Over 50s funeral plans – what do I need to know?
Having a funeral plan in place helps ease the burden of finding the money to fund your funeral at short-notice or using some of the pay-out from a life insurance policy.
The minimum is 50 for these types of plans (hence the name) and the maximum age you can contribute is between 80-85. You set the amount you think will be needed to fund your funeral and pay a contribution every month towards it.
The older you are when you start your plan, the higher your premiums will be. Any premiums you make are invested on your behalf.
Some plans are linked to inflation, so premiums will go up and down accordingly. The lump sum at the end will usually do the same too. Pay-outs are guaranteed when you pass away, provided you’ve made payments for a certain length of time.
Medicals aren’t required either, so everyone is guaranteed to be accepted.
What’s included with a funeral plan?
That depends on the individual plan. Most, if not all, will cover the funeral procession and the church service, but might not include the burial plot, headstone, or flowers for example.
An alternative way to pay for a funeral is to take out an over 50s life insurance policy. These also offer guaranteed acceptance and pay-outs that can be put towards your funeral.
To talk to us about an over 50s funeral plan, please use the pop-up form on the right-hand side of this page. If you prefer to talk to us by phone, please call 01244 470 107, You can also send an email to: firstname.lastname@example.org.
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