Jump to content
DOSBODS
  • Welcome to DOSBODS

     

    DOSBODS is free of any advertising.

    Ads are annoying, and - increasingly - advertising companies limit free speech online. DOSBODS Forums are completely free to use. Please create a free account to be able to access all the features of the DOSBODS community. It only takes 20 seconds!

     

Prepaid funeral plans


DTMark
 Share

Recommended Posts

My mother surprised me by buying a funeral plan to cover the costs when she passes on.

She has given me the documents to read and wants to know if there are any 'gotchas' or things that she ought to be aware of.

I'm having a scan through them now trying to pick out anything relevant.

The way this appears to work is that you nominate the funeral director at the inception of the plan. My first question, therefore, is what happens should said FD go bust. The answer to that may be forthcoming in the Ts and Cs.

However are there any points I should be paying attention to, e.g. sharp practice, exclusions, etc.? The company is called "Golden Charter". Grateful for any pointers or advice.

Edited by DTMark
Link to comment
Share on other sites

Shortly after my dad died my mother was determined she wanted to put money aside for her own funeral so we looked at various possibilities.

Golden Charter's website FAQ's cover the case of the nominated FD going out of business by saying they will - in consultation with you -  appoint a new one, so that looks OK providing Golden Charter themselves remain in business and I haven't checked their Ts and Cs for that eventuality. 

As my mother wanted to make a single payment rather than take out an instalment plan, she eventually decided the most straightforward approach was to open a separate savings account that was converted into an ISA when they were introduced. I'm unsure whether the economics of that make sense in that the modest interest earned might not keep up with inflation but she saw it as saving her form-filling, years of correspondence and the possibility of offers to "upgrade" her plan, although I have no idea whether that is how Golden Charter et al actually operate!

If you or your Mother should decide a discrete bank account/ISA might better suit then I see Golden Charter give you 30 days to withdraw at no cost or - I think - a £249 "administration fee" thereafter. 

In the event, my mother lived for another 30 years ...... and outlived the local FD she would have nominated in a funeral plan. xD 

Link to comment
Share on other sites

Carl Fimble
39 minutes ago, Duck said:

Shortly after my dad died my mother was determined she wanted to put money aside for her own funeral so we looked at various possibilities.

Golden Charter's website FAQ's cover the case of the nominated FD going out of business by saying they will - in consultation with you -  appoint a new one, so that looks OK providing Golden Charter themselves remain in business and I haven't checked their Ts and Cs for that eventuality. 

As my mother wanted to make a single payment rather than take out an instalment plan, she eventually decided the most straightforward approach was to open a separate savings account that was converted into an ISA when they were introduced. I'm unsure whether the economics of that make sense in that the modest interest earned might not keep up with inflation but she saw it as saving her form-filling, years of correspondence and the possibility of offers to "upgrade" her plan, although I have no idea whether that is how Golden Charter et al actually operate!

If you or your Mother should decide a discrete bank account/ISA might better suit then I see Golden Charter give you 30 days to withdraw at no cost or - I think - a £249 "administration fee" thereafter. 

In the event, my mother lived for another 30 years ...... and outlived the local FD she would have nominated in a funeral plan. xD 

Ha! Good, sounds like she chose well. I'm not sure I like the idea of a funeral plan. I say buy your coffin in the sales when there aren't many folk dying or leave a pile of cash somewhere.

Edited by Carl Fimble
comma
Link to comment
Share on other sites

Thanks. Have had a read and there doesn't seem to be anything particularly odd or any terms that seem very restrictive and the company does appear to be sound.

Link to comment
Share on other sites

11 hours ago, Miss S said:

Is it cheaper to have a humanist service/weaved coffin rather than go down the standard route?  Can you prebook I wonder?

Cardboard coffins are the cheapest IIRC.  You can pre-book if you know it is likely to happen soon. I saw a TV programme with a terminally ill lady who was doing just that - sorting out all of her funeral arrangements a few weeks in advance (obviously she didn't know the exact date, but had sadly small window). 

Link to comment
Share on other sites

My dad had a Golden Charter account , when he died they paid out without fuss. It did help massively knowing that we didn't have to pay for his funeral. The only catch is that his plan covered the basics only, ie if you want any extras such as a nicer hearse or bigger flowers you needed to pay. 

I never normally bother with insurances but I'd probably get one of those later in life. 

Link to comment
Share on other sites

Wight Flight
On 4/19/2017 at 12:50, DTMark said:

My mother surprised me by buying a funeral plan to cover the costs when she passes on.

She has given me the documents to read and wants to know if there are any 'gotchas' or things that she ought to be aware of.

I'm having a scan through them now trying to pick out anything relevant.

The way this appears to work is that you nominate the funeral director at the inception of the plan. My first question, therefore, is what happens should said FD go bust. The answer to that may be forthcoming in the Ts and Cs.

However are there any points I should be paying attention to, e.g. sharp practice, exclusions, etc.? The company is called "Golden Charter". Grateful for any pointers or advice.

Just make sure you get the free pen.

Link to comment
Share on other sites

  • 2 weeks later...

I'm arranging a Viking burial. Haven't told the Mrs yet as I want it to be a surprise. I just hope she's good with a bow and flaming arrow.

  • Agree 1
Link to comment
Share on other sites

Happy Renting

I have a Funeral Plan.

This is it:

1. Dig hole.

2. Put me in coffin.

3. Put me and coffin in hole.

Everyone is free to have my Funeral Plan if they want it.

  • Agree 1
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...