Michael Collis Financial Services

Unit 1, The Balcony,

Accrington Market Hall



07909 522794

Pre-paid Funeral plans


What is a funeral plan?


A question I'm often asked. A funeral plan helps you to plan and pay towards a funeral in advance. It helps to lessen the financial weight of a funeral and reduces the stress and worry for your loved ones.

Why should you take out a funeral plan? The Funeral Plans we recommend are set up so that the monies ar held in a governed trust not by  the funeral directors themselves many of our customers prefer the security of this arrangment.


The Funeral Plan lets you pay for your funeral in advance and at today’s price. It is a way of taking control of the unexpected, setting out the arrangements and limiting the costs by paying for the services included in the funeral plan upfront. It’s practical, sensible and should be an essential part of your end of life financial planning.


In 2018, the average cost of a funeral was £4,078. This is projected to rise to £4,944 by 2022.** By taking out a funeral plan, you can ensure that some of these costs are covered in advance.


Exactly how much of your costs are covered depends on which plan provider you choose, but most providers guarantee to cover the funeral directors costs for arranging and conducting the funeral. This means you can ‘lock in’ these costs at today’s prices, meaning the sooner you take out a funeral plan, the more money you are likely to save.


There are also additional costs associated with a funeral, such as cremation or burial fees. Different plan providers treat them in various ways. For instance, some providers only offer a contribution towards costs associated with cremation and for Burial a contribution that doesn't rise in line with the Retail Price Index. Likewise, some providers can guarantee to cover these costs, while others exclude them completely.


Planning ahead also helps save your friends and family additional worry when you die. A funeral presents a large amount of money for your loved ones to find when you’re gone. With a prepaid funeral plan, you can rest assured knowing that you are helping to reduce the financial burden on your loved ones.