it meets your needs.

How do I choose the right funeral plan?

Choosing the right funeral plan involves considering your personal preferences, budget, and the reputation of the provider. Look for a plan that offers the flexibility to include or exclude specific services and compare several plans to find the best value. Reading reviews and testimonials can also help guide your decision.

Are funeral plans affordable?

The cost of a funeral plan varies based on the services included and the provider. While paying for a funeral plan up front can be a large expense, it can save money in the long run by locking in current prices and preventing your family from facing high costs later. Many providers offer payment plans to make it easier to pay.

Can I change my funeral plan once it’s purchased?

Most funeral plan providers allow changes to be made, although some may charge a fee for amendments. And any extra services outside of the plan will come at a cost. It’s a good idea to check the provider’s policy first so that the plan is flexible if your wishes change.

What happens if I move to a different location?

Most funeral plans can be transferred to a new funeral director within the same network. But check with your provider to understand any potential implications or additional costs associated with the move.

What if the funeral plan provider goes out of business?

Reputable funeral plan providers usually have arrangements in place to protect your investment, such as being backed by a trust fund or insurance policy. Before purchasing a funeral plan, check that the provider is regulated and has safeguards to ensure your money is secure. Reputable companies will be upfront about these.

How do my family members access my funeral plan?

Upon your passing, your family will need to contact the funeral plan provider, who will then coordinate the services as outlined in the plan. Discuss things with your family and let them know where to find the documentation.

Can I get a refund if I change my mind?

Refund policies vary by provider, but the law allows a cooling-off period during which you can get a full refund if you change your mind. After this period, refunds may be partial or not available, so it’s important to understand the terms before buying.

Is a funeral plan the same as life insurance?

A funeral plan is specifically designed to cover funeral costs and services, whereas life insurance provides a lump sum to your beneficiaries, in the event of an accident. Life insurance might be tied to a mortgage for example. While both can be part of your financial planning, they serve different purposes.

I have savings, do I need a funeral plan?

When you take out a funeral plan you’re paying for the funeral at today’s prices, even if that funeral is in 30 years’ time. So, no matter how much they rise, the cost of the funeral services in your plan are guaranteed. Funeral expenses rise year on year, and those savings or life insurance might not be enough to cover the complete costs of the funeral. A funeral plan means your loved ones won’t be using savings or inheritance to cover the costs of your funeral.

What’s more your bank or life insurance providers will not arrange your funeral. A pre-paid funeral plan will have this covered.

Final Thoughts

By planning ahead, you ensure your wishes are respected and a plan can really take the stress out of a funeral at a time of grief for your loved ones. When you take out a plan you’re letting your loved ones know what you want and this can reduce any disagreements at the time too.