Funeral

A straightforward plan with fast payout, so your loved ones don’t have to worry

Pay money in and on death, it pays an Inflation-linked cash sum direct to the recipient you have named. The cash sum is paid out within 24 hours of a payout request, before probate as it is outside your estate. This ensures loved ones have an inflation-linked cash sum when it’s needed to pay towards a funeral and other associated costs.

It is this straightforward

  • Select the plan amount
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  • Pay by a single payment or by a number of equal monthly instalments
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  • The plan earns inflation-linked interest
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  • On death the inflation-linked cash sum is paid out before probate, direct to the recipient you have nominated

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Save up to 25% compared to Prepaid Funeral Plans

The plan has the benefit of enabling you to deal with the financial aspects now, locking in today’s prices^ and maintains your flexibility and control over future arrangements.
The conventional and most cost effective approach is for a loved one to pay a funeral director directly. This can mean savings of up to 25% compared to the cost of a Prepaid Funeral Plan. Prepaid Funeral Plans include sales commissions and administration fees as well as having many exclusions and conditions.
According to research by The Mail on Sunday, “almost half the money from a prepaid funeral plan can be pocketed in administration fees and commission… someone who puts aside £3,900… might end up with just £2,300 to fund it after £1,600 is gobbled up in charges… the provider might then hand over up to £800 of its cash share as payment to a salesman.”
https://www.thisismoney.co.uk/money/bills/article-4677366/Many-opt-funeral-plans.html
Official published figures show Dignity paid Age UK £9.4 million in commission in 2015 alone.
The savings and benefit of receiving an inflation-linked cash sum can mean for the same cost as a Prepaid Funeral Plan your loved ones are able to pay all associated costs relating to your funeral, not just the elements a Prepaid Funeral Plan would include.
Prepaid Funeral Plans usually exclude the cost of memorial headstones, flowers, catering, venue hire, minister fees, choir fees, organist fees, any notices, order of service sheets, doctor’s fees, embalming, some don’t even include burial plots or crematorium fees. Their conditions can restrict the time and date of your funeral, the funeral director is appointed by the plan provider, so neither you nor your family has any say.
^Yearly interest rate capped at 2.4% p.a.

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Unique benefits of our plan

  • Pay money in and on death the plan pays out a cash sum direct to the recipient you have named.
  • You never pay in more than is paid out.
  • The plan is paid out within 24 hours of a payout request, before probate as it is outside your estate, so it is there when it’s needed.
  • The plan locks in today’s prices as it is inflation-linked.
  • The recipient does not have any rights to the cash sum until your death.
  • You can change the recipient at anytime.
  • You can cash-in your plan at anytime.

Cost and Payout Comparison

Over 50 Life Insurance v Bequest Direct Inflation-linked Cash Plan

Compare SunLife Bequest Direct
Inflation linked payout
Never pay more than paid out
You can cash your plan in
Paid out direct to recipient

Limitations of Prepaid Funeral Plans

See what is excluded in Prepaid Funeral Plans

Select a plan to cover your chosen level of funeral

£1,600
  • Single payment £1,600
  • Pay monthly from £6.67 a month

The Government's Money Advice Service suggests a £1,600 budget to cover a direct cremation.

A direct cremation is typically a simple arrangement:

  • Basic coffin
  • Transportation of deceased
  • Small or unattended ceremony
  • Return of ashes

Select this plan to arrange for a £1,600 Inflation-linked cash sum to be paid to a nominated recipient on your death.

You nominate the recipient during the sign up process.

The savings and benefit of receiving an inflation-linked cash sum can mean for the same cost as a Prepaid Funeral Plan your loved ones are able to pay all associated costs relating to your funeral, not just the elements a Prepaid Funeral Plan would include.

 

Examples of future payout

  • 10 years £1,984
  • 20 years £2,368
  • 30 years £2,752

Assuming 2.4% yearly inflation and paid by single payment.

£2,750
  • Single payment £2,750
  • Pay monthly from £11.46 a month

A Level 1 Prepaid Funeral Plan typically includes:

  • Basic coffin
  • No limousines
  • Direct to the crematorium or burial site
  • Restricted times

Cost of a Prepaid Funeral Plan comparable to this level

  • Dignity £2,895*
  • Co operative £3,295*
  • Golden Charter £2,895*

Select this plan to arrange for a £2,750 Inflation-linked cash sum to be paid to a nominated recipient on your death.

You nominate the recipient during the sign up process.

The savings and benefit of receiving an inflation-linked cash sum can mean for the same cost as a Prepaid Funeral Plan your loved ones are able to pay all associated costs relating to your funeral, not just the elements a Prepaid Funeral Plan would include.

 

Examples of future payout

  • 10 years £3,410
  • 20 years £4,070
  • 30 years £4,730

Assuming 2.4% yearly inflation and paid by single payment.

£3,150
  • Single payment £3,150
  • Pay monthly from £13.13 a month

A Level 2 Prepaid Funeral Plan typically includes:

  • Wood effect coffin
  • No limousines
  • Direct to the crematorium or burial site

Cost of a Prepaid Funeral Plan comparable to this level

  • Dignity £3,295*
  • Co operative £3,595*
  • Golden Charter £3,495*

Select this plan to arrange for a £3,150 Inflation linked cash sum to be paid to a nominated recipient on your death.

You nominate the recipient during the sign up process.

The savings and benefit of receiving an inflation-linked cash sum can mean for the same cost as a Prepaid Funeral Plan your loved ones are able to pay all associated costs relating to your funeral, not just the elements a Prepaid Funeral Plan would include.

 

Examples of future payout

  • 10 years £3,906
  • 20 years £4,662
  • 30 years £5,418

Assuming 2.4% yearly inflation and paid by single payment.

£3,550
  • Single payment £3,550
  • Pay monthly from £14.79 a month

A Level 3 Prepaid Funeral Plan typically includes:

  • Quality coffin
  • One limousine
  • To the service then on to the crematorium or burial site

Cost of a Prepaid Funeral Plan comparable to this level

  • Dignity £3,650*
  • Co operative £3,950*
  • Golden Charter £3,850*

Select this plan to arrange for a £3,550 Inflation linked cash sum to be paid to a nominated recipient on your death.

You nominate the recipient during the sign up process.

The savings and benefit of receiving an inflation-linked cash sum can mean for the same cost as a Prepaid Funeral Plan your loved ones are able to pay all associated costs relating to your funeral, not just the elements a Prepaid Funeral Plan would include.

 

Examples of future payout

  • 10 years £4,402
  • 20 years £5,254
  • 30 years £6,106

Assuming 2.4% yearly inflation and paid by single payment.

£3,750
  • Single payment £3,750
  • Pay monthly from £15.63 a month

A Level 4 Prepaid Funeral Plan typically includes:

  • High quality coffin
  • Two limousines
  • To the service then on to crematorium or burial site

Cost of a Prepaid Funeral Plans comparable to this level

  • Dignity £3,895*
  • Co operative £4,199*
  • Golden Charter £4,099*

Select this plan to arrange for a £3,750 Inflation linked cash sum to be paid to a nominated recipient on your death.

You nominate the recipient during the sign up process.

The savings and benefit of receiving an inflation-linked cash sum can mean for the same cost as a Prepaid Funeral Plan your loved ones are able to pay all associated costs relating to your funeral, not just the elements a Prepaid Funeral Plan would include.

 

Examples of future payout

  • 10 years £4,650
  • 20 years £5,550
  • 30 years £6,450

Assuming 2.4% yearly inflation and paid by single payment.

*Prices correct at 21st May 2019

To see all our Inflation-linked Payable on Death cash plan amounts click here

Our straightforward Payable on Death Plan has considerable benefits compared to Over 50 life Insurance

Over 50 life insurance premiums are paid monthly for life or at least until 90 years old. The longer you live the more monthly payments you would have to pay but the payout stays the same. In real terms the value reduces as inflation rises. They have no cash in value, so if you stop paying you get nothing back.
Compare SunLife Bequest Direct
Inflation linked payout
Never pay more than paid out
You can cash your plan in
Paid out direct to recipient
Tim is £4,000 better off

Tim, 62 from Hull

If Tim takes out a plan at 62 and lives to the UK Office for National Statistics official life expectancy age for a 65 year old man compare what he would pay in and what would be paid out with;
  • SunLife £4,640 Over 50 Life Insurance policy.
  • Bequest Direct £4,500 cash plan.

Illustration assumes a yearly inflation rate of 2.4%.

SunLife

Payment term & amount

£27.00 a month for life

Total paid in

£7,614

Total paid out

£4,640

Bequest Direct

Payment term and amount

£26.78 a month for 14 years

Total paid in

£4,500

Total paid out

£5,526

Robert, from Plymouth

  • Robert selects a £2,750 plan
  • If Robert dies in 20 years time, assuming a 2.4% yearly inflation rate, the plan would pay out £4,070.
  • In Robert’s example he chooses to pay by a single payment.
  • You can choose to pay for a plan by a single payment or by monthly instalments over a period between 1-20 years. You do not pay more by paying by instalments.