Funeral Plan Payment Methods

Last Updated: 15th March 2022

When you pay for your funeral in advance there a choice of payment methods of how to pay.

This guide provides an overview about how each payment method works.

Pay in Full

When you pay for your funeral in 1 payment, payment can be made by credit or debit card; you can also arrange a one off direct debit payment if you wish when you purchase your funeral in advance from Plan with Grace.

There are no additional charges for paying by credit or debit card – Visa and MasterCard are accepted. The majority of funeral plan companies do not accept American Express.

Should you cancel within the cooling off period you will receive a full refund, should you cancel outside the cooling off period you are entitled to your money back less a cancellation or administration fee.

12-month payment plans

The funeral plan companies compared provide a 12 monthly instalment option that does not incur any charges, this means that the total amount payable is the same as the total plan price.

The monthly payments are payable by direct debit, credit card or debit card. A monthly date will be agreed for the monthly payment to be debited. When you purchase a funeral plan from Plan with Grace the monthly payment date can ne on any day between 1st and 28th.

Should you cancel within the cooling off period you will receive a full refund, should you cancel outside the cooling off period you are entitled to your money back less a cancellation or administration fee.

Monthly payments over a fixed term

The funeral plan companies listed on this site that provide a pay if full option also provide a monthly instalment option over a given term.

The maximum term available varies by provider and when you purchase a funeral plan from Plan with Grace the maximum payment term is 10 years, providing the plan is paid in full by your 80 Birthday; this means that if you are 75 yeas old, for example, the maximum payment term would be 4 years.

When you pay over a fixed term you can pay an upfront deposit payment which will reduce the monthly payment amounts. You can also pay off lump sums at any time, during the payment term, to either reduce the term or the monthly payment terms or a combination of the two.

When you pay for a funeral plan over more that 2 years the funeral plan provider will apply an instalment charge the instalment charge varies by funeral plan provider. Plan with Grace charge an instalment charge of 6.5%. This means that the total amount payable will be higher than the funeral plan price because of the additional instalment charges.

Important: If your funeral plan is required before you have finished paying for it your family/estate/next of kin will be required to pay the balance before the funeral plan to be provided if the number of consecutive monthly payments made is less than 24.  When you purchase your funeral plan from Plan with Grace you benefit from the  ‘Plan with Grace Promise’ which means if you die after the first 24 months of your plan, but before all your instalments have been paid, Plan with Grace will still deliver all the services provided in your plan, with no more for your family to pay.

Alternatively your estate can be refunded the amount paid into the funeral plan less the administration fee.

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