Funeral Cover
Trusted insurance advice, tailored for you.
Funeral Cover
The average cost of a funeral has increased dramatically over the past decade, and costs are expected to continue to rise.
As a result, you may want to think about how you can pay for your own funeral, so that your family don’t have to worry about how they will foot the bill at what will already be a stressful and emotional time.
There are different products available to help with this so please get in contact with us to discuss it further.
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Who's who?
There are three main parties concerned with a trust. These are as follows:
Usually referred to as the donor or settlor, the ‘plan-holder’ is the individual who has taken out an insurance policy to protect their family and friends should they pass away. It is their responsibility to allocate a trustee and nominate beneficiaries.
As a trustee, you have part ownership of the plan-holder’s policy and therefore have a certain amount of administrative rights. Whilst you cannot personally make any changes to the policy independent of the plan-holder, you may be asked to acknowledge changes they themselves have made. Additionally, it is your role as a trustee to ensure that the terms of the trust are carried out in accordance with the plan-holders wishes, once they have passed away. If you have already been appointed as a trustee and would like to know more about what your role entails, then we’d be happy to talk you through this. Call us today, on 0113 895 0030, where one our advisers will be available to take your call.
The persons who are, or may become, entitled to receive the plan proceeds are called the ‘beneficiaries’. A trustee can also be elected as a beneficiary and discretionary trusts enable changes to be made to beneficiaries if required at a later date.
The Financial Conduct Authority does not regulate taxation and trust advice.
