pre-paid funeral plan

Base Rate Move Makes Funeral Plans Even More Attractive

After the Bank of England moved the base rate to a low of just 0.25%, banks and other financial operations have moved savers rates downwards yet again. Many bank accounts pay 0.1% or no interest whatsoever. Even ISAs pay from 1.1% to 1.7% if you’ve very lucky to fix a rate and lock yourself in for a period of time. Unfortunately, there is no sign that rates will increase more in the next few years, but it’s a great time to move some of your savings into a pre-paid funeral plan and save money with your savings. Older people have often put money away, to be able to pay for their funeral. They have consistently seen their savings eroded because inflation always appears and often is ahead of the interest rate on savings accounts. This means that your money in a savings account is worth less in real terms, every year. This is not matched by the vast increases in the cost of funerals in the past decade. Embed from Getty Images Inflation rates have eaten into the value of your savings Looking at any period, the figures are similar. Focusing on 1980 to date, funeral costs have risen 6.1% per annum, while inflation has increased by an average of 4.0%. These figures are certainly more than the average savings rate from your bank, building society or other institution. The cost of a funeral is now just over £4,000 for a burial and just under that for a cremation, but figures do vary across the UK. It would appear obvious that moving £4,000 from a savings account into a funeral plan is a great idea. By placing the money into a funeral plan trust account, you know that you will never have to add to that money because funeral plans guarantee to pay your funeral director’s fees at any time in the future. The funeral director is appointed as you prepare your funeral plan and their services are guaranteed to be provided at no extra cost to you, whenever you finally use the plan. Your money is safe and secure You will want to be confident that your money is safe and secure. The Trust funds are published every year so you can see what’s happening with your money in the Fund with tens of thousands of other individuals. The Fund is audited independently by The Funeral Planning Authority...

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Buy Your Time Against Funeral Poverty

To organise a burial for a spouse, a close family member or friend, can be a very difficult time for family. Is also an extremely expensive outlay, usually arriving at the worst possible time. Although surveys looking at the average cost of a funeral do vary, the University of Bath and Axa suggest that a funeral now costs £3,590 with the expectation that it will rise to £4,489 by the year 2019. Following the recession and the higher expenses for property purchases and university fees, funeral poverty is a phrase being used more often in 2015. The University claims that one in every seven people who had the unfortunate task of organising a funeral during the last four years, completed the task with considerable financial concerns, with an average shortfall of £2,371. This list below shows what a funeral costs in total and how this is broken down into its individual components (figures from Experian) Hearse £200 Mourner’s car £180 Oakleaf coffin £495 Professional services charge £918 Collection of body £127 Wooden cross on grave £46 Notice in newspaper £56 Catering and room hire for wake £400 Church fee £250 Grave digger’s fee £240 Hymn and service sheets £101 Organist £60 Removal and storage of existing headstone £345 Flowers £180 Cemetery fee & headstone inscription £494 Total funeral cost £4,092 From the people in the survey, 42% paid the bills from their savings and investments. 25% borrowed the money from friends and family while an incredible 22% used their credit card to help pay for some of the funeral costs, if not all. Where the finances are available, a prepaid funeral plan can ensure that the cost is fixed, whatever a funeral costs in the future. While providing great peace of mind for those that are left behind, a prepaid funeral allows people to understand what money they have left in their savings and investments. With payments being available monthly across a number of years or as a lump sum, prepaid funeral companies are trying to help individuals from the worries of meeting an extremely large financial bill, in the future. The data used in this article is available from the finance yahoo website. Related articles Why he’s making his own...

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Confusing the Cost of a Funeral

References to the funeral costs for a convicted child murderer may appear misleading or exaggerated if today’s Daily Mail is anything to go by. The newspaper is very annoyed today and judging by the many and varied comments, so are most of the readers who have cared or dared to leave a reply to the article written by Steph Cockroft. Here’s the link to the article; http://www.dailymail.co.uk/news/article-2925479/Child-killer-dubbed-Monster-Cannock-Chase-funeral-paid-Ministry-Justice-taxpayers-cash-used-buy-flowers.html Some facts will probably not be disputed; Raymond Morris, aged 84, died at HMP Preston in May, 2014, after spending 45 years in jail. He was found guilty of a seven-year-old child’s murder and suspected of two others. The taxpayer, the state, has funded the funeral costs of £2686, which includes £15 being spent on flowers, by the prison. The newspaper claims that the cremation fee was £751, £285 for the coffin, and £185 for the hearse. Further down into the article, they claim that the cost includes £1165 for the registration of his death. This figure is incorrect, but it may just be confusion and includes most of the costs for the cremation. The newspaper states that prisons are advised to pay up to £3000 towards reasonable funeral expenses, yet claim that pauper’s funerals are available for just £100. The reason these figures are misleading, are, when you consider that a funeral payment or bereavement payment are available, under certain circumstances. To read the details about funeral payments on the government website, you can click here; https://www.gov.uk/funeral-payments/overview The rules suggest that you can receive a funeral payment if you’re on a low income and need help to pay for a funeral that you’re arranging. The amount payable will depend upon individual circumstances and if the person qualifies by claiming in time; currently receives certain benefits or tax credits and meets the official rules connecting the relationship with the deceased The amount of money that may be paid out will help pay burial or cremation fees and exclusive rights to a burial in a particular plot. £700 is allocated for the funeral directors fees, flowers and the coffin. There is also an allowance for moving the body up to 50 miles within the UK. For anyone with a prepaid funeral plan, they may only receive help for items not covered by the plan. Alternately, you can visit this government website; https://www.gov.uk/bereavement which explains that if the husband, wife or civil partner has died...

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Would You Rent A Coffin For Your Funeral?

Choosing the right coffin is an important element of organising a funeral for you, or someone else. The make, style and cost are all important elements to the person making the decision and how it reflects upon others. Nevertheless, the coffin is going to be burnt or buried under the ground and only available, visually, for a short period of time; so what choices should you make? The range of caskets and coffins available is considerable, with prices from less than £100 to a top of the range model, costing several thousand pounds. Choose From An Undertakers Selection? You do not have to choose a coffin or casket from a selection shown by your undertaker or funeral director. Although you may be completing an emotional purchase at the time of high stress, you still need to consider your budget for the funeral among all the other associated costs at this stage of your life. While carrying out your research, you will need to know the difference between caskets and coffins. A casket is constructed with four sides and the top and the bottom; whereas a coffin is made with six sides and the top and the bottom. A coffin is wider at the shoulder space for the deceased person and slimmer along the leg length. Although the majority of selections are caskets, they are usually known as coffins. Confusing: yes? Worried about appearances? Most people would not wish to be known as cutting corners on the finances, when you choose a coffin. Also, you would not want to be disrespectful to the dead by choosing the cheapest possible model, but would they have minded and are you wasting money by spending more? In the varying price ranges, there is little distinction in the appearances between a rather cheap veneered MDF oak look coffin and the solid oak version which will cost you at least six times as much. By spending less money on the coffin, most people won’t be able to tell the difference. Going green? Rather than contributing to the cutting down of a forest, you can choose wood that has been carefully selected from a managed forest, where the wood content is constantly assessed and new trees grown in the area. Alternatively, you can choose bamboo, willow or a cardboard coffin. Not all of these will necessarily be the cheapest coffin that you can purchase, but you...

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Who Cares for the Carer?

Caring for a loved one or a close friend is vitally important for a loved one or a close friend, but what happens when you need help or care for yourself, either for just a few days or for a much longer period? The helpful people over at alzheimers.org explain the potential sets of circumstances very clearly, providing tips to help everyone through those demanding times. Where the carer receives no respite from providing care, day in day out, 24/7, there is an obvious health implication for the person providing the care. Care is provided for and by people of all ages with a wide range of different disabilities. Respite care is provided over a short-term period to provide a temporary alternative to the standard arrangements in place. Where you have been successfully caring for someone with dementia, there is a need for a break from the care activities so that your batteries can be recharged.   It is perfectly normal for a carer to feel guilty if they have to leave the person they are caring for, alone for any period of time, but you are not helping the individual that requires the care when your tasks make you ill. For the patient’s benefit, they will probably prefer to stay in familiar surroundings, rather than moving somewhere else, temporarily. The individual may not be able to understand, completely, why they are moving elsewhere, and whether they will return in a short period of time. This confusion can add to the anxiety of both carer and patient. The website offers a number of tips to help individuals avoid distress, such as; Avoid discussing arrangements too far ahead of the planned date. When the time comes, talk about the break in the context of a ‘little holiday’ and be positive in your explanation. Reassure the person with dementia that they will be well cared for and that they will be coming home again. Remember that any insecurity or uncertainty you show may cause the person with dementia to feel afraid, so stay calm and give information in a clear and simple manner. Stress is infectious, but so is calm. Remember that it is not selfish to want or need a rest. There are many sections, on the website, discussing the different ways that care can be provided and how, principally for patients with dementia. In particular, they explain how care at home can be...

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