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Golden Leaves Funeral Plans Spain |
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Written by Lorraine Harris
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Treat yourself to something a little different this Christmas!
With Christmas almost upon us and New Year just around the corner, many of us start to think about planning for the future. But in these increasingly uncertain times, more and more people are starting to put plans in place not just for the rest of their life, but for the end of their life, too—by planning their funerals many years before they expect to die. And with the cost of funerals currently soaring in Spain, it’s a great way to ensure your family isn’t hit with an expensive bill when that day finally comes.
There are two main options to choose between: a funeral insurance policy and a pre-paid funeral plan.
A funeral insurance policy simply ensures that funds are available to pay for your funeral. You pay a monthly premium and your family gets a lump sum when you die. These policies have two disadvantages, however: they may not guarantee to cover funeral costs in full (particularly if you die early, of course) and they don’t allow you to specify the actual funeral arrangements.
If you’re considering one of these you should also check when the policy comes into effect. Some only take effect after two years if you’re above a certain age. Also, you may need a medical and will usually be asked to complete a medical questionnaire. Finally, be aware that if you are in reasonably good health, you may end up paying more in premiums than the policy will actually pay out.
The alternative to insurance is a pre-paid funeral plan whereby you plan, and pay for, your funeral at today’s prices and the money is invested on your behalf--ideally in an independent trust fund that protects your money (even if the funeral planning company goes bust).
With this kind of scheme, you can plan your funeral down to the last detail including what hymns and music you’d like. On your death, the trust fund simply releases the money to the funeral director. There should be no additional cost to your family and you are guaranteed the funeral you’d like. It’s a popular option for people who want to protect their families from the additional grief (and expense) of having to organise your funeral.
Choosing the funeral plan that’s right for you and your family can clearly be a tricky process. Millie Munro, of Golden Leaves, one of the UK’s leading companies in the funeral pre-planning marketplace here in Spain, advises caution:
“It’s important that you choose a company that can guarantee your investment through these difficult financial times and, if you’re living in Spain, that has all the local experience and expertise needed to arrange a Spanish funeral. For example, in contrast with other companies working on the Costa Blanca, Golden Leaves is regulated by its governing body in the UK, the Funeral Planning Authority and subject to stringent rules of conduct. We are also registered with the Ministry of Economics in Spain.”
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