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What are Monthly Funeral Plans?



Foresight is one of the most useful things anyone can possess. By looking ahead, you can see problems coming and get ready for them. When you do that, you can sometimes even avoid them completely. And if you’re interested in a funeral plan, you’ve proved that you’ve got foresight. You’ve looked ahead and seen the possible problems that can arise when someone passes away without a plan in place. 

With a funeral plan, you avoid those problems. And you also save money – a lot of it. With funeral costs rising much faster than inflation, a funeral plan will save you money from the day you purchase it. But there are many ways of paying for a funeral plan. 

Paying Monthly

All the good funeral-plan providers offer their customers a variety of payment choices. If you choose to pay over one or two years, you won’t charged interest on your payments.

 If it’s longer than that, whether five years or ten, then you don’t need to lay your hands on large sums of money in a short time. But because this means less money for the funeral-plan provider than the quicker options, the provider needs to charge interest on the monthly payments to offset reduced income. Typically this interest ranges from 4% to 6% and it means that the total cost of a funeral plan on the long-term options is greater than the cost for the two-yearly option or a lump-sum payment.

Comparing Funeral Plans

But is that the comparison you want to make? In fact, any kind of funeral plan is an inflation-buster. Funeral costs are rising much faster than 6% and paying for a funeral plan over ten years will certainly be an inflation-buster. What’s more is that you will know right at the beginning how much you will have to pay over those ten years. There won’t be any nasty surprises or hidden charges waiting down the line and however much funeral costs rise, your payments will stay the same.

 Funeral plans will always be inflation-busters and payment options give you more flexibility when money is tight. And there’s no pressure on you to make a choice you may later regret. All good funeral-plan providers are happy to discuss the options and answer any questions you might have. When you make your choice, it will be the right choice for you and your funeral plan will start saving you money right from the start.

 What to do next 

To see the monthly costs each Safe Hands Funeral Plan, please visit our Funeral Plans pages, but, do remember, Safe Hands offer 2 years interest free options on all plans.

National Federation of Funeral Directors