Martin Lewis’ advice on funeral plans through the Money Saving Expert website provides information and tips on buying a prepaid plan. In addition to reviewing funeral plan costs, whether they are a good idea and security, the guide also includes six important tips to help you choose the right funeral plan for you.
Who is Martin Lewis the Money Saving Expert?
Martin Lewis is a financial journalist, TV personality and founder of the website MoneySavingExpert. He is best known for campaigning for consumer rights and as the name of the website suggests, saving money.
Martin Lewis’ team at Money Saving Expert offer a one page guide on funeral plans. They look at what is included in today’s prepaid funeral plans, whether paying for your funeral in advance this way is worth it and 6 ‘need to knows’ if you're considering buying one.
Money Saving Expert funeral plan pros and cons - is it worth it?
Martin Lewis funeral plan pros
Martin Lewis suggest a funeral plan couldbe worth it if:
You think your family may struggle to organise and pay for a funeral
You don’t think there will be enough money in your estate to pay for a funeral when you die
You live in an expensive area as many national funeral plan providers offer set priced packages regardless of where you live
Funeral costs increase, as you fix costs at today’s prices
Martin Lewis funeral plan cons
Alternatively, he thinks a funeral plan may not be worth it if:
It puts you in debt
You choose an instalment plan that ends up costing more than the funeral
You can’t keep up with the monthly payments
Funeral costs go down, although he adds this is unlikely to happen in the long term
You choose a cheaper funeral plan that doesn’t provide the funeral services you want
You plan to move abroad
Martin Lewis6 funeral plan need to knows
Here are Martin Lewis’ 6 funeral plan need to knows if you’re considering buying one:
A funeral plan can save you money if costs increase as you pay at today’s prices, avoiding future inflation
It’s cheaper to pay for your funeral plan upfront or over 12 months if interest free
It won’t cover all funeral costs such as funeral notices, embalming, the headstone, or a burial plot
Check the plan can be moved to a new local funeral director if you move home and if there are any associated costs
Funeral plans areregulated by the Financial Conduct Authority. This means all plan providers have to be FCA authorised and you have the added protection of the Financial Services Compensation Scheme should the need arise
It may save you money if you share a family burial plot of opt for a woodland burial
Money Saving Expert funeral plan best buys
The Money Saving Expert does not offer any funeral plan best buys and is not able to recommend any providers. However, he does highlight 5 funeral plan providers you may want to consider, all of which offer a nationwide service and fully guarantee the cost of a burial or cremation funeral.
For burials, the Money Saving Expert suggests you may want to consider Dignity and Co-op Funeralcare as both guarantee the cost of the burial. For cremation, Dignity, Plan with Grace and Affordable Funerals guarantee your cremation costs and offer a wide range of plans.
Money Saving Expert offers tips on how to decide whether a funeral plan is right for you, the pros and cons and alternatives however they don’t offer funeral plans themselves.
Does Martin Lewis think it’s smart to prepay your funeral?
Martin Lewis thinks a prepaid funeral plan could be a good idea for some people however, he suggests that if you are thinking of buying one, you read all the documentation first, so you understand exactly what is and isn’t included.
How this site works
Please note: The material on this page is for general information only and does not constitute advice on funeral plans. Simply Funeral Insurance is an independent company and regulated by the FCA for insurance products only. We are not endorsing or recommending the products of any advertisem*nts on this page.
A funeral plan can save you money if costs increase as you pay at today's prices, avoiding future inflation. It's cheaper to pay for your funeral plan upfront or over 12 months if interest free. It won't cover all funeral costs such as funeral notices, embalming, the headstone, or a burial plot.
Martin Lewis states that a funeral plan could be a good idea for some, but not for everyone. If you have the funds available and want to protect your family, a funeral plan could be a good idea.
A. Prepaying spares your survivors the burden of arranging payment. It also keeps you in control of the costs and ensures that your wishes can and will be carried out.
It's for people who want to spare their loved ones from having to make decisions and experience financial stress while grieving. But some experts say these types of plans may end up costing you more than you would pay for an average funeral after fees and other charges have been calculated.
What if I change my mind, can I get a refund? Once you've bought your Prepaid Funeral Plan, you will have 30 days to change your mind. So whether you've paid a deposit or paid in full, your money will be refunded if you cancel with 30 days.
Limited Coverage: Burial insurance policies typically have lower coverage amounts than traditional life insurance, which may not be sufficient for other financial obligations or to provide ongoing support for your dependents.
Funeral directors typically do not receive gratuities. However, it's customary to thank the funeral director with a thank-you note, and by leaving a positive review for the funeral home online.
Many funeral homes will not allow a public viewing unless embalming is performed. It is not a state or federal law that embalming be required. It is only a regulation by certain funeral homes. The regulation exists for many reasons including health safety, liability, and other undesired effects of decomposition.
Once positive identification has been established, no photographs will be produced, displayed, or distributed. Arrangements for viewing a decedent are handled by the funeral home that has been contracted to handle the funeral services, and viewings are carried out at their facility.
It's cheaper to pay for your funeral plan upfront or over 12 months if interest free. It won't cover all funeral costs such as funeral notices, embalming, the headstone, or a burial plot. Check the plan can be moved to a new local funeral director if you move home and if there are any associated costs.
A fraud inquiry has begun into the funeral plan provider Safe Hands, which collapsed leaving thousands of people with lost savings. Some 46,000 people had paid into a fund towards future funeral costs. Its collapse meant pre-paid funerals may not be honoured and some people had paid in instalments up to £4,000.
A Perfect Choice Funeral Plan gives you exceptional financial security for your money. Unlike some plans, every penny of the full value of a Perfect Choice plan (excluding the initial management fee) is held securely in a whole of life assurance policy and ring-fenced to pay for your funeral when the time comes.
If you're worried about leaving your family with funeral costs to cover, then yes funeral plans are worth it. They offer peace of mind, meaning you'll have more time to live your life to the fullest. Learn more about why you should take out a prepaid funeral plan.
If you cannot afford a burial or cremation, you can sign a form with the county coroner's office and the state will bury or cremate the body for you. This will be at no cost, but you won't have any say in where or how.
Introduction: My name is Eusebia Nader, I am a encouraging, brainy, lively, nice, famous, healthy, clever person who loves writing and wants to share my knowledge and understanding with you.
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04th Jul 2023 
Funeral planning 
