Over 50's insurance or prepay funerL question?

[Surfer01]

We are both in our early sixties and on pension credit.

 

Recently we have lost two close friends with one passing away just before Xmas.

 

Although we have no intent for dying just yet, it will happen at some point. You never never know when your time is up!

 

We have looked at some over 50's plans and pre pay funeral plans on the Sun Life website.

 

For £25 per month I get £4545 cover and need to pay until I am 90.

If I die in the next two years no pay out.

 

Similar applies for prepay funeral however they lump in a load of extras that we don't really need.

 

we both want simple funerals without an eulogy, music, people grieving etc. as we do not see any point in it.

Although we are of the Christian faith, as you no longer occupy your body and it is of no use to any one, why not take it straight to the crematorium wrapped in a shroud?

That way no funeral debt is left behind.

 

We are also considering "Whole of life" cover which may be a better option than the Sun Life deals even though you have to pay it monthly for the rest of your life.

 

It seems that for £25 I can get up to £10,000 cover.

 

Are there any other options out there?

[dx100uk]

no savings or bank accounts with about £1500 in?

 

you dont have to have cover

 

and IMHO its a waste of money!

 

so many catches nad you stop it you lose it.

 

typically many pay in £1000's more because you lose if you stop.

 

or the costs come out of your estate.

 

the executors would sort that

 

dx

[Surfer01]

no savings or bank accounts with about £1500 in?

 

you dont have to have cover

 

and IMHO its a waste of money!

 

so many catches nad you stop it you lose it.

 

typically many pay in £1000's more because you lose if you stop.

 

or the costs come out of your estate.

 

the executors would sort that

 

dx

 

We had a look at this site which seems to offer life cover for £10,000 at a reasonable monthly rate of £25 even though the monthly rate is payable until death. After 25 years we would have paid in £7500 and by that time I will be 88! Not sure if I have understood it correctly on Whole of Life cover.

[scaniaman]

Get a quote for pre paid funeral from the CO-OP. We did this for elderly aunt and when died the CO-OP did everything to give her a decent send off. Plans were for minimum funeral right up to expensive, and could be paid up front in full or taken over a 12mth. period interest free. You could in fact pay it up over a longer period but obviously that attracts interest payments.

CO-OP offered to tailor a funeral to aunts requirements and a basic funeral was not expensive.