Funeral Planning Services, a leading pre paid funeral plan provider since 1995, has published a guide on how to save money when purchasing a funeral.
Long Stratton, Norfolk -- (SBWIRE) -- 12/20/2013 -- It is an unfortunate fact that the average price of a funeral is rising faster than inflation every year. In 2004, the average funeral director’s fee was £1920, however by 2012 it had risen to £3284, an increase of 71%, and is expected to balloon to £4906 by 2017.
The result is that many people who do not save for their funeral in the correct way will be left paying significant sums for their funeral when required. It is an unfortunate fact that many savings methods such as ISAs and savings accounts, and financial products marketed towards paying for funeral fees such as over 50s plans do not offer a way to cut funeral fees.
Such financial products do not provide a reliable way to protect against rising costs as they do not freeze funeral costs at today’s prices. This means even if you have several savings plans in place, they may not actually be enough to cover rising costs, which are currently increasing at above the rate of inflation.
Fortunately, pre paid funeral plans offer a way to freeze Funeral Directors fees at today’s prices whenever the funeral is needed.
David Taylor, Marketing Manager at Funeral Planning Services said “We achieve this (freezing funeral fees at today’s prices) through the agreements we have with thousands of Funeral Directors across the UK and the way that we invest a customers’ pre paid funeral funds.”
All funeral plans are invested into the Funeral Planning Trust which is managed by Vestra Wealth. Using a conservative investment strategy the funeral plan grows in value protecting it against inflation. At the time when the funeral is needed the Funeral Director is paid by the Funeral Planning Trust.
“We are proud to publish an annual report so all plan holders and Funeral Directors can see for themselves how the money is being invested and managed.” said David Taylor.
About Funeral Planning Services
Funeral Planning Services are a leading pre paid funeral plan provider working with independent funeral directors across the UK.
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