Having to think about your own funeral arrangements can be an uncomfortable process, but thoughtful planning can secure not only your own piece of mind but also the comfort and reassurance that your family will be spared the extra burden at such an emotional and distressing time.
Why Pre Pay?
It makes sense to pay now and deal with the financial side of your funeral in advance as it can save your family a considerable amount of money in the long term. The reason for this being that you will pay at today’s price, not tomorrow's or next year's. Funeral costs have risen dramatically in the last few years according to a survey conducted in 2017, showing that 20 years ago Funeral Directors' fees were £1000, 10 years ago they were £2000 and now they average £4-5000 and there is no sign of it slowing down.
In addition to this we are all living longer, with the avarage life expectancy now reaching 90 - so with Funeral Directors' fees effectively doubling every 10 years - how much will YOUR funeral cost when you reach 90?
With the Government also considering introducing probate fees that will cost the average family £4-8k simply to access the estate a pre-paid funeral plan is essential to protect your loved ones from being put into financial hardship when you pass away.
The plans provided by Silver Clouds ensures your money is invested securely in Trust and audited annually by independant actuaries.
You will be appointed a Funeral Director who is local to you and this can be changed if you move
So how are your funds protected?
100% of the money that you pay for your plan is paid into an independently audited Trust and when combined with all the other plan holders’ funds this sum reaches £millions and these funds are always placed in guaranteed or low risk investments which adds significant amounts of interest and dividends to the “pot” each year which is in turn then itself reinvested and the total within the Trust therefore grows and grows year after year as many clients will not need actually a funeral for decades.
In addition clients paying over 60 or 84 months always pay an admin charge on top of the standard fee (which is included in their repayments and which is quoted at the outset) and all of this is then paid into the Trust and invested also which swells the pot even further.
Silver Clouds' fees are then taken from the “profit” made on those investments - NOT from the fee you pay in.
Only funeral directors registered with the FPA are used and all of them charge the Trust significantly lower fees for their services than they do direct to the public because;
A) They are being given funerals to service that they have not had to pay a penny for in procuring.
B) Are given 100s of instructions a year by the Trust and as with all business there is always a discount given for buying in bulk.
The combination of investment profit and paying Funeral Directors a pre-agreed much lower sum than they charge direct enables the plans we recommend to run successfully in FULL compliance with article 60(1) of the Financial Services and Markets Act 2000 (regulated activities) order 2001.
The Trust is held within an independent account overseen by independent Trustees and independently audited every year to ensure that your money is always safe and everything that you expect to be delivered in the form of service outlined in your plan will be exactly that provided when it is needed.
You can relax when choosing a plan recommended to you by Thy Will Be Done as we have undertaken all the due diligence up front on your behalf so you know that you are getting the lowest priced plans available from a provider that ALWAYS FULLY OUTLINES exactly what is covered and what is not and puts 100% of the fees you pay into an independent Trust 100% of the time.
You don’t have to worry about how old you are because you can apply for any plan at any age, and there are no health or intrusive medical checks to take. You’ll be guaranteed acceptance and be able to have the peace of mind that Silver Clouds plans provide.
We are happy to answer any questions that you may have and are happy to assist you through the whole process to ensure everything is clear and right just for you.
And now the legal bits for your complete protection
Thy Will Be Done (Spain) Ltd and Silver Clouds fully comply with Article 60(1) of the RAO and Silver Clouds guarantees that all sums paid by the customer under the contract will be held on Trust for the purpose of providing the funeral and that the following requirements met with respect to the Trust:
(i) the Trust is established by a written instrument;
(ii) more than half of the Trustees are unconnected with the provider;
(iii) the trustees have appointed an independant fund manager who is an authorised person who has permission to carry on an activity of the kind specified in article 37 of the RAO, and is a person who is unconnected with the provider, to manage the assets of the Trust;
(iv) annual accounts are prepared, and audited by a person who is eligible for appointment as a statutory auditor under part 42 of the Companies Act 2006, with respect to the assets and liabilities of the Trust; and
(v) the assets and liabilities of the Trust are at least every three years, determined, calculated and verified by an actuary who is a Fellow of the Institute of Actuaries or the Faculty of Actuaries