Royal London’s Consumer business has launched a new pre-paid funeral plan, which has been awarded a five star rating from the consumer group, Fairer Finance.
With funeral costs rising above inflation and the average funeral in the UK now costing £3,784, Royal London has a pre-paid plan which allows customers to protect against the risk of rising funeral costs in the future.
Ecclesiastical Planning Services have been chosen as a partner to provide the funeral services selected by the customer.
The Traditional Funeral Plan guarantees to cover the costs of funeral directors’ fees, a coffin, the funeral service, a limousine and cremation or burial costs. Royal London’s plan is an insured product which offers customers protection under the Financial Services Compensation Scheme (FSCS), unlike the majority of funeral plans.
Premiums start from £29 a month and the plan has unique safety features, such as a payment holiday, to help customers if they fall into financial difficulty.
Royal London’s funeral cost expert, Louise Eaton Terry, said: “At a time of mourning, the last thing anyone needs is money worries. Our new funeral plan can help our customers be prepared for the inevitable, without having to leave their loved ones struggling with the cost.”
In addition to the Traditional Funeral Plan, Royal London also offers an Alternative Cremation Plan, providing customers with a lower cost option, from £16 per month, for a direct cremation.