In the current financial climate Prepaid Funeral Plans can make good economic sense, as it can safe guard against some of the rising funeral expenses for the future. It can also give the client peace of mind that their wishes are recorded and will be carried out, thus saving relatives the anxiety and expense at an emotional time. Often Plans are sold to the client who believes ALL future costs are guaranteed – in the small print they are invariably not!
However, the way that some of these Funeral Plans are being sold is something to be cautious about. Because of their popularity, funeral plans are big business and it seems everyone wants a share, using all sorts of methods to get a sale. It’s not just an advertisement in your local newspaper or glossy magazine anymore, you can be approached in all sorts of ways; leaflet drops, making a will with your local solicitor or taking out insurance, but I think the most disrespectful way is the COLD CALL. Since a large number of clients often think about such a Plan following the death of a loved one this can and does catch out the most vulnerable.
What I really want to bring to your attention is that those companies that use these methods are NOT funeral directors. They are businesses out to gain revenue by acting as middle men, taking your money and limited instructions and securing these instructions with an allied funeral director – often that funeral director may not be your preferred choice. In some cases the client is allowed to nominate a funeral director of their choosing, but the fee offered to this funeral director is usually at a much reduced rate than what you as the client will have paid for the plan. This makes it difficult for the nominated firm to accept the instructions without creating a financial loss. It is not uncommon for a client to pay one of these firms £3600.00 and for the funeral director to be offered £2400.00. This is fact and has actually happened to us.
The truth is, if you are considering taking out a funeral prepayment plan, then do it with the funeral director you want to carry out your funeral! Otherwise you might pay more than you need too, may not have the funeral you wanted and may not be able to use the trusted and respected funeral director that has been a part of the community and served your family for generations. If you’d like some advice, without obligation, regarding Funeral Prepayment Plans then do give me a call on 01386 552141. Why pay more than you need to for the services of someone you don’t know!
Richard Hill Dip FD
E Hill & Son Funeral Directors, Pershore, Worcs. WR10 1HZ.