Plan providers often claim that a funeral plan is a good idea because it 'freezes' the price of your funeral at its current cost, instead of the price your relatives would pay in the future, when you die. For this reason the price of funeral plans is usually fixed at a price which reflects the cost of your funeral at current prices, presently in the region of $4,000 - $15,000 for a basic or more elaborate funeral package.
Most funeral plan providers will offer a range of different plans; basic plans will usually be inexpensive and cover a standard service, whilst more extensive plans will include additional benefits, such as thank you cards to send to friends and family who attend the service. The more that is included in your funeral plan, the higher the cost will be. If you wish for certain special aspects of your funeral to be covered by your plan, you may be able to negotiate these additions if you agree to pay slightly more.
You will usually pay for your funeral plan in one, one-off payment, but you can also choose to pay for the plan in installments over several months or years. Although the option to pay in installments may be more convenient and helpful in terms of managing your finances, you will usually have to pay a higher price overall and may even have to make an extra contribution to administration fees. If you are over seventy years old, you will typically have to pay the total cost immediately.
