Opening a pre-paid funeral plan for a loved one won’t make losing them any easier, but it can make life more manageable when the time comes to tend to their affairs and say your goodbyes.
How do you open a pre-paid funeral plan for a parent or other loved one?
Getting funeral cover for parents or other loved ones is the same process as opening one for yourself. Each policy will need to have a plan purchaser, who is the person responsible for paying into the account, and a plan holder, who the plan is for.
Depending on the plan provider, funeral policies for parents or other relatives can be opened online, over the phone, or in person at a provider’s local branch.
What details do you need to provide?
As the plan purchaser, you will need to provide your personal details, including your name, address and contact details, and your payment details.
Most providers will only ask for basic information about the plan holder. This typically will include their name, date of birth, address and contact details.
In the majority of cases, the plan holder does not need to undergo a health check or present any medical records.
How many people can pay into a funeral plan?
You will find that most funeral policies only allow for one person, known as the plan purchaser, to pay into the account.
If you want to pay for a loved one’s funeral plan in instalments with another person, you will need to decide who will act as the plan purchaser and channel the money through them.
How many plan holders can a funeral plan cover?
Most pre-paid funeral plans will outline the details of one person’s funeral, so there will only be one plan holder.
Some policies do allow for two plan holders to be named on the same plan. Often referred to as joint funeral plans, they only pay out once and only when the first plan holder passes away.
Should you involve your loved one?
Although your loved one does not have to be involved in the planning of their funeral, there are a number of benefits of including them in this process.
By excluding them, you are unlikely to know the finer details of their funeral wishes. This might mean that the funeral policy you purchase won’t cover all of the costs of the funeral, leaving you to pay for these expenses on top of the funeral plan.
However, some people choose to do this, preferring to make some arrangements after the death of their loved one.
Another possible consequence could be that the plan holder unknowingly opens a second funeral plan. This could prove costly as funeral plans often have cancellation penalties.
Visit our funeral plans page to find out more and contact an independent advisor to help you compare funeral plans for parents.