Is pre-paying for your funeral really a sensible financial decision?

Those of you reading this that have ever had to arrange a funeral for a loved one will know exactly how important it is to put your own wishes down on paper. Leaving your loved ones trying to figure out whether you want to be cremated or buried, or whether you’d prefer a church service or a non-religious civil ceremony etc, will only add to their distress as they grieve your loss. If you have any specific plans for your funeral, such as wanting a natural burial, or your ashes interred/scattered somewhere in particular, then it’s really important you have those conversations with them now, and you write down everything you really want.

This ‘pre-planning’ is one of the most considerate things you can do for the family and friends you are leaving behind. And anyone who has taken out a funeral plan will tell you of the satisfaction gained from putting your affairs in order and reflecting on the most appropriate arrangements.


But what about relieving any financial burden your family might suffer when you die? Does it make sense to pre-pay for your funeral?

The short answer is -‘most definitely’.

Funeral costs increase, on average, a whopping 80% every decade as a result of the year on year inflation for things like disbursements, coffins, venue hire and legal administration etc. Pre-paying for your funeral now means that you pay today’s prices, protecting your family against these rising costs. There are ways, which we discussed in our last blog, that your family could relieve the financial burden of paying for your funeral. But paying for it now, ahead of time, ultimately means you pay less than at the point of need.

What’s more, depending on your financial circumstances, you can choose to pay for your pre-paid funeral plan in one lump sum or spread the cost across monthly instalments. And if you take out a plan with Coles, you have the added reassurance that your money is protected. Depending on how you choose to pay (lump sum or monthly instalments) your money is either paid into the Golden Charter Trust (a separate entity, run by an independent board of trustees, whose sole purpose is to manage the trust’s funds) or one of the UK’s leading life assurance companies. So you have nothing to worry about.

It’s worth noting however that pre-paid plans are available through many providers, not all of which are accredited funeral directors. Some of these less reputable companies hit national headlines during 2019 as they are unregulated and lack expertise when it comes to arranging a funeral that really reflects your wishes. It’s why some people are hesitant about taking out a funeral plan – when in fact, if you take out your plan with an accredited provider, then it’s one of the best financial decisions you can make.

We’re delighted to say that our funeral planning team has 3 times been crowned ‘Funeral Planner of the Year’ by our accreditor, SAIF. And if you decide to take out a plan with us, you can rest assured that we will always take the time to meet with you in the comfort of your own home or at one of our welcoming funeral homes to walk you through every detail of your plan, ensuring it perfectly reflects all your personal choices and funeral wishes.

Experience tells us that it can be very difficult, emotionally, to think about your death and your funeral. Which is why we go through everything at your pace and look at all the options available to you, including:


  • Whether you would like to be buried or cremated
  • The style of funeral you would like and appropriate locations
  • The type of service that suits you, including any religious requirements
  • The wide range of coffins in your budget
  • Any preferences for types of transport
  • Whether you’d like floral tributes or donations to a charity in lieu of flowers
  • If there’s anything you would specifically like to include in the order of service
  • Your favourite music/hymns and poetry/readings that you would like to played or performed
  • Your thoughts on memorial stones and locations
  • Any additional extras such as Will writing

When we’ve been through all the arrangements, we can then calculate the cost of the plan, and if necessary look at ways to reduce the cost if you would like to. We’ll make sure there are never any hidden costs, and we will always work to your budget.

Until this point – no payment has been made, and you are under no obligation to pre-pay. But if you decide to go ahead and secure today’s price, we’ll then set up your payment plan. It’s as easy as that.

A meeting like this with our award-winning Funeral Planning team takes just 1 hour of your time, and the plans start at £1793. Would you like to speak to the Coles team to get your no obligation quote?