8. HOW DO I PAY FOR MY PLAN?
You can pay for your plan in one of three ways:
- In full with a lump sum
- In instalments within 12 months
- In instalments over more than 12 months
If paying your plan by instalments over more than 12 months, you’ll pay an instalment charge of 5.2% per annum. You’ll be told the total amount you’ll pay when you buy the plan.
Will I pay a deposit towards my plan?
Yes, if you’re paying by instalments you will pay a deposit to set up your plan, this will be deducted from the total amount and reduce your monthly payments.
How can I pay and when will I be entitled to my plan?
Paying in full:
You can pay in full by credit or debit card. Paying in instalments within 12 months: You’ll pay towards your chosen plan over a period of up to 12 months. A deposit will be paid at outset and the remaining balance of your plan will be split over the term. You’ll pay the instalments monthly by Direct Debit and no instalment charges will be applied.
Paying by instalments over more than 12 months:
You’ll pay for your chosen plan over a period of time. The cost of your plan will be split over the term of your plan. You’ll pay the instalments (including instalment charge of 5.2% p.a) monthly by Direct Debit.
Your plan will provide the benefits detailed in your Plan Certificate once it’s been paid in full.
If you die before all instalments have been paid, your representative will have the option to; pay the balance outstanding before the funeral or cancel the plan in writing and we will return all payments less a cancellation fee as detailed in the ‘How Do I Cancel’ section.
What if payments are missed on instalment plans?
It’s important that you contact us as soon as you can if you encounter difficulties with the instalments. You’ll have 60 days to reinstate your plan by re-commencing the instalments.
If you choose to reinstate your plan after 60 days, we may conduct a plan review taking into account the current price of your plan and instalments made to date. The review may lead to an increase in the payment amount or the instalment term of your plan. We will discuss this with you at the time. If you choose not to re-commence payments, the monies held (less the cancellation fee) will, at the time of need, be paid to your appointed Funeral Director as a contribution towards their fees or to your representative. In each of the above instances, there is no obligation by us to fulfil your plan.
When will my instalments be collected?
We’ll collect instalments monthly by Direct Debit. You can choose a payment date of the 1st, 8th, 15th and 22nd day of the month. Your plan instalments will be collected on the same day each month. If this payment date is on a weekend or on a bank holiday, we’ll collect the instalment just after that date.
The details showing on your bank statement for these payments will be Avalon Funeral Trust No. 3.
Can I make one-off payments to pay off my plan more quickly?
Yes, that’s not a problem. You can make one-off extra payments on any instalment plan at any time to reduce your balance, or pay the plan in full.
If you do this, you’ve then got two options. You can reduce the number of instalments left to pay or you can carry on paying for the plan over the same number of instalments.
We’ll reduce the instalments to reflect the lower balance.
You can also request a Conversion Statement at any time to show your outstanding balance.
If the outstanding balance is paid in full then all future instalment charges from the next instalment date will be waived.
How can I change my personal details/address?
Let us know if you change your name, address or bank details or any other information that may affect your plan. If you move house, you’ll need to get in touch so we can appoint another Funeral Director that is closer to your new place of residence and if you let us know before the time of need this will be done free of charge. If you move to one of the European countries that we operate in, you need to contact us so that we can issue a Plan Certificate with your new address and appoint a Funeral Director in that country should death occur abroad. If you move to a country where we do not operate, or we are unable to find you a Funeral Director in the area you have moved to, the plan benefits will not be available in that country and we will cancel your plan and refund the monies paid, less the cancellation fee. See the ‘How do I cancel’ section.
How is my Funeral Director appointed?
We have an extensive number of contracted, reputable, Independent Funeral Directors to fulfil the funeral arrangements in the future. We will appoint a Funeral Director to your plan that is located within the area you reside If you move house, we can appoint another Funeral Director that is closer to your new place of residence and if you let us know before the time of need this will be done free of charge.