Last week we wrote about what you need to know when you are planning a funeral for someone else. That article also applies to when you are planning one for yourself.
This week we want to talk one of the most common questions we get asked about when speaking to customers: what you should look for in a funeral plan provider or funeral insurance company.
This week we want to talk one of the most common questions we get asked about when speaking to customers: what you should look for in a funeral plan provider or funeral insurance company.
Keeping your money safe
With any type of financial investment, one of the first questions people ask is if their money will be safe with that company.
With any type of financial investment, one of the first questions people ask is if their money will be safe with that company.
What you need to look for in a company is a separation between the company and the money you are financially investing in a plan.
Most funeral plan providers set up a Trust Fund where all customer payments go into. This ensures that the money you pay into your plan is safe if something goes wrong with the company.
Some funeral companies offer over 50s funeral insurance where they will purchase an insurance policy in the customer’s name and that ensures the separation between the company and the customer’s payments into their funeral plan.
Transparency and Clarity
Knowing exactly what is and what is not included in your cover or plan is important.
Knowing exactly what is and what is not included in your cover or plan is important.
The company you choose should be able to tell you what you are paying for and what it will cover when it is needed. The company should be able to clearly define what will be entitled to, how much your payments will be, and how long you will be paying your plan or insurance.
You can also ask a funeral plan provider about what possible additional charges can be added on the amount later on before agreeing to take out a funeral plan or funeral insurance. You don’t want hidden charges to put the price up later down the line. More reads http://familyfuneralcare.co.uk/index.php/2018/02/26/funeral-plan-provider-need-know/
