There’s guidance online on how to buy a funeral plan for yourself, but what if you have a relative, a partner or someone close to you that you want to help out by purchasing a funeral plan on their behalf? Do you have to be the policy holder to take out a plan? We’re here to answer all your questions on how to go about buying a funeral plan for someone you love.
Why Buy a Plan for Someone Else?
It can be a real comfort knowing that your funeral is paid for, and your wishes are in place for when you die. You may have someone in your life who you want to provide this peace of mind for, so they don’t need to worry about how their loved ones will pay for their funeral. With a funeral plan, your money is protected and held in an independent trust fund until the time comes when the plan is needed.
There are typically payment options available to help spread the cost, making it more affordable. And when the time comes, you only need to make a phone call to start the proceedings of the plan and for the details to be set in motion. Your funeral plan provider will be able to guide you through each stage, assisting you with making any personal touches that the individual would have wanted.
Whether you’re helping someone because they’ve asked for assistance in setting up a plan, you’re acting on the advice of social services, or you just want to get things in order for someone you care about, funeral plans can be a good investment for a number of reasons.
Do I Have to Be the Policy Holder to Take Out a Plan?
The good news is that you can take out a funeral plan for someone else – it doesn’t have to be just for yourself. You may have a partner, a parent or a relative who you want to purchase a funeral plan for to cover the cost of their funeral in the event of their passing. There are different levels of funeral plan, each one designed to appeal to the specific wishes of the individual.
But what all funeral plans have in common is the ability to prevent rising funeral costs from becoming a burden to the loved ones of the person who has passed away. Funeral plans give peace of mind that when the time comes, the family of the deceased will not have to worry about rising funeral costs and inflation, during what will already be a devastating and emotional time.
How Do I Take Out a Funeral Plan for Someone Else?
It’s a good idea to make sure that the person you’re buying for is aware that you’re considering buying a funeral plan for them. However, the process is just as easy and straightforward as if you’re taking out a policy for yourself.
You can research FPA-accredited providers to ensure that the policy is protected and contact the provider for advice and details about what the funeral plan includes. Any communications can then be sent to you or the person who the policy is for, depending on the situation and what best suits the circumstances.
When you’re buying a funeral plan for someone else, you need to be sure you’re choosing a plan that provides the right level of cover for their service. There are several considerations to make, from which funeral director they will want to carry out the service to the type of service they want – a burial or a cremation. For this reason, it can be helpful to discuss these elements of the plan with the person you’re buying it for, to be sure you’re choosing the right plan.
Funeral plans offer numerous benefits, from avoiding the risk of inflated funeral costs to providing peace of mind to your loved ones when you die that the funeral is taken care of. These benefits are understandably something you’ll want for your partner, parents or someone else you care about, which is why many people may choose to purchase funeral plan for another rather than just themselves.