What Prepaid plans and Insurance Policies Offer
The Funeral Care Spain Prepaid plan
Insurances usually involve paying a monthly, quarterly or yearly fee up until the death of the insured person. Provided the terms and conditions are correct this is a viable option for someone 50 plus in generally good health with no serious medical issues. A typical premium for a 55 year old would be around 20€uro a month. When death occurs normally a single call to the insurance company will start the whole process and the insured amount will cover all the expenses with nothing else to pay.
These are normally lump sum based, either as a one off payment or over a relatively short period. If death occurs before the premium is paid then the family will be required to pay any amounts due prior to the funeral service proceeding.
Plans are normally suitable for those with pre-existing health conditions or over a certain age, normally 70 years old or thereabouts.
If you are on holiday in Spain and you hold travel insurance you may well find that some or all of the expenses will be covered as part of the cover. However, it is usual to advise the insurance company at the time of death, and then forward the medical death certificate and claim form to them. However it is very rare for the insurer to pay the funeral director direct and often the family will settle the bill and then be reimbursed some weeks later once the claim is approved.
Over 50’s plans
Often advertised on UK television, over fifty insurances will provide a benefit when the policy holder dies, however the payment will normally be several weeks after the funeral has been completed, so it is again quite normal for the next of kin to settle the funeral expenses and then await the payment from the insurer.
Facts to know
Most plan providers and insurers have funeral companies that they work alongside, however, it is the right of the family to choose. If you prefer a certain company to deal with your family then it is your legal right to insist on that point. All insurances show an insured amount (Capital). As long as the funeral director works to, or below that amount then your insurer will settle the bill, however should the expenses rise above, it is normal for the family to pay the difference. To avoid undue stress at the time of funeral it is better to advise the companies in advance and complete the standard forms they will supply to you.
Living In Peace (L.I.P Service) From Funeral Care Spain.
If you are living in Spain with few or no immediate family around you, we can now offer our exclusive bespoke Service L.I.P.
With LIP we can guarantee your wishes will be respected and catered to your needs, so when the time comes there will be no confusion or unnecessary stress to your nearest and dearest.
How it works.
Meet or speak to one of our coordinators, and tell us exactly what you wish to happen in the event of your death.
Our staff will then provide a written quotation for the services you require. This will show item by item the service we will provide to you when required and, the price for the coming year.
Fill in the yearly contract and authorisations. Place our exclusive silver contact pendant around your neck and transfer the amount to our secure client account. Then continue to enjoy life knowing everything is taken care of.
Should something happen, we will advise a pre-determined family contact if required, and then proceed with your wishes. The ashes will be stored until your agreed representative collects them or, scattered respectfully in a pre-determined place.
Every year on the anniversary of your contract we will contact you and provide a revised quotation. At this time you will be given the option to withdraw the amount reserved with us, update the service or continue. Any price rise or reduction will be discussed openly and the amount we hold adjusted accordingly.
Our costs, as with all Funeral Care Spain products are clear and transparent.
Administration fees are 10% of the first years´ funeral costs quoted by us.
Yearly revisions are fixed cost thereafter.
Replacement silver ID necklace 60 euros.
For a funeral package costing 3600 euros our one-off administration fees are 300 euros
(Total first year being 3300 euros)
Yearly contract renewal 50 euros.
Why can’t I just pay an amount once and forget all about it.
Unfortunately in Spain some costs are hard to ´cap´. While we could make predictions on the future as a responsible company we would be forced to take a contingency amount. By having yearly contracts and exit points we can remain extremely competitive to all our clients plus keep contact with our members and continue to supply their precise needs. We do alternatively offer ´one-off´ payment insurance via Ocaso SA. Prices start at around 4000 euros.
Is this a funeral plan?
No, this is a pre-payment system. The money transferred to us is in a secure client account and not invested nor used for any other purpose than for your service when the moment arises. If you require a funeral plan we are happy to discuss our range of Ocaso services or you could contact one of the many registered funeral plan companies operating in your area.
What are the limits of my cover?
Limits are defined at our initial consultation. LIP service is normally specific to a location. Our company services are national to Spain so if required, national cover can be arranged. Outside this area alternative arrangements should be made or a Funeral Plan purchased.
I don’t want a religious service, just a respectful cremation.
Our prices are tailor made to each client. Therefore we only charge for the service you require. The wishes of our clients will always take priority and confidentiality respected.
Why do I have to pay the money to you now?
The LIP service is a complete package designed for those people living abroad who have no immediate family or friends nearby to take care of them in the event of death or, those who want to be sure that a dignified service can take place without causing unnecessary financial distress to their partner or family. Our service enables the contracted client to be easily identified by the authorities, next of kin notified (if requested) and then their chosen service to take place without undue delay.
What happens if my ashes aren’t collected?
We will respectfully store remains for 6 months from the date of cremation. After this time we will arrange a respectful scattering either in a predetermined place or a local place of remembrance.