How do I choose a funeral prepaid funeral provider?

Choosing a prepaid funeral plan can be a daunting task and there are lots of aspects to consider.  

There have been big changes to the prepaid funeral market in the UK, in July 2022 it became law for all prepaid funeral providers to be registered with the Financial Conduct Authority (FCA), which offers funeral planners much more protection over their plan than before. All the prepaid funeral plan providers listed on Legacy of Lives have been vetted to ensure that they comply with the FCA regulations. 

There are many websites that offer advice on choosing a prepaid plan such as Martin’s Money Tips, but you must be careful as some comparison sites are backed by prepaid plan providers, however Legacy of Lives is completely independent. 

One of the first things to address when selecting a prepaid funeral plan is whether the provider covers the area in which you reside, there are many national providers but some firms are only regional. As mentioned in Martin’s Money Tips, if you move house you must be sure to tell your plan provider, as they may not cover your new area. If your provider does not cover your new area, it should be possible to move your plan to another provider. If you do not inform your provider of changes of addresses, your plan may not be valid when the time of need comes, this can be the case even if your new address is in an area that your provider covers. 

Prepaid funeral plans offer widely varying levels of cover, it is important to know what you want from your plan before committing to the plan. There are some plans that cover just the basics, whereas others will cover everything from family transport, flowers and the wake. If you select a minimal coverage funeral package it doesn’t mean that you can’t have any extras, these won’t be covered in the plan but they can be added on and paid for separately at the time of need. 

Carrying on from aspects that aren’t covered in your plan, it is important to remember that inflation and rising costs can have an impact on your plan. It can be the case that funeral plans do not have enough funds within them to cover what was originally set out in the plan, meaning that the funeral arrangements will need to be scaled back or additional payments made. 

It is also important to note, as highlighted by Martin’s Money Tips, that a funeral plan is not right for everyone. Firstly the age limits for plans vary hugely, and you may find yourself outside the age limits for purchasing a prepaid plan. You should also consider your future plans; for example if you plan to emigrate you may find that your plan becomes invalid or struggle to find a plan that will move with you. Putting money aside for your funeral can ease the pressure on your family, however if covering the of a prepaid funeral plan is putting you into debt then it may not be the best solution. If you are worried about funeral costs there is lots of support on Legacy of Lives, from grants available to how to create a funeral plan within your budget.  

As mentioned earlier there is lots to consider when not only selecting a prepaid funeral plan but also deciding whether a prepaid funeral plan is right for you. The Legacy of Lives funeral planner allows you to store your wishes whether you’re planning a funeral in advance or at the time of need, if you are not sure whether a prepaid plan is right for you, documenting your funeral wishes with the Legacy of Lives funeral planner is a great place to start.  

Start your personalised funeral plan today with Legacy of Lives.