Prepaid Funeral Plans

Funeral plans – Frequently Asked Questions

What is a funeral plan?

A funeral plan is a way of paying in advance for your own funeral. You can invest a lump sum or pay in instalments – the money is securely invested until the time comes to pay the cost of the funeral.

Why take out a funeral plan?

The main reason is peace of mind, knowing that when the time comes your family will not have the worry of finding the funds to pay for a funeral. It also ensures that your wishes for the type of funeral you would prefer are followed.

Is the money I invest safe and secure?

All plan funds (excluding the plan administration fee) are invested into the Open Prepaid Funerals Trust Fund where it is managed by a board of trustees. The trust fund is a wholly separate entity and independent from Open Prepaid Funerals Limited.

What happens if the funeral director goes out of business?

You can nominate any funeral director and change your appointed funeral director at any time. The plan is not dependent on your appointed funeral director, so should that funeral director go out of business, your plan remains unaffected.

What does a funeral plan cover?

The funeral plan covers the funeral director’s fees (arranging the funeral and legal forms, collection and care at our private facilities, taking care of all the details and our attendance on the day). It also covers the cost of the coffin, transportation, provision of sufficient staff and bearers. There is a specified amount that is a contribution towards third party costs such as crematorium/cemetery fees, doctors’ certificates and officiant.

Crematoria fees change annually and there may be certain additional costs, for example for an out-of-hours collection, however in most cases, our plans will cover most if not all of these costs.

What isn’t covered by a funeral plan?

The plan should cover most fees, however due to variations in fees charged by local authorities for burial plots, the total cost of buying a plot and the interment fee may not be fully covered (each plan has a defined contribution towards third party fees).

Also, should the death occur whilst abroad, the repatriation fees would not be covered by your funeral plan (although your travel insurance policy may include repatriation cover).

Can I pay for a funeral plan in instalments?

You can pay over a number of months, interest free over 12 months or up to 10 years direct debit – a charge is made for instalment payments between 12 and 120 months (enquire for APR) however all of these additional charges are applied to the value of your plan.

Should the death occur before the plan has been paid in full, your estate or relatives would need to pay the balance.

What happens to the plan if I move to another area?

If you move location, please contact us or Open Prepaid Funerals Ltd and they will endeavour to place your plan with a newly nominated funeral director local to your new residence.

Are your funeral plans regulated?

Yes. Our plans are managed by Open Prepaid Funerals Ltd which is registered by the Financial Conduct Authority with Firm reference number 962403 as a funeral plan provider.