Avalon Funeral Plan. Key Features Document

Transcription

1 Avalon Funeral Plan Key Features Document This document provides a summary of the key features, benefits, and risks of your Avalon Funeral Plan so that you can ensure that it meets your needs. You should read this document in full along with the plan Terms & Conditions and keep them in a safe place. If after reading this document you still have questions, please don t hesitate to call one of our specialist funeral planning advisors FREE on

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3 Avalon Funeral Plan Key Features Document WHAT IS A FUNERAL PLAN? A funeral plan allows you to organise and pre-pay for the services included in your plan in advance of your funeral. What are the aims of a funeral plan? Our funeral plans: (1) protect you and your loved ones against the rising cost of a funeral (2) take the worry away by helping your loved ones to avoid difficult decisions at a stressful time (3) remove the financial burden by ensuring there are no costly funeral bills for your loved ones (4) allow you to plan your funeral to be the celebration of your life that you want it to be Who can buy a funeral plan? All our plans have guaranteed acceptance there are no health questions and no requirement for a medical examination. If you choose to pay in full with a single payment or by monthly instalments you must be 18 or over and you must have made all your instalment payments by the time you reach your 90th birthday. If you choose to pay by fixed monthly payments you must be aged between inclusive and be a UK resident when you purchase your plan. Key Features 3

4 What does my plan include? Features Balmoral Highgrove Windsor Way Attending to all the necessary funeral arrangements Funeral Director s services Conveyance of the deceased to the funeral home within England, Scotland and Wales Advice on certification and registration Preparation and care of the deceased - to include full hygienic treatment as required Use of Chapel of Rest for viewing during office hours Supply of a coffin Basic Quality veneered High quality veneered Provision of a hearse directly to the crematorium or cemetery Following limousines All funeral staff required to conduct the service Full listing of floral tributes X X An allowance towards the third party costs X Your plan guarantees the funeral director s services at no extra cost to you or your next of kin or representative, providing that the funeral is carried out by the funeral director stated on your plan certificate, all payments due on your plan are paid to date and if paying with fixed monthly payments, you have had the plan for at least two years. Your plan also includes an allowance towards third party costs (cemetery/cremation fee, doctor s fees and minister/officiant fees). What does my plan not include? If the allowance for third party costs does not fully cover the cost of them, then the balance will need to be paid by your next of kin or representative If you choose one of our plans for burial, the plan does not include the purchase of a grave plot Additional services that you may have requested but haven t paid for (e.g. memorials, flowers, obituary notices) There may be extra charges at the time of the funeral if your next of kin or representative chooses a funeral director that s not the one shown on your funeral plan certificate If you die outside the UK, the plan does not include the costs of repatriation back to the UK Any costs not covered by your plan must be paid to the funeral director by your next of kin or representative at the time of your funeral. 4

5 How much does my plan cost? We offer a range of plan and payment types to suit your needs. Please refer to our price list for further details. How do I pay for my plan? We offer a range of flexible payment methods. You can choose to pay in full with a single payment, by instalments over a fixed term or by fixed monthly payments until you are 90 or death if earlier. The table below explains the different types of payment methods we offer; when the funeral benefits are available; and what happens if you change your mind: Payment Type In full with a single payment Instalments over a fixed term Fixed monthly payment How do I pay? In full with one lump sum payment by debit/credit card or cheque Deposit by debit/credit card or cheque, and monthly instalments by direct debit over your chosen term Monthly direct debit payable until age 90 or death if earlier How are my payments protected? Secured in a specially designed Trust fund that is separate to the company and managed by independent Trustees Secured in a specially designed Trust fund that is separate to the company and managed by independent Trustees Paid into an individual whole of life insurance policy provided by AXA Wealth Ltd. When are my funeral plan benefits available? On death, available immediately On death after all instalment payments have been made On death after the first two years What happens if I die before the funeral plan benefits are available? Your plan provides the funeral you have chosen immediately Your next of kin or representative can choose to pay the balance outstanding on the plan or cancel the plan and receive a refund less the cancellation charge Your next of kin or representative will receive a refund of all the payments made plus an extra 20% What happens if I cancel the plan within 30 days? Full refund Full refund Full refund What happens if I cancel the plan after 30 days? Refund of all payments made less a cancellation charge of 395 Refund of all payments made less a cancellation charge of 395 No refund Key Features 5

6 Can I choose my funeral director? We have a number of reputable funeral directors to fulfil the funeral arrangements. When you purchase your plan we will allocate a funeral director. If you have a preferred funeral director we will do our best to allocate your plan to them, but this is not always possible. If it has not been possible to allocate your plan to your preferred funeral director we will choose an alternative one for you. If the funeral director we have allocated is not acceptable, just contact us to discuss alternative funeral directors who could provide the funeral. What happens if the funeral director goes out of business? We will re-allocate your plan to a new funeral director free of charge. What happens if Avalon can t provide the funeral I have chosen? We are a Registered Provider of funeral plans with the Funeral Planning Authority (FPA). The FPA pledges to customers that, in the unlikely event of a Registered Provider going out of business, all other Registered Providers shall co-operate and examine ways in which the FPA might help. How do Avalon make sure that my plan will cover my funeral? In line with Funeral Planning Authority rules, all the payments that you make for your plan are placed into either a secure Trust fund or an individual whole of life insurance policy with AXA Wealth Ltd. If you choose to pay in full with a single payment or by monthly instalments the payments are placed into a specially designed Trust that is separate to the company and carefully managed by independent trustees. The investment performance of the funds in Trust is managed by one of the largest and most respected financial firms in the UK. Every year our actuaries perform an actuarial valuation of the Trust to ensure that the fund has the assets needed to meet the future payments to the funeral directors. In the unlikely event that there is a shortfall in the Trust, the company must make good the deficit in accordance with the Trust Deed and Rules. If you choose to pay with fixed monthly payments, your payments are paid into an individual whole of life insurance policy with AXA Wealth Ltd who are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority. The sum assured is used to provide your funeral. Can I change my mind and stop the plan? If you cancel your plan within 30 days we will refund all payments made. If you choose to pay in full with a single payment or by monthly instalments and cancel your plan after 30 days we will refund your payments less a cancellation charge of 395. If you choose to pay with fixed monthly payments and cancel your plan after 30 days there is no refund. 6

7 What happens if my next of kin or representative doesn t use my plan? If you choose to pay in full with a single payment or by monthly instalments and your plan is not found until after your funeral has been arranged, or if your next of kin choose not to use your plan, they can cancel your plan and receive a refund of the payments made less a cancellation charge of 395. If you choose to pay with fixed monthly payments and your plan is not found until after your funeral has been arranged, or if your next of kin choose not to use your plan, they will receive the sum assured from the whole of life insurance policy (or 120% of the payments made if you die in the first two years). Are the plans flexible? If you choose to pay in full with a single payment or by monthly instalments you can add items to the plans for an extra cost, e.g. a church service, flowers, or an extra following limousine. Can I make personal requests for my funeral? Yes, you can make a record of any personal requests that you want to celebrate your life (e.g. songs, brightly coloured clothing for mourners, etc.) and we will pass these on to the funeral director at the time of need. What happens if I move house? You can take your plan with you. Remember to let us know and if necessary we will assign a new funeral director to conduct the funeral. If you let us know before the time of need this is free of charge, but if this is done at the time of need a charge may apply that reflects the costs to re-allocate your plan to the new funeral director. What happens if I move abroad? If you move to one of the European countries in which Avalon operates, you can take your plan with you. Please see our website ( for details of the countries in which we operate. How to contact us To speak to one of our friendly funeral planning specialists call us FREE on (Monday Friday, 9am 5:30pm) info@avalon-trustee.co.uk Write to us at: Avalon, Brooke Court, Lower Meadow Road, Handforth Dean, Wilmslow, Cheshire SK9 3ND 7

8 Avalon Funeral Plans Brooke Court Lower Meadow Road Handforth Dean Wilmslow Cheshire SK9 3ND Avalon Funeral Plans is a trading style of Avalon Trustee Company Limited, registered in England No Registered office: Brooke Court, Lower Meadow Road, Handforth Dean, Wilmslow, SK9 3ND KFD v1.0 WITH FMP