Do you know the difference between Funeral Plans and Over 50s life cover?

Planning ahead is a good idea if you want to ensure your loved ones are protected in the future from rising funeral costs.

The average cost of a funeral today is approximately £3900 so it’s no wonder that more and more people are putting steps in place to pay for their own funeral. But should you purchase a Funeral Plan or take out an over 50’s life insurance policy?

A Funeral Plan is a funeral you can plan and pay for in advance. Anyone over the age of 18 can take out a plan and there is no upper age restriction. However, if you are 80 years of age or older a Pre-Paid plan would need to be paid in full. Planning ahead with the Co-op ensures beating rising funeral costs by paying today’s prices and guaranteeing your loved ones will have nothing extra to pay for services you have chosen.

You have peace of mind that your wishes are clear, meaning less stress and uncertainty for your family and friends. We have a range of affordable payment options including paying in a lump sum or spreading the cost over 2-25 years. You have the choice of selecting one of our set plans, or you can tailor make your plan so it is entirely designed for your needs. If you need to cancel your Funeral Plan with us, you will receive a full refund if it’s within the 30 day cooling off period, and if after the 30 days a full refund minus a cancellation fee of £250. You can find all the details here 

Over-50s life insurance policies allow you to pay a monthly premium and then will pay a lump sum when you die, which can be used by your family to go towards funeral costs. This is generally available to anyone between the ages of 50-80.

The benefit of such a policy is that you have the peace of mind that your family will receive a fixed amount of money when you die. However, there are a few things you should be aware of. The pay-out your family receives is normally a fixed amount and so there is no guarantee that it will cover the full cost of your funeral. Some companies may offer a pay-out linked to inflation so it pays to do your research before you decide. Another point to check is if you will be required to pay the premiums for life, or until you are a certain age. This can make a massive difference in how much you pay into the policy. Finally, there is often no cancellation option – so if you fall behind in your payments, you may lose your cover.

If you’re interested in taking out one of our plans, we’re offering all Silversurfers subscribers a £150 discount* using the code SURF150. Apply online, or call our customer support team on 0800 389 8377, Monday – Friday 8am-9pm, Saturday & Sunday 9am-5pm.

*Total discount includes the online discount and promotional discount.



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27th Aug 2018
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My mother was in a care home when she died during the night. I had told them that if/when it became necessary they should contact the local Co-op Funeral Services. However, in spite of their so called 24hr service, the Home failed to get any reply to their phone calls. They phoned me at 5.30 am to ask which alternative funeral provider they should contact!
I wonder what would happen if a pre-paid plan had been in place? I would be reluctant to take one out in case something similar should happen again! Would my family be faced with having to sue them for the cost of an alternative funeral?
Shove me in the green recycling bin!

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