Is my money safe?

April 11, 2022 

The simple and short answer is, yes One Life prepaid funeral plans are safe. 

You may have read in the news about the upcoming new regulations for funeral plan providers and how they invest their customers’ money. For reputable funeral providers protecting their customers’ funds is a priority. That’s why they have secure, independently managed trust funds set up, the way we do.  

When you choose a One Life funeral plan, you can be confident that your money is safe,  protected and there when your family needs it.

How is my money safe with One Life?

The money that you pay for your prepaid funeral plan is placed into our secure, independently managed One Life Trust Fund. This means that no matter what happens, your money is safe and there when the time comes. 

Our Trust Fund is separate and managed by one of the UK’s leading investment managers, Investec and is legally independent from One Life Funeral Planning. Doing things right is important to us, that’s why we make sure to comply with all the terms laid down by the Financial Services Markets Act 2000, the same way that all market-leading funeral plan trusts do.

What does a prepaid funeral plan cover?

Exactly what’s covered in funeral plans will vary from provider to provider, so it’s important that you research a plan before deciding that it’s right for you. 

Unlike some other providers, we guarantee to cover the following without any additional costs:

  • Cremation fees or a £1,200 burial allowance 
  • A simple wood effect coffin 
  • Return of your ashes within 21 days of the service 
  • 24/7 telephone arrangement service 
  • Transportation of the deceased 
  • Doctors fees

Here’s more of a detailed overview. Before taking out any plan, it’s a good idea to use the checklist below:

What don’t you cover?

Although we cover all of the important things for your send-off, there are a few elements you or loved ones will need to think about: 

  • Headstone 
  • Embalming 
  • Special requests such as flowers, memorial, catering and newspaper obituaries 
  • A wake 
  • The cost of removal of pacemakers or prosthetic limbs

Here’s more of a detailed overview of what’s excluded:

One Life funeral plans are some of the lowest costing prepaid funeral plans in the UK. We offer three types of funeral plans, starting at £1,495 or £22.19* a month for a direct cremation. 

We can also help someone who needs a funeral today for £995.

Can I pay in a way that suits me?

Of course you can. We know that everyone has different financial needs, which is why we offer flexible payment options so you can choose to pay in a way that suits you and your budget. 

You can make one lump sum payment, or spread the cost and pay in instalments over six months right through to 240 months.

What happens if I can’t afford to keep up with my payments?

Everyone’s financial situations will change throughout their life – we understand that. If you’re struggling to make a payment, or know that it may not go through, just give us a call. 

We’ll either place your plan on hold for you, or work with you to find a payment solution that’s right for you. 

What happens when my loved ones need the money for my funeral?

When you take out a One Life plan, you’ll receive a personalised welcome pack with all your important information included. Keep this somewhere safe, and let someone close to you know where it is. 

Your money is stored securely in our independently managed trust fund. All that needs to happen when you sadly pass, is one call to our bereavement team. They can reach them on 0333 339 9399. 

How do I arrange my funeral plan?

If you’re ready to put your prepaid funeral plan in place, simply give our friendly team a call on 0333 339 9399.

*£1495 is the cost of a direct cremation including the £200 discount. Offer ends 30 June 2022. £22.19 a month is based on a direct cremation paid over 120 months. Payment plans over 12 months incur a 2.88% instalment fee per annum.

For more information on regulations by the Financial Conduct Authority and why we are supporting this, read the latest statement from our Managing Director

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