The Best Laid Plans of Mice and Men…
Many people don’t want to think about the future and what might happen to us unless we’re thinking about holidays, weddings, birthdays, or the like.
And yet by not planning for what happens when we die, we leave our loved ones at risk. Therefore putting a funeral plan in place gives peace of mind to our loved ones and ourselves.
As the saying goes, “the best laid plans of mice and men are oft to go astray”, but the right plans often make the crucial difference.
I can’t plan it now, I’m not dead!
That’s great to hear, because let’s be honest, none of us want to die. But here’s the simple truth: dying is the one true inevitable thing that will happen to us all.
So why shouldn’t you plan for it? It isn’t difficult to do, but it could be difficult for your loved ones to do once you’re gone. And you certainly can’t plan for it once you’re dead because that’s absolutely too late!
So what is a pre-paid funeral plan?
A pre-paid funeral plan is a simple way to plan ahead and give peace of mind to your loved ones because it’s one less thing for them to worry about when you die. It’s also a cost effective way of avoiding leaving your loved ones with a large funeral bill.
- You are making decisions for your loved ones so they don’t have to;
- You are able to prevent arguments over what you would have wanted;
- You can choose your funeral director;
- You pay for your funeral at today’s prices not the price in 10+ years time;
- You can pay in easy instalments if you don’t want to pay a lump sum;
- Guaranteed acceptance.
So who do we use?
There are many different providers out there so make sure you get the right one for you. Each one has their strengths, and there will be one that is a best fit for you. That said, always seek independent advice because there are often terms & conditions that mean you don’t always get what you think you are getting.
Case in point, the husband of one of our clients purchased a funeral plan from a large, well known and respected organisation that helps aged people over 55 across the UK. He was paying for the plan monthly and sadly passed away 14 months after taking out the plan. The organisation and their plan provider refused to pay out anything to the family because the plan was not paid in full.
To add further difficulty and upset for the family, the organisation said it was nothing to do with them as they were only an introducer to the plan provider. This left the family in the dark with no-one to turn to for help when they needed it the most. As a result the daughter of the deceased had to take out a £5000 bank loan to cover the cost of the funeral; a funeral that everyone thought would be paid for, at least in part, by the funeral plan.
Unfortunately the family only sought our advice after the fact, when it was already too late.
This organisation is now making a big push for people to take up one of these plans and is offering a “free will writing service” as an enticement. However, this bolt on service is again not dealt with by the organisation as they pass you on to someone else to do the work.
This means that if anything then goes wrong, they are once again likely to leave you high and dry with no support.
So ask yourself this: do you want to be caught in the same situation as our client?
So what next?
If you are seriously considering putting in place a pre-paid funeral plan and a will as a part of your sensible approach to estate planning, speak to an independent specialist advisor like us first.
Had our client spoken to us before taking out the above plan, we could have put a plan in place that would have helped them with their loss, not added to their grief.
We’ll discuss your preferences and options to ensure you get the peace of mind you are looking for.