What is Martin Lewis’ Advice on Funeral Plans? (2026)
In this article, we'll go over Martin Lewis' advice on funeral plans to help you make an informed decision.
Martin Lewis' Advice at a Glance
A prepaid funeral plan allows you to pay in advance for certain funeral services, helping to lock in today's prices and record your funeral wishes.
What is Martin Lewis' advice on funeral plans?
Martin Lewis, founder of MoneySavingExpert, has long examined funeral plans and their pros and cons.
His advice is widely trusted, but like many financial products, funeral plans are not one-size-fits-all.
What does Martin Lewis say about funeral plans?
Martin Lewis and the team at MoneySavingExpert have a more cautious approach to funeral plans. Rather than recommending them for everyone, they encourage consumers to carefully weigh up the benefits, costs, and alternatives before making a decision.
One of the key points highlighted by MoneySavingExpert is that funeral plans can be worthwhile if they help lock in funeral costs and reduce the burden on family members. This can be particularly beneficial for people who are concerned about rising funeral prices or who want to make sure their wishes are clearly documented in advance.
However, Martin Lewis has also warned consumers not to assume that all funeral plans represent good value. Before buying a plan, it is important to understand exactly what is covered, what exclusions apply, and whether any additional costs could fall to family members later.
MoneySavingExpert generally suggests that funeral plans offer the best value when they are paid for upfront in full or over a short, interest-free payment period. This avoids the additional charges that can significantly increase the overall cost of a plan when payments are spread over many years.
Another area Martin Lewis has highlighted is the importance of comparing providers carefully. Funeral plans can vary in terms of the services included, how third-party fees are handled, and what happens if circumstances change after the plan has been purchased. Reading the terms and conditions and asking questions before signing up can help avoid surprises later.
Since July 2022, prepaid funeral plans have been regulated by the Financial Conduct Authority (FCA), providing consumers with greater protection. This regulatory change addressed many of the concerns that previously existed in the market and means consumers now have stronger safeguards when purchasing a plan from an authorised provider.
Martin Lewis has also pointed out that funeral plans are not the only option available. Depending on personal circumstances, some people may prefer to save money in a dedicated account, while others may choose funeral insurance or rely on existing savings to cover funeral expenses. The right solution will depend on individual financial circumstances and funeral preferences.
Ultimately, the central message from Martin Lewis is that funeral plans should be approached as a practical financial decision rather than an emotional purchase. If a plan provides the funeral you want, is affordable, and comes from a reputable FCA-regulated provider, it may offer valuable peace of mind. If not, alternative ways of setting aside money for funeral costs may be worth considering.
Martin Lewis’ Advice in Detail (Side-by-Side Comparison)
| Category | Martin Lewis' Advice | Explanation |
|---|---|---|
| When they’re worth it | ✅ Pay upfront in full, or within 12 months interest-free | You get the best value by avoiding installment fees. |
| ✅ Your family would struggle to organise or fund your funeral | A plan removes financial and practical pressure at a difficult time. | |
| ✅ There’s unlikely to be enough money left in your estate | The plan ensures essential costs are covered even if your estate is small. | |
| When it’s a grey area | ⚠️ You move house within the UK | Most providers allow a change of funeral director, but fees may apply. |
| When they’re not worth it | ❌ Paying puts you in debt | It makes little sense to borrow or overstretch finances for a funeral plan. |
Funeral Costs: What to Expect
| Funeral Type | Average Cost (2026) | Notes |
|---|---|---|
| Direct cremation (unattended) | £1,628+ | No service, unattended cremation only. |
| Standard cremation | £3,518+ | Includes service and third-party fees. |
| Burial | £4758+ | Varies widely depending on location and burial plot. |
Notes: According to the SunLife Cost of Dying Report 2026, the average cost of a direct cremation is now £1,628 while a simple attended funeral averages £4,758. Burials remain the most expensive option. Once you add send-off costs and professional fees, the total ‘cost of dying’ in the UK has risen to roughly (depending on what you choose) to £5,100+.
Important to Know
• FCA regulation: Since July 2022, all prepaid funeral plans must be regulated by the FCA, giving customers more protection.
• Instalments: Paying monthly can spread the cost but usually adds fees, making the total higher.
• What’s not included: Most plans don’t cover flowers, embalming, catering, or headstones.
• Refunds: Most providers offer a 30-day cooling-off period for a full refund; after that, cancellation fees may apply.
Pros and Cons of Funeral Plans
Based on Martin Lewis's guidance and current FCA regulations, here are some pros and cons of prepaid funeral plans to help you decide what is best for you.
Pros
Cons
In summary
Martin Lewis has consistently highlighted that funeral plans can provide value in the right circumstances, particularly when purchased from a regulated provider and paid for upfront or over a short interest-free period.
The key message is not that everyone should buy a funeral plan, but that consumers should understand exactly what they are buying. Comparing providers, checking exclusions, and understanding the total cost can help ensure the plan meets your needs and offers genuine value for money.
Advertisement
Compare Funeral Plans
Our funeral plan expert’s view
Our view is that funeral plans can be suitable for most individuals, but are not universally the best option. FCA regulation has improved consumer protection significantly, but buyers must still understand what is and is not covered.
Paying upfront or over a short, interest-free term is usually the most cost-effective structure.
Ultimately, suitability should be based on personal finances, estate position, and the desire to reduce the burden on the family.
Ready to get a Funeral quote?
Comparing funeral plans is an important part of finding the right funeral plan that suits your needs and your budget.
So if you're ready to compare quotes. Simply visit our comparison table:
Advertisement