Small Heath, Birmingham Sep 17, 2021 (Issuewire.com) - Pre-Paid Funeral Plans: The Pros and Cons
It’s not something anyone likes talking about but your funeral or the funeral of a loved one is something that needs to be thought-about as you start to get older. Thomas Furber wants to discuss prepaid funeral plans pros and cons to clarify what a funeral plan entails and lay out whether it is the right move for you. It’s an important decision and one they hope to make as easy as possible.
What is a pre-paid funeral plan?
First, just some general information about pre-paid plans. It’s exactly what it sounds like. It’s a plan put in place to pay for your funeral when you die. This is often paid through monthly installments, though a flat fee is offered if you wish to pay in one lump sum. These plans are often discussed alongside life insurance policies; some policies do include funeral plans, though most just pay a lump sum. The discussion around which is better is a tough one and it usually depends on your own personal circumstances.
Pros of a pre-paid funeral plan
- It freezes the cost of your funeral. This is probably the most appealing aspect of a funeral plan. Funeral costs are always on the rise with inflation and the price of a funeral has almost doubled in the space of only 10 years (Source: SunLife)
- The plans offer multiple payment options over long periods often up to 10 years, allowing for easier payment and less panic over funds.
- It takes the weight off of your loved ones. A funeral of a loved one will always be one of the most difficult days you’ll face so taking some of the pressure off and organising the funeral yourself is appealing.
- It allows you to make the day what you want it to be, removing that stress of whether it’s what you wanted.
Cons of a pre-paid funeral plan
- The plan may not cover all costs. Most plans don’t include a burial plot or the cost of additional items such as flowers. If they do include them, these are often more expensive.
- While these plans offer different payment options, you need to be sure you can afford the payments. If you are going to be struggling financially, a funeral plan may not be for you.
- A funeral plan means that the payout is limited to your funeral. It’s nice to cover a big expense but it also means that your family will not receive any money unless you also take up a life insurance policy. It’s always worth looking at what you want for your family and whether a funeral plan suits you.
- A funeral plan means you have to face your mortality. This can be a good thing in terms of acceptance but it can also be too much for some people so it’s always best to talk about it with your family first so it’s not such a huge weight when you are discussing the funeral.
So there are just some of the prepaid funeral plans pros and cons. There are other pros and cons out there and as always, it is down to your own personal circumstances. It is always best to not feel forced into something and have a good understanding of what you are getting involved with before talking about plans.
Thomas Furber & Co. are family-owned funeral directors in the heart of Birmingham. Situated in the district of Harborne, they have been providing first-class funeral care since 1868. They are members of SAIF, the national organisation of Independent Funeral Directors. This means you are guaranteed the highest standards of professionalism in the funeral industry which is so important when dealing with such a sensitive topic. They are not attached to a national chain, meaning they can offer a more personal service, and you are given more freedom in your decision. Learn more through their website: https://www.thomasfurber.co.uk/
Media Contact
Thomas Furber info@thomasfurber.co.uk 0121 427 2233 122 Station Road, Harborne, Birmingham https://www.thomasfurber.co.uk
