Lifetime Estate Planning

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Prepaid Funeral Plans

The cost of a basic funeral has risen for the 14th year in a row. According to the latest AXA Cost of Dying Report funeral costs have risen by 112% since 2004 and they look set to continue at the same rate. The overall Cost of Dying now stands at £8905. A startling fact to note is that over the last decade the price of many things we use every day has risen dramatically – Petrol prices 19.6%; House prices 19.8%; Annual Electricity bills 42.2%; Bread 15.7% but Funeral prices tops the lot at 70.6%!

A Prepaid Funeral Plan is an easy way to choose the funeral you want and fix the cost at today’s prices, protecting against the rising cost of funerals and tailoring your funeral to your own specific requests. A prepaid funeral plan gives you peace of mind and helps remove some of the financial burden and emotional stress from your loved ones whilst they are struggling to deal with their bereavement and have to find the funds to cover your funeral when they are least able to cope.

When you take out a prepaid funeral plan you will have the reassurance that your money is protected. Depending on how you wish to pay for your plan your money will be paid into a Trust or to one of the UK`s leading life assurance companies. Your money grows and, when the time comes, your selected funeral director receives the payment, including any growth, and uses this money to provide your agreed funeral services to your family. No matter how much costs have risen in the intervening period, your loved ones will not be asked for a penny more for the guaranteed services included within your plan no matter how long you live.

There are many alternative ways to pay for prepaid funeral plans and there is a wide choice of providers in the market. Lifetime Estate Planning can guide you through this maze and make a recommendation as to the most appropriate prepaid funeral plan for you.