Funeral Planning Trust Performance Matters
Open Prepaid Funerals Limited provide one of the leading funeral plans in terms of financial performance for funeral directors and that means a lot to us.
It should mean a lot to you the consumer too. But why?
With funeral costs rising dramatically in recent years trust fund performance is of great importance to all involved and as far as we?re concerned it?s down to a combination of economics and moral conscience.
You?ve probably already realised that there are two elements to your funeral plan, the funeral directors services and the disbursements, those elements that the funeral directors, you or us have no control over at all. These disbursements are elements such as the crematorium, ministers and doctors fees.
The funeral directors, when accepting a funeral plan, are entering into a binding agreement with the nominated plan provider that they will provide the funeral service you have specified at the time of need. Their commitment ensures that your family or estate will not be asked for more money for their costs. In short, they will provide your funeral for whatever the plan provider pays them at the time of need.
Due to the funeral directors having no control over the rising costs of disbursements which are often way above inflation there could be an outside chance that your family may have to add a further contribution at the time of need. All funeral plan providers allow for this in their terms and conditions which is only fair.
However, the better the plan performance the better the plan value to the funeral director at the time of need giving them the best opportunity possible to provide your chosen plan within the plan value.
Unlike most other plan providers Open don?t take any additional plan administration fees from the Open Trust Fund charging only the initial plan administration fee of £195 for the life of the plan.
Open was created in 2003 by independent funeral directors to serve independent funeral directors. By taking out and Open Prepaid Funerals Plan you are not only helping your family in the future but helping to support a caring and traditional profession lead by family owned funeral directors across the UK.
- Posted 23rd March 2014