Funeral Plan

Taking care of funeral costs in advance just got a whole lot easier!

Perhaps this may sound rather an odd thing to enthuse about…
The thing is, we are frequently asked about funeral plans. Often people are rightly concerned about taking care of their own future funeral costs and are anxious about this financial burden landing on their children. It makes perfect sense - much anguish could be saved if more people took this approach (and also let their family know their wishes, but that is for another blog…!) The trouble is that prepaid funeral plans can be problematic.

Why? Well….on the whole they tend to be somewhat restrictive and expensive, working more to the advantage of the funeral director than the consumer. Rigidly set ‘packages’, unclear charges and inexplicably high costs are part of the problem. Not to mention the inevitable sales incentives, for which the customer ultimately foots the bill, in what has become a feverishly competitive, complicated and cut throat market.

But my main misgiving is that these plans effectively tie people to a package of things that, when the time comes, may not be what is helpful or wanted. People move away, new options become available (perhaps a natural burial site opens up near by) or the carefully selected funeral director may change hands – or die first! Families are deprived of the ability to “shop around” to suit their needs as they are at the time.

That is why I have tended to advise people to just try to put some money aside for funeral costs if they have concerns, but of course this is easier said than done.

So thank goodness for the folks at the Good Funeral Guide (GFG), who have recently launched the ‘GFGPlan’ in response to this gap in the market.

“We couldn’t find a funeral plan that delivers everything it ought to… …so we created one” Charles Cowling, Consumer Champion and Co-Founder of the Good Funeral Guide.

The GFGPlan is so simple. Money is invested into a trust fund where it has the chance to grow and keep up with changes in prices. It can only be used to pay for your funeral expenses and interest earned (at nearly 4% mind!) is tax-free. It is that simple.

You can create an incredibly detailed plan with all your wishes described. Or simply say “this money is for my funeral. Do what you like!” And there’s a single, one off admin fee. No commissions paid to sales and marketing teams.

No need to buy from a choice of packaged funerals – you have the freedom to choose whatever you wish to be included from (natural) burial / cremation to style of coffin to method of transport. Your wishes can be recorded in as much detail as you want, and the money you set aside will go towards meeting your wishes. The extent to which these wishes can be met will depend upon the amount of money you put in the pot.

This truly is about as flexible and transparent as it is possible to get in the world of funeral plans. From a personal point of view I feel that I can truly promote this in good conscience. So do get in touch if pre-paying for your funeral is something you have been meaning to get around to.

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