The Benefits of Funeral Payment Plans

funeral payment plans

Dying is one of the most expensive things you’ll ever do, besides going to university, buying a house and getting married. Funeral payment plans can help spread the cost of your funeral, ensuring you get the farewell you want and deserve.

On average, a basic funeral costs £4,184, but that only covers the funeral – it doesn’t include things like disbursements and discretionary costs to personalise the day. And funerals are getting more expensive; if prices continue to rise, a basic funeral could cost over £5,000 by 2025. 

One way to protect against these rising costs is to consider funeral payment plans that allow you to arrange, and pay for your funeral in advance. There is no standard, one size fits all funeral, and prices will vary depending on your wishes, so you should pick from a range of funeral payment plans that suit your needs.

Funeral payment plans are designed to cover the cost of your funeral and enable you to lock in certain services, such as the funeral director, at today’s prices, which could result in significant savings in the long term.

Not all services are covered by funeral payment plans. Depending on your funeral plan there may be an allowance towards third-party fees such as doctor’s fees, and you may be able to leave an allowance towards the cost of flowers or transport for guests. 

Capital Life has a range of different plans to suit all budgets, all of which allow you to pay for your funeral up front, either in a one-off lump sum, 12 monthly payments, or in convenient and affordable monthly instalments over a number of years, depending on your age. Money paid into funeral payment plans is held in a secure trust fund managed by HSBC, and is safe until the time comes.

To see how funeral payment plans could help with planning your final farewell,  contact us now or call 0800 411 8683 and one of our friendly advisors will be happy to guide you through the options available.