MW Legal Services are delighted to be working in conjunction with Safe Hands Funeral Plans the UK’s fastest-growing and most affordable pre-paid funeral plan provider.
According to the Bank of England the current rate of inflation is 3%. By comparison, according to the Sun Life Cost of Dying Report 2017 the average cost of a basic funeral rose from £3,897 in 2016, to £4,078 in 2017 - an increase of 4.7%.
With funeral costs rising far in excess of the annual rate of inflation, it is an unfortunate fact that, for many families, budgeting for a funeral by traditional means may no longer be sufficient to cover the cost.
Safe Hands Funeral Plans, in common with all other legitimate funeral plan companies, invest their customers' monies in a ring-fenced Trust Fund, through which they grow in value over the course of the plan holder's lifetime. Then, when the plan holder passes away, a sum of monies that we guarantee will be sufficient to cover the cost of the funeral director's fees and services, is released from the Trust Fund and paid directly to the funeral director appointed by Safe Hands Funeral Plans to conduct the funeral.
As one of the UK's premier funeral plan providers it is of paramount importance to Safe Hands Funeral Plans, that customers' investments are safe and secure. To that end, maximum care has been taken to ensure that the Trust Fund in which customers' monies are invested complies with all current legislation as set out in the 'Regulated Activities Order' (Financial Services and Markets Act 2000).
The overall cost of a funeral comprises two key elements - costs of services that are provided by the funeral director (known as 'Funeral Director's Fees and Services') and costs of services provided by external parties (known as 'Disbursements' or '3rd party fees').
Funeral Director's Fees and Services can be broad-ranging, but, typically, they include such items as care and preparation of the deceased, collection of the deceased, provision of transport and staff, provision of support, guidance and advice to bereaved families, etc. The Safe Hands Funeral Plans Gurantee states that no matter how long a Plan Holder lives, there will never be anything further for their family/representatives to pay towards the Funeral Director's Fees and Services.
Disbursements are items provided by 3rd parties. Typically, they include such items as the crematorium fee (or if burial, the cost of opening the grave) the doctor's fee for certifying the death, and the minister's fee. These are not guaranteed. However most Safe Hands Funeral Plans options ('Pearl', 'Sapphire' and 'Ruby') include a generous, but not unnecessarily excessive, £1,200 allowance towards the Cremation fee (or if burial, the Interment fee), the Doctor's fee and the Minister's fee.
In the highly unlikely event that the £1,200 disbursements allowance plus indexed CPI uplift (calculated annually) is insufficient to cover the combined cost of the Cremation Fee (or if burial, the cost of opening the grave), the Doctor's fee and the Minister's fee, at the time of need - then any shortfall would need to be paid by the plan holder's representatives before the funeral takes place.» See our Range of Funeral Plans