Are you covered?

Plan today to ensure your tomorrow is protected

When it comes to funeral costs, an over-50s plan or life insurance policy may not do the job – a funeral plan is the only way to guarantee that the costs of the main elements will be met. While sadly we’ll no longer be around for our loved ones when we pass away, we can help them by making our funeral arrangements today to ease the financial and emotional burden that would otherwise fall to them. Many people assume that they’ll already have their funeral costs covered by their life insurance policy or over-50s plan – but that’s not always the case.

Think you’ve got it covered?

‘Term life insurance’ policies will only pay out if you die before the end of the agreed term. If you survive that term, no money will be paid out at all, so your family would be expected to foot the bill for your funeral themselves.

On the other hand, ‘whole of life’ insurance policies and over-50s plans are designed to pay out whenever you die, but with funeral prices soaring every year, you have no guarantee that the costs will be fully covered. You should also consider that it could take weeks or even months for the money to be received, so your family may have to cover the full costs themselves initially.

Plan ahead to help loved ones

A funeral plan is the only way to secure the cost of the funeral director’s services at today’s prices and provide protection for your family in the future. The cost of a funeral is rising by 7%* each year and now stands at more than £4,000**.

But with a plan in place, you can ‘lock in’ the costs at today’s prices, saving you or your family potentially thousands of pounds. You can also spread the costs if you wish. A plan is also a good opportunity to make important decisions and the arrangements for your own send-off, so your family and friends won’t be left to make potentially difficult decisions at an already upsetting time.