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Pre paid funerals

Pre paid funerals

Old Dec 1st 2016, 1:08 pm
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Hi we are looking for a company that does a pre paid one off payment for funerals. Has anyone taken one out recently and how much did it cost. Many thanks.
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Old Dec 3rd 2016, 3:53 pm
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Default Re: Pre paid funerals

Golden Leaves, an international company with a rep in Chiclana (the English car and home insurance business). Current basic pre-paid funeral 3,500 euros approx. with an option to pay in instalments.
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Old Dec 4th 2016, 12:04 pm
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Smile Re: Pre paid funerals

Originally Posted by caroline c View Post
Hi we are looking for a company that does a pre paid one off payment for funerals. Has anyone taken one out recently and how much did it cost. Many thanks.
Hi Caroline, We investigated the same thing last year but the problem is that the companies who do Funeral Insurance may well go bust before you die so we have sorted it out with a local Funeral Director. It costs about 3 to 4 thousand euros at the moment and obviously it will increase so we have just put some money into a savings fund to pay for it and have the Funeral Directors number in our phones. WE have organised all the paperwork necessary like copies of passports etc and have those in a safe place.
Its easier and more reliable than giving money to the insurance companies.
Remember that bank accounts of the deceased are frozen so have an account each and the first thing to do is to transfer the money to the surviving partner. It can be difficult paying bills otherwise.
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Old Dec 4th 2016, 12:23 pm
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Default Re: Pre paid funerals

Originally Posted by chrisjolly View Post
... the problem is that the companies who do Funeral Insurance may well go bust before you die so we have sorted it out with a local Funeral Director. .... so we have just put some money into a savings fund to pay for it ......
Its easier and more reliable than giving money to the insurance companies. ....
That would be my recommendation, for exactly the reason you said.
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Old Dec 4th 2016, 12:38 pm
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Default Re: Pre paid funerals

Originally Posted by chrisjolly View Post
Hi Caroline, We investigated the same thing last year but the problem is that the companies who do Funeral Insurance may well go bust before you die so we have sorted it out with a local Funeral Director. It costs about 3 to 4 thousand euros at the moment and obviously it will increase so we have just put some money into a savings fund to pay for it and have the Funeral Directors number in our phones. WE have organised all the paperwork necessary like copies of passports etc and have those in a safe place.
Its easier and more reliable than giving money to the insurance companies.
Remember that bank accounts of the deceased are frozen so have an account each and the first thing to do is to transfer the money to the surviving partner. It can be difficult paying bills otherwise.
This is what we have done in France. We receive any interest before the time comes/times come, not a company.... Best to have a joint account, to avoid the deceased's account being inaccessible.
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Old Dec 4th 2016, 10:46 pm
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Default Re: Pre paid funerals

Bear in mind that a number of insurance company's offer a policy to cover everything (like Mapfre / Alliance) so may be a better route ?
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Old Dec 5th 2016, 8:16 am
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Default Re: Pre paid funerals

Originally Posted by VFR View Post
Bear in mind that a number of insurance company's offer a policy to cover everything (like Mapfre / Alliance) so may be a better route ?
Our neighbour took one out with a high-street insurance company, paying in monthly premiums for years until her daughter realised that, over the years, she had already paid in more than the cost of a funeral, and was continuing to pay in. She didn't get reimbursed the full amount of what she paid in.....
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Old Dec 5th 2016, 10:50 am
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Default Re: Pre paid funerals

Originally Posted by chrisjolly View Post
Hi Caroline, We investigated the same thing last year but the problem is that the companies who do Funeral Insurance may well go bust before you die so we have sorted it out with a local Funeral Director. It costs about 3 to 4 thousand euros at the moment and obviously it will increase so we have just put some money into a savings fund to pay for it and have the Funeral Directors number in our phones. WE have organised all the paperwork necessary like copies of passports etc and have those in a safe place.
Its easier and more reliable than giving money to the insurance companies.
Remember that bank accounts of the deceased are frozen so have an account each and the first thing to do is to transfer the money to the surviving partner. It can be difficult paying bills otherwise.
But what if the local funeral director goes bust?
Good advice regarding bank accounts I think, so as my wife and I have a joint bank account, in the event of my death would the account be frozen because it's considered to be my account? Would therefore separate accounts be the better option or would the bank be unable to freeze the account because it's in our joint names?
Thanks.

Last edited by Countryboy1; Dec 5th 2016 at 10:56 am.
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Old Dec 5th 2016, 11:02 am
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Default Re: Pre paid funerals

Originally Posted by Biffta View Post
But what if the local funeral director goes bust?
Good advice regarding bank accounts I think, so as my wife and I have a joint bank account, in the event of my death would the account be frozen because it's considered to be my account? Would therefore separate accounts be the better option or would the bank be unable to freeze the account because it's in our joint names?
Thanks.
The freezing of accounts depends not only on the policy of any bank but also on the local manager.

The manager in my bank did not freeze our joint account because he personally did not believe in causing additional stress to the bereaved but he did tell me that it normally could happen.

However, I believe that they only freeze half of a joint account, not sure where I have read that though.

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Old Dec 5th 2016, 11:09 am
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Default Re: Pre paid funerals

Originally Posted by Rosemary View Post
The freezing of accounts depends not only on the policy of any bank but also on the local manager.

The manager in my bank did not freeze our joint account because he personally did not believe in causing additional stress to the bereaved but he did tell me that it normally could happen.

However, I believe that they only freeze half of a joint account, not sure where I have read that though.

Rosemary
Thanks very much Rosemary. The idea of asking at the bank springs to mind, but I think the opinion I receive will only be that which of the person I ask or the manager and that could change. I wonder if there is a bank policy on such matters as you allude to? In which case it still may be a good idea for me to ask and find out what it is.
Thanks again.
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Old Dec 5th 2016, 12:02 pm
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Default Re: Pre paid funerals

None of us know what the future holds for us so even paying the local funeral director can cause difficulties. For example, if one of you becomes too ill for the other to manage their care you may move either to another area where there is more help or to family in another area or another country. Although the original funeral director should by rights repay the money in practice this can take a very long time which may cause unnecessary hardship to the person left behind.

Perhaps one solution is to open an account in each of your names purely for funeral expenses and either pay in an amount to cover a funeral or start to pay in regularly to the accounts. This would be similar to the previous suggestions but you remain totally in control and therefore there should not be any additional difficulties.

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Old Dec 5th 2016, 10:06 pm
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Default Re: Pre paid funerals

Originally Posted by dmu View Post
Our neighbour took one out with a high-street insurance company, paying in monthly premiums for years until her daughter realised that, over the years, she had already paid in more than the cost of a funeral, and was continuing to pay in. She didn't get reimbursed the full amount of what she paid in.....
Of course not it insurance ? and amazed that she recived anything back.

Mine is just under a 100eu a year that covers the lot, so for me that's better than a pre-paid outfit wanting up to 4K as I know the insurance company is likely to still be there when needed.
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Old Dec 5th 2016, 10:48 pm
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Default Re: Pre paid funerals

Originally Posted by VFR View Post
Of course not, it's insurance. and amazed that she received anything back.

Mine is just under a 100eu a year that covers the lot, so for me that's better than a pre-paid outfit wanting up to 4K as I know the insurance company is likely to still be there when needed.
All insurance is a racket, it is only the degree that varies.
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Old Dec 6th 2016, 7:09 am
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As far as I know as soon as the bank knows of a death they are obliged to freeze the account in case there are any taxes to pay. It can take ages to sort out so we have opened two separate accounts in each others name and we can just transfer the money from the joint account into our own. I am sure the last thing you want to do is rush down to the bank but in the end it would save a lot of trouble.
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Old Dec 6th 2016, 8:10 am
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Out of interest, who would notify the bank of a death?
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