Elderly parents or relatives to care for and/or worry about? This is the place for you.
2 lurkers |
146 watchers
24 Jan
7:13am, 24 Jan 2025
3,528 posts
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Mushroom
I don't really care for the funeral plans. They're designed to make money for the company overall, so there will be losers along the way. @HappyG(rrr) is your mum likely to live another 5 years? If so, you'd be better off stopping the DD on the plan, and paying into a bank account to build up funds to cover the funeral. Better still, if you make it a joint account with you, then the account doesn't get frozen on death, and you can then access the funds to pay fees. It's worth noting that funeral costs (incl other costs - flowers, adverts, wake) are deducted from estate values so the savings account can just be used to cover costs with no IHT issue. |
24 Jan
8:12am, 24 Jan 2025
51,831 posts
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HappyG(rrr)
Thanks Mushroom. I tried suggesting that to her each year for last couple of years. But it's a pride thing. Which is exactly what these unscrupulous companies are praying on, imho.  G
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24 Jan
8:31am, 24 Jan 2025
51,832 posts
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HappyG(rrr)
*preying, not praying, obv
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24 Jan
10:18am, 24 Jan 2025
25,596 posts
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3M
I think the days of "funeral plans" are numbered, but they are about the very worst of the insurance/savings products out there. The FCA will slowly regulate the things out of existence as being unfair, I suspect. @HappyG(rrr), once my mum's LV "whole of Life" policy was paid up she didn't have to keep paying into it to keep it alive. But equally, the value stopped increasing - no additional interest or bonuses added. So although they paid out very promptly, they have had use of her savings for the additional 12 years for free. I think it sounds like you Mum has a straight "Term" policy. No benefits except a payment on death, carefully calculated by the provider to give them a profit in >50% or more of cases. |
24 Jan
10:32am, 24 Jan 2025
54,977 posts
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McGoohan
Breaking news from the Aged Ps. A hospital bed is being delivered today for my FiL which should make the getting him in and out of bed a bit easier. (And also gears up for him being bedbound TBH) Plus, SiL and BiL are going to look at a nursing home today for a) respite care and b) possibly permanent care for FiL. They are then going to gently (!) broach the subject with MiL. Very glad I'm not having to do that. |
24 Jan
10:33am, 24 Jan 2025
61,608 posts
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EvilPixie
This sounds positive
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24 Jan
10:35am, 24 Jan 2025
25,601 posts
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3M
Baby steps forward @McGoohan. Fingers crossed for conversations with MiL.
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24 Jan
10:57am, 24 Jan 2025
79,758 posts
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LipGloss
Hopefully that will ease things Mcg. Dad’s house sale completion is done. Thank goodness- been a long time. Now hopefully the other loose ends can be tied up. |
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24 Jan
11:22am, 24 Jan 2025
51,834 posts
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HappyG(rrr)
My mum is often initially resistant to changes suggested, but comes round a few weeks or months later, in her own time. To be honest, I'm the same myself! (Wonder where I got it from?!) G
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24 Jan
11:26am, 24 Jan 2025
18,383 posts
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jdawayinamanger
Yes it’s worth planting seeds as early as possible. It often takes time for people to come round to new ideas even when young and cognitively capable.
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