FUNERAL PLANS

As you may have read this week and last, Funeral plans have taken up a giant slice of FCA time, fixing a problem that no one knew existed.  This led IFAC to check out who exactly sells these plans – and it is a very short list indeed.

A google search shows just Co-op and Dignitas sell them.  The latter have this masterful description on the home page of their website, showing that one large firm anyway doesn’t get their promotions checked at all!

 â€œCan I use Life insurance to pay for my funeral” 

“Life insurance can be used to cover the cost of your funeral but this method can often be unreliable. It is important to remember that with funeral costs rising annually, life insurance policies may struggle to cover all the costs associated with your funeral.”

Oh boy! What sort of life insurance fails to pay out as much as the cost of a funeral? 

For the record, nothing beats life insurance sold by IFAs. 

Written in trust it pays out promptly in nearly all cases, and of course to the trustees, and not to the estate of the deceased.