Why choose a funeral plan?


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How will your loved ones pay for your funeral? It’s not a pleasant thing to think about, but if you’re relying on savings or life insurance to cover the costs of your funeral, you might not be as covered as you think.

A funeral plan can offer reassurance and peace of mind. Here’s a quick guide to funeral plans and why they’re the best option for covering the cost of your funeral.

What is a funeral plan?

Avalon provides funeral plans that enable you to fix and pay for funeral director fees at today’s prices, potentially saving your loved ones thousands of pounds.

According to recent research, the average cost of a funeral today is £4,078, with fees rising by around 7% a year – faster than the rate of inflation. By covering the costs of a funeral director now, your family won’t have to worry about how to give you a good send-off.

There are flexible payment options, or you can pay with a single payment – whatever works best for you.

Your loved ones will know exactly what you want when the time comes. A pre-paid funeral plan enables you to make important decisions now so you family won’t have to later. These include personal choices such as burial or cremation, or whether you would prefer a simple service or a more elaborate celebration of your life.

Think you’ve got it covered already?

Personal savings – With funeral costs rising by over 70% in the last 10 years and interest rates remaining low, the cost of your funeral could outstrip what you have in your savings. Furthermore, inflation will eat into your savings meaning that you may have to save for longer to cover the funeral costs. To access personal savings after you’re gone, you’re loved ones will need to provide a funeral invoice and Death Certificate to the bank. However, if your account is overdrawn, the bank will not release any funds.

Your will and estate – You may have recorded your funeral wishes in your will and made plans for the costs to be covered by your estate. However, the probate process usually takes six months to a year (possibly even longer if the estate is complicated). That means that if the money for the funeral is tied up in property, shares or personal possessions, it could take a while for your family to receive the proceeds of the will in order to pay for the funeral.

Over-50s Life Insurance – Life insurance pays out a lump sum to your family when you die. However, the longer you live, the more likely it is that you will pay more in premiums than your loved ones will receive after you’re gone. In addition, inflation means that the lump sum they receive will be worth less in the future.

Call us on 0800 014 9112 to find out more about our funeral plans, or compare funeral plans online now.


About the author

With a Masters from the University of Bristol, Jessica Hanson has worked in the funeral sector for several years, following the latest industry trends and writing about end of life planning. Jessica has previously written as a blogger for the Huffington Post, covering topics such as death positivity, understanding grief and how funerals are changing. You can find Jessica on LinkedIn and Twitter.