DH wants to organise a funeral plan

[Skipsurvey]

there seems to be negativity on here around this
i thought it was a good plan.
buy in advance.
why ever not? particularly with a large company, ie Coop

My kids have had so much from me over the years, the least they can do is bloody bury me…

I wouldn’t, because what happens if they go bust? Might be a large company, but we could all name many large organisations that went under, especially in this climate. My mum has said the money is in her savings, so take it from there. I think thats the best option, and we have enough to cover it if payment needed before probate is complete, but funeral directors will wait for probate too.

I haven't bought a funeral plan but I have bought my burial plot.

I can't actually see a problem buying in advance if that is what you want to do.

All my family do this once they reach about 50.

I spoke to my aunty yesterday about hers. She has paid in advance. My grandfather did, my Dad has. I will do the same when I am older. All with the same local funeral director.

my life insurance covers mine and my dc should they die before or at the same time as me.its with royal London.

My mum started one and the company went bust, luckily she only lost £500.

She's organised her plot & is transferring me £50 a.month to a separate savings account which should be enough to cover.it, rather than me having to.pay & then wait ing to get the money back from the estate

I've got one with the Co-Op. The last thing I want is to lumber my sibling (in my case) with organising that shit as well as all the other stuff. Their Funeral Plans are protected by the FSCS, which provides automatic protection if Co-op Funeral Plans Limited goes out of business.

I have just seen that it's looks like the FCA (assuming you are in the uk) has new regulations regarding funeral plans so might be worth checking them out regarding if a firm goes bust.

Cross posted with PP about the FCA.

Mum is putting money in an account in my name for it, it is earning interest. That way I can get to it without jumping through any hoops and it can cover the wake without any more hoops. Banks will pay reasonable funeral expenses but they each have their own procedures which you have to check beforehand. It’s not difficult it’s just an added thing to do on top of everything else.

Both my and DH's cousins are funeral directors and they recommend Golden Charter. So saying but we are probably going for direct cremation!

My dad did his

If you go through the co-op use a membership card you get a discount £300 off my dad's because he used my card and I got reward points

Box and Burn or Euthanasia for me. Have 20k set aside in a Euthanasia money pot. Box and burn is less than 2k. No service or people to attend. I am looking forward to the next chapter (if there is one). The only thing I dread is a nursing home or a prolonged painful death.

dh is catholic so quite concerned that he is not cremated but thanks for the information, that is comforting

My parents both have paid for their own plans. It's not just the money, it's all chosen as well so minimal organising required from us when the time comes.
Added: we'll pretty much just have to choose the date.

My family member had £7k in an ISA that was always called her funeral fund and wasn't allowed to be touched for anything else. It covered the bill and we had a little leftover. That approach allows for flexibility and changes in choices / circumstances and meant she didn't pay in for donkeys years (if you are considering a monthly payment v a one off).

I think the plans are very heavily sold on daytime TV, making you think you are weird for not having sorted it. The reality is in many cases (ours included), there will be plenty of ££ leftover in the estate to cover funerals, it just isn't a bill we need to pay in advance.

If you buy a burial plan, make sure you pay for it with a credit card, or at least part of it. Then you have section 75 protection if they do go bust.

we dont have credit cards

I need to do this. I was toying with going with a basic cremation from co-op as they're probably least likely to go bust. I don't want to leave it to DS to sort.

You should be ok with the Co-op, well hope so at least as we bought with them. Around 4 k but at least prices are held as obviously we're hoping that they are not used for a while yet.

Banks will pay it direct to the funeral home out of a deceased persons account.

Aren’t these plans covered by some kind of insurance policy?

If he doesn't want cremation, he can buy his plot now and then specify burial in his will. Having had to organise the funerals for three family members, I would have preferred the person had planned their service (readings, hymns, music etc) and chosen a funeral director rather than pre paid for it. Working out the Order of Service is really hard when you're trying to cope with losing your family member.

Very normal in my family, even our quite poor relations on benefits did it to save us the financial stretch, I suppose in some respects it's more important when you don't have an estate to fund it from, but it just made everything very easy as well. I can't imagine how selfish someone would have to be to have the attitude of it's the least someone can do.

We've paid for direct cremations with the Co OP. One less thing to worry about

Same here.