Prepaid Funeral Plans

What is a Prepaid Funeral Plan?

A prepaid funeral plan is a way to pay in advance for the basic services involved in having a funeral. It gives you peace of mind, knowing the costs of your funeral and your personal wishes are guaranteed.

Making plans for your own funeral may feel strange. But it is one of the most helpful things you can ever do for your family. It is all part of life – making financial plans so your family can relax, knowing basic funeral costs are paid and a pre-paid funeral plan gives you peace of mind.

Covering your funeral costs

We often hear from Clients when we mention Funeral Planning that it is a morbid subject, they are not keen to talk about it and just want everything sorted. At Redwood, we know that for those left to deal with arranging a funeral after a death, it can be a stressful and difficult time. We have seen first-hand that having a funeral plan in place can help to lift the burden on the deceased loved ones.

Only 1% of people know exactly what the deceased would have wanted for their funeral.

According to research by SunLife, just 1% of people know exactly what the deceased would have wanted for their funeral. Consequently, Funeral Directors often find themselves in the difficult position where there is an open disagreement between family members as to what their mum, dad, brother or sister, husband or wife would have wanted for their funeral – and then, who is going to pay for it!

Taking out the right funeral plan will ensure that your funeral costs are covered, giving you and your family peace of mind that they are protected from unexpected bills and that they know what your final wishes are. For example, you can specify details such as whether you’d like a religious or non-religious ceremony, the dress code, music, preferred flowers, a final message for your loved ones and, whether you’d like to be buried or cremated.

By making these plans in advance you can ensure that your funeral is a celebration of your life. Aside from making the administration far simpler, it can really help those grieving to know they are respecting the wishes of the person who has died.

It is important to note that not everything is included in a funeral plan. For example, if you decide that you would like to be buried, the cost of the plot will not be included as there is too much regional variation in prices. In addition, the cost of a headstone is not included, again because of the substantial variations in pricing. We can provide a full list of what is included or excluded from each available plan, so you always know what is covered.

Do you work with a dedicated Prepaid Funeral Plan provider?

Yes, Redwood Wills & Trusts are proud to partner with one of the UK’s leading Prepaid Funeral Plan providers, Safe Hands, a trusted, regulated provider of Prepaid Funeral Plans.

Plans available to purchase:

Topaz Plan

£2,390 / £24.97 pcm
Guaranteed to pay all the Funeral Director’s service fees, no matter how much they go up in price.

Pearl Plan

£3,495 / £37.86 pcm
Guaranteed to pay all the Funeral Director’s service fees, no matter how much they go up in price.

Sapphire Plan

£3,795 / £41.36 pcm
Guaranteed to pay all the Funeral Director’s service fees, no matter how much they go up in price.

Ruby Plan

£4,095 / £44.86 pcm
Guaranteed to pay all the Funeral Director’s service fees, no matter how much they go up in price.

Why choose a Prepaid Funeral Plan?

A Prepaid Funeral Plan protects you and your loved ones against the rising costs of funerals. This allows you to pay for your funeral in advance, so your relatives do not have to cover all the costs themselves.

The real benefit of taking out a funeral plan is that you can effectively freeze the cost at today’s prices, meaning your funeral will be protected from future price increases.

How do Prepaid Funeral Plans work?

We have plans available to suit almost every budget, which you can choose to purchase in one go, or to pay in monthly instalments, over a period of up to 10 years.

There is a simple process to follow to get your Prepaid Funeral Plan in place:

Choose your Funeral Plan

When choosing a Funeral Plan, think about your budget, how much you want to spend on the funeral, and the funeral services you would like. You will need to weigh up the pros and cons of each Plan and find out the exact details of what is included, comparing against the rising costs of organising a funeral.

Select your payment option

You will need to decide if you are going to make a lump sum payment or whether you would prefer to pay for the Plan in monthly instalments. A Safe Hands Plan fixes the cost of the funeral services in the Plan at today’s prices, so your loved ones will not have to pay a penny more for these services after you are gone.

Appoint a Nominated Funeral Director

Safe Hands work with thousands of funeral directors nationally. With their Topaz, Pearl, Sapphire, and Ruby Plans, you can nominate a funeral director that you would prefer. This is just a preference as quite sensibly; we want to be sure your family will get the support and services of a Funeral Director who meets our own high standards after you have died.

Personalise your Prepaid Funeral Plan with special requests

Choosing to personalise your Plan with special requests will allow you to arrange a funeral that remembers your life best, helping your loved one’s bid farewell in a unique and touching way. This means your family can avoid the stress of assuming what your funeral wishes would have been.

Set up your Plan

Whether you are buying a plan for yourself or on behalf of your partner or a family member, setting up a Safe Hands Funeral Plan through Redwood is easy. Just call our Award-Winning Team 01489 877 547 for an information pack.

Activating a Funeral Plan

It is important to tell your family that you have a Funeral Plan, so they know how to activate the Funeral Plan when the time comes.

If you have taken your Plan out with Redwood, we will have a record of it on our system, we will update these details in your Estate Planning and we will tell your family or nominated trustees when they contact us about your passing.

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Steve Blofield
Steven Blofield
Steve is the Director and Senior Estate Planner at Redwood Financial. He helps Clients to manage and grow their wealth and protect their estate.
Trusted by our clients

Steve Blofield and his team are excellent! Friendly and helpful advice is readily at hand and has opened my eyes to the importance of estate planning. A brief phone conversation is always followed by a comprehensive email. This firm deserves its awards and excellent reputation.

Nick, Redwood Client

More Frequently Asked Questions

If you die before making your last payment, then we will ask your family or estate to settle the balance before we instruct the funeral director.

That is a simple question with a not so simple answer! The reality is that it all depends on how long you live.

So if you have the money available, or you are comfortable to pay for your Funeral Plan over a 12 months period, then a Prepaid Funeral Plan could be the cheaper option as you are freezing your costs at today’s prices.

If you prefer to stick to a lower monthly budget, but you want cover sooner rather than later, then you may prefer Life Insurance. Either way when it comes to Funeral Planning whether it is Life Insurance or a Prepaid Funeral Plan, our expert advisers at Redwood can help you.

Those who have informally separated at the time of death can still inherit the Estate under the Rules of Intestacy, so as soon as separation occurs, it is important to write a Will if you don’t wish your Estate to go to your separated spouse.

All of our Safe Hands Plans cover every penny of the Funeral Director’s Fees. Our Pearl, Sapphire, and Ruby Plan also include £1,200 towards disbursements (third party costs) and that amount increases annually, in line with CPI. This includes:

  • The cremation or interment fee
  • The Doctor’s fee for arranging the first death certificate
  • The Minister or Celebrant’s fee for holding a service at the crematorium or graveside

The Topaz plan does not include a disbursement allowance – it is a simple plan, designed to give your family peace of mind and cover the costs of a Funeral Director.

Our Direct Cremation Plan is different. There is no service involved in Direct Cremation (although there is a Doctor’s fee and a cremation fee). This plan covers the actual cremation.

The price for a Prepaid Funeral Plan from Safe Hands depends on the Plan type you choose and whether you pay upfront or instalments.

You can review and compare the Plans available here and obtain a quote for each Plan here

Our monthly instalment Plans all start with a deposit of £250. If you pay over 12 months or 24 months, then we will not apply a handling charge. If you prefer to pay over 3, 5 or 10 years a handling charge of 4% will be applied to the instalments.

What does the ‘Handling Charge’ pay for?

Your money goes into trust. The trust is managed carefully to ensure your plan can pay for your funeral – hopefully, many years from now. That money has to be managed carefully.

Safe Hands can absorb the cost of making instalments over a period of up to 24 months, but if there are as many as 120 transactions to process, a 4% Handling Charge to cover the costs involved is applied.

A direct cremation is the least expensive disposition option, as the most expensive purchases—casket, preparing the body, funeral service, extensive transportation—are avoided.

In addition, some funeral homes may charge a lower Basic Services Fee (funeral homes’ non-declinable flat fee) for direct cremation.

Your money goes into trust. This trust is managed by Sterling Trust Corporation Limited, an independent trustee who works with investment fund managers TJM Partnership and Interactive Advisers, who offer bespoke trading and investment management services to high net worth clients, companies and intermediaries and whose service is facilitated by a strategic partnership with Jarvis Investment Management and Britannia Global Markets Limited to make sure your money is well looked after and kept safe.

The Trust Safe Hands use is independent, so there is nothing to worry about. In the highly unlikely event that something happened to Safe Hands, your money would still be safe, and the trustees will ensure that your Funeral Plan is delivered when the time comes.

Yes, there are elements of your Estate Planning you can do yourself, but the risk in doing so is having legal documents which are incorrectly drafted and executed. Invariably any mistakes or errors in someone’s DIY planning do not come to light until it is too late, when someone loses mental capacity or dies. At that point, it can cost your loved one’s thousands of pounds in legal and court fees fixing these errors retrospectively. In the worst-case scenario doing it yourself could lead to your Estate paying more Inheritance Tax, not less. That is why we always recommend seeking professional advice in this important area of planning.

Many of our Clients like to spend their later life overseas and from time to time some may, unfortunately, pass away in a foreign country. The costs of repatriating someone’s body are considerable and are not covered by the Prepaid Funeral Plans provided by Safe Hands.

However, provided your body is returned to the UK, then Safe Hands will arrange for the funeral you have paid for.

If your funeral is going to happen outside the UK, then the Safe Hands Funeral Plans will provide a sum equivalent with the amount that would have been paid to a UK based funeral directors. This will be paid directly to an overseas funeral director.

However, there is no guarantee that this amount will cover all of the funeral costs of an overseas funeral director’s fee.

The Safe Hands Funeral Plans will ensure your body is collected and taken to a chapel of rest that is local to wherever the funeral is to take place. Transport costs over 25 miles are charged at the Funeral Director’s standard rate at the time.

A Will dictates who should receive what from the division of your assets when you die, based on your documented wishes. Estate Planning ensures that your assets are protected from the unforeseen risks that often reduce the value left in your Estate and your family’s Inheritance.

Estate Planning is a comprehensive look at your entire Estate, understanding the makeup of your assets, making sure your Estate is structured in the most tax efficient way, whilst maximising your tax reliefs, protecting against Long Term Care Fees, Inheritance Tax, Divorce, Relationship Breakdowns, as well as reducing the risk of your Will being successfully contested. Typically, it includes planning like Trusts and Lasting Powers of Attorney to protect you during your lifetime, as well as a protective and tax efficient Will and Trust arrangement to deal with your Estate upon your death. These are just some of the key differences between Estate Planning verses just creating a Will.

Yes! We know people’s situations change sometimes and you need the flexibility to change your financial arrangements.

If you need to cancel a plan, then you will receive a full refund as long as you call us within 30 days of buying the plan.

After 30 days, there is an administration fee of £295 charged.

Refunds are not given for plans that are cancelled after your death. All refunds are given at the sole discretion of Safe Hands.

If you do cancel your Plan, make sure you update your family, so they do not think you still have one in place!

A Will dictates who should receive what from the division of your assets when you die, based on your documented wishes. Estate Planning ensures that your assets are protected from the unforeseen risks that often reduce the value left in your Estate and your family’s Inheritance.

Estate Planning is a comprehensive look at your entire Estate, understanding the makeup of your assets, making sure your Estate is structured in the most tax efficient way, whilst maximising your tax reliefs, protecting against Long Term Care Fees, Inheritance Tax, Divorce, Relationship Breakdowns, as well as reducing the risk of your Will being successfully contested. Typically, it includes planning like Trusts and Lasting Powers of Attorney to protect you during your lifetime, as well as a protective and tax efficient Will and Trust arrangement to deal with your Estate upon your death. These are just some of the key differences between Estate Planning verses just creating a Will.

Yes. We know that a totally unexpected loss can throw families best-laid plans into chaos and so the Safe Hands funeral plans are flexible enough to allow you to transfer them to someone else to use.

Each case will be unique, and we hope you never have to amend your funeral plans, but it is reassuring to know that help is there if you need it. Just contact us, tell us what you would like to do, and we will take it from there.

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