8. How do I pay?
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 by instalments over more than 12 months, an instalment charge of 5.2% per annum applies. You’ll be told the total amount you’ll pay when you buy the plan.
Will I pay a deposit?
Yes, if you’re paying by instalments you’ll 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 cheque, direct bank transfer, credit or debit card.
Paying in instalments within 12 months
You’ll pay over a period of up to 12 months. A deposit will be paid at outset and the remaining balance will be split over the term. The monthly instalments will be paid by Direct Debit and no instalment charges apply.
Paying by instalments over more than 12 months
You’ll pay over a period of time with the cost of your plan split over the term. You’ll pay the instalments (including instalment charge of 5.2% per year) by a monthly 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’ll return all payments less a cancellation fee as detailed in the ‘How Do I Cancel?’ section.
If you purchase your plan online, please refer to our online payment terms that are featured on our website www.avalonfuneralplans.com
What if I miss a payment?
It’s important that you contact us as soon as you encounter difficulties with the instalments. You’ll have 60 days to reinstate your plan by re-commencing the instalments.
If you choose to do this, we may conduct a plan review of the current price of your plan and instalments made to date. This may lead to an increase in the payment amount or the instalment term of your plan. We’ll 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 either instance, 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 or 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’ll then have two options; you can reduce the number of instalments left to pay, or carry on paying 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 this is paid in full then all future instalment charges from the next instalment date will be waived.