BTWC Ltd Funeral Plans Associate Guide Working in Association with Beneficial Trust & Will Co Ltd P a g e 1
Welcome You have received this pack as you have expressed an interest in working with BTWC Ltd to provide your clients with a comprehensive range of Funeral Plans. Working in partnership with Safe Hands, our highly efficient and tightly controlled operations enable us to charge competitive prices yet maintain the ability to offer outstanding redemption sums to funeral directors. At the same time we re able to pay our agents a highly attractive commission fee of 600. All products outlined in this guide are approved by the National Federation of Funeral Directors the UK s only trade association dedicated to increasing funeral cost transparency and pricing fairness. With so much focus in the media on funeral plans generally and the importance of budgeting for what is, aside from taxes, life s only truly inevitable expense, there has never been a better time to join the many hundreds of other associates who are already enjoying the tremendous benefits of working with us. We hope that the following information is sufficient to answer any questions you may have, but do not hesitate to contact me should you require any further assistance. Trevor Cross Managing Director BTWC Ltd enqu iries@btwc.co.uk Beneficial Trust & Will Co Ltd P a g e 2
What are the Key Features of a BTWC Funeral Plan? One of the UK s most affordable pre-paid funeral plans Maximum financial Security Customers monies are securely invested in a Trust Fund, independent of BTWC and Safe Hands Funeral plans. Monies in the trust are ring-fenced specifically for our customers funerals and cannot be legally or physically accessed at any time or for any reason, except in the event of the Planholders death (or if the customer cancels and is due a refund). UK s fastest growing funeral plan provider Boasting tens of thousands of happy customers nationally, and with over 15m held securely in trust (as of 14/01/2017) Endorsed by the National Federation of Funeral Directors The NFFD is a self-regulated trade body dedicated to increasing funeral cost transparency and pricing fairness, and to the mordernisation of the funeral industry for the benefit of funeral directors and consumers in equal measure. TV Advertising Safe Hands Funeral Plans have been advertised on ITV1, Ch4 and Sky TV (the latter featuring Englands 1966 World Cup winning goalkeeper, Gordon Safe Hands Banks). Further terrestrial TV campaigns are scheduled to take place in 2017. No monthly Instalment Handling Charge on plans paid for over 12 months or 24 months Beneficial Trust & Will Co Ltd P a g e 3
Plans paid for by monthly instalments over 36, 60 or 120 months incur a 4% per month Instalment Handling Charge. The BTWC Funeral Plan Range A comprehensive range of plans are available, all of which can be tailored to suit different tastes, preferences and budgets. Plans can also be adapted for both cremation and burial and can be added to or changed at any time Direct Cremation Plan 1,795 The Direct Cremation plan is the most basic, and therefore the most affordable of our plan options. We understand that no everyone wants an extravagant all inclusive funeral. In response this pared down funeral plan covers the basic simple funeral elements. Topaz Funeral Plan 2,275 Excluding our Direct Cremation option, the Topaz is our most affordable plan option. It includes a funeral service (as well as veneered coffin, hearse, bearers and funeral directors fees) but excludes 3 rd party fees*. Customers who purchase the Topaz plan are welcome to pay 3 rd party fees at a later date. This is the most affordable plan within the inclusive category i.e an allowance towards disbursements/3 rd party fees is included. Covering all the simplest aspects of a cremation funeral including organizing the service at the crematorium, hearse, bearers and veneered coffin. Pearl Funeral Plan 3,355 This plan is ideal for those who have simplicity in mind. Your clients loved ones will have the reassurance of a traditional dignified ceremony with no compromise on the levels of care and attention to detail. Beneficial Trust & Will Co Ltd P a g e 4
Sapphire Funeral Plan 3,595 This plan is the most popular in the range. It includes a high quality lined and veneered coffin and a limousine to transport your clients loved ones to the ceremony. This option also includes unlimited use of the Safe Hands 24 hour support and advice service bringing additional peace of mind to those closest to the plan holder Ruby Funeral Plan 3,900 This plan provides a comprehensive package and is particularly suited to those with very large families, or who expect many mourners to attend. The plan covers 2 limousines, a traditional ceremony including full listings of floral tributes, open visiting hours to the Chapel of Rest, 24 hour support and advice and a choice of top quality rosewood or oak veneered coffins Generating Business By offering great rates of commission, there is an expectation for you to generate your own leads. However, as we expect our websites and strategic partnerships to generate a number of customer enquiries we will share these with you for your geographical area as and when they arise. The funeral planning market is not regulated in the same way as other financial services products therefore you are free to cross-sell other services that you believe are relevant and appropriate for your client. Brochures and application forms will be provided to you and BTWC will check and collate all of your paperwork on your behalf offering an unbeatable single point of contact for your clients Estate and Funeral planning needs. There s also no need to chase commissions, we will do all of that on your behalf. Submitting Your Clients Funeral Plan Application It is your responsibility to ensure paperwork is completed correctly and legibly. This must include; Application form Direct Debit Payment Form (if applicable) Beneficial Trust & Will Co Ltd P a g e 5
Card Payment Form (if applicable) Cheque Payment (if applicable) Clients cheques are to be made payable to Safe Hands Funeral Plans and all documents should be returned (recorded delivery) together with completed application forms to; BTWC Ltd Hillcroft Lodge Hillcroft Business Park Whisby Road Lincoln LN6 3QL If the client chooses to pay for their plan in instalments, a blank direct debit form is provided for you to use. NOTE: only complete the sections that are relevant to the client (the beneficiaries details and plan number will be inserted by Safe Hands). Please return this form together with a cheque/payment for the 250 deposit and the funeral plan application form to the address indicated above Your Commission Whether the plan is paid in full or by instalments, provided you secure a minimum deposit of 250.00 your commission will be paid by BTWC Ltd after 30 days from receipt of correctly completed paperwork. If you do not secure the minimum 250 deposit, your commission will be paid only once we are able to confirm receipt of the clients 3 rd consecutive monthly instalment. If the plan is cancelled within the initial 21 day cooling off period, you will not receive any commission. BTWC funeral plans cancellation rate currently stands at less than 5% (industry standard is approximately 10-20%) Beneficial Trust & Will Co Ltd P a g e 6
BTWC funeral plan commission rates are outlined below; Direct Cremation 125 Topaz 600 Your Simplest 600 Pearl 600 Sapphire 600 Ruby 600 We ve worked hard to ensure the application process is extremely straightforward for you and after completing 1 application form and confirming payment details from your client, we will do the rest! Remember; Commission of 600 per funeral plan Commission paid in full after 30 days* - No Clawback 1 simple application form to complete Take a look over the page for a full breakdown of each of the funeral plan options - We look forward to working with you! Beneficial Trust & Will Co Ltd P a g e 7
BTWC Funeral Plan Options Explained BTWC Funeral Plans offer 6 different plan options to suit all tastes, circumstances and budgets. With the exception of the Direct Cremation and Topaz options, all include an allowance to cover the following 3 disbursements 1) Cremation fee (or interment fee if burial) 2) Doctors Fee 3) Minister/Celebrant Fee. See below for a full explanation of each plan type and what it contains; THE DIRECT CREMATION PLAN Plan Retail Price: 1,795 What is the Direct Cremation plan and what does it include? The Direct Cremation plan is the most basic, and therefore most affordable, of our plan options. Here at BTWC we understand that not everyone wants an extravagant or all-inclusive funeral. To many people, there seems little sense in spending heavily on life s final journey. In response to this, BTWC offer an extremely pared down funeral plan that covers all the most basic funeral elements, as listed below. The Direct Cremation plan includes; Collection of the deceased (in a hearse or ambulance) Care of the deceased (at a chapel of rest, but not necessarily a local one, until the time of the cremation) Basic coffin Transportation of the deceased (in a hearse or ambulance) to the crematorium (not necessarily a local one, depending on availability at the time) Doctor s fees What are the limitations of the Direct Cremation option? There is no service for loves ones to attend/pay their final respects There is no chapel of rest viewing The funeral director, and the crematorium used, may not necessarily be local and are chosen at the sole discretion of Safe Hands Funeral Plans* Plan cannot be adapted for burial *BTWC in association with Safe Hands Funeral Plans will endeavor to use a crematorium that is local to the deceased s last place of residence. However, as there is no service for loved ones to attend, and no viewing (of the deceased) at the funeral director s chapel of rest, there is no necessity for the cremation to conducted at a local crematorium, or for the funeral director to be based in close proximity to the deceased s family. Beneficial Trust & Will Co Ltd P a g e 8
THE TOPAZ PLAN Plan Retail Price: 2,275 What is the Topaz plan and what does it include? The Topaz covers the funeral director s fees and services as listed below ONLY (it does NOT include any allowance for disbursements/3rd party fees): Care and preparation of the deceased A basic, veneered, coffin with nameplate A funeral hearse plus bearers 24 hour transfer of the deceased to funeral home/chapel of rest (within 20 miles*) Organising the funeral service at the crematorium/cemetery Family support and guidance provided by the funeral director Funeral procession from home/funeral home to crematorium/cemetery Time of funeral mutually agreed between funeral director and family Visits to chapel of rest during office hours only *In collecting the deceased and transferring them to the chapel of rest, if the distance covered exceeds 20 miles, then additional mileage costs will be charged in accordance with whatever the funeral director s standard rate happens to be at that time. What are the limitations of the Topaz option? The plan excludes any allowance for disbursements/3rd party fees. Is the Topaz plan fully guaranteed (meaning there will never be anything extra for the Planholder s loved ones to pay)? No. The extent of services covered by the Topaz plan (namely the funeral director s fees and services) ARE fully guaranteed. However, there is no provision/allowance within the Topaz plan towards disbursements (cremation/interment fee, doctor s fee, and minister s/celebrant s fee). These will need to be paid at some point. They can be paid for while the Planholder is still alive, in which case they are paid directly to Safe Hands Funeral Plans and will be charged at whatever our standard disbursements allowance rate happens to be at the time. Alternatively, payment for them can be left until the Planholder s death (but before the funeral takes place), in which case they will be payable directly to the funeral director, by the Planholder s representatives, at whatever the actual rate for each individual element happens to be at that time. If a customer buys a Topaz plan, when, and how, would the disbursements have to be paid? They can be paid for while the Planholder is still alive, in which case they are paid directly to Safe Hands Funeral Plans and will be charged at whatever our standard disbursements allowance rate happens to be at the time. Alternatively, payment for them can be left until the Planholder s death (but before the funeral takes place), in which case they will be payable directly to the funeral director, by the Planholder s representatives, at whatever the actual rate for each individual element happens to be at that time. Can a Topaz plan be adapted for burial? Yes, but the Planholder would need to purchase a burial plot themselves, separate to their plan. And the customer would need to bear in mind that as the Topaz excludes any allowance for disbursements/3rd party fees, that the cost of the interment (digging the grave), the doctor s fee, and the minister s/celebrant s fee for the service at the cemetery, are not included in the price of the plan. Can a Topaz plan be enhanced/customised by adding in additional items? Beneficial Trust & Will Co Ltd P a g e 9
Yes. A Topaz plan can be enhanced/customised at any time, subject to the Planholder paying whatever additional costs are applicable. For example, whether at the time of purchase, or later on once they have purchased their Topaz plan, a Planholder could add a limousine (which the Topaz does not include as standard). THE YOUR SIMPLEST PLAN Plan Retail Price: 2,895 What is the Your Simplest plan and what does it include? This is the most affordable plan with the inclusive category ( inclusive means plans that include an allowance towards disbursements/3rd party fees). Covering all the simplest aspects of a cremation funeral, this plan is designed to help those whose budget is limited secure a quality farewell that minimises the further expenses that those left behind will be required to pay. The plan includes an 800 allowance (note: different to the 1,200 allowance that applies to the other plans in the Inclusive category) towards disbursements/3rd party fees. These are the cremation fee, the doctor s fee, and the minister s/celebrant s fee for the service at the crematorium. The Your Simplest option guarantees that no matter how long you live, there will never be anything further for loved ones to pay towards the funeral director s fees and services below: Care and preparation of the deceased A simple, veneered, coffin with nameplate A funeral hearse plus bearers 24 hour transfer of the deceased to funeral home/chapel of rest (within 20 miles*) Organising the service at the crematorium Family support and guidance provided by the funeral director *In collecting the deceased and transferring them to the chapel of rest, if the distance covered exceeds 20 miles, then additional mileage costs will be charged in accordance with whatever the funeral director s standard rate happens to be at that time. What are the limitations of the Your Simplest plan option? Cremation takes place Monday to Friday, before 10am Cremation only (cannot be adapted for burial) No viewing of the deceased at the funeral director s chapel of rest No limousine(s) Funeral procession travels from the chapel of rest directly to the crematorium (not via relatives homes) Cremation takes place at any crematorium of the funeral directors choosing within a 30 mile radius of the chapel of rest Funeral Director is selected at the complete discretion of Safe Hands Funeral Plans. Why is the disbursements allowance in the Your Simplest option just 800 when the allowance in the Pearl, Sapphire, and Ruby, is 1,200? The disbursements allowance is less in the Your Simplest option because the cremation takes place before 10am (when crematorium fees are much cheaper than they are at other times of the day). Furthermore, with this option the cremation can be carried out at any crematorium within a 30 mile radius of the funeral director s chapel of rest giving the funeral director the opportunity to use one further afield if the fees there are less than they are at the one that s most local. Beneficial Trust & Will Co Ltd P a g e 10
Is the Your Simplest plan option fully guaranteed (meaning there will never be anything extra for the Planholder s loved ones to pay)? The funeral director s fees and services are fully guaranteed, meaning no matter how long a Planholder lives, or whatever the cost of the funeral director s fees and services are when the Planholder dies, there will never be anything further to pay towards this particular element of the plan. However, the disbursements (cremation fee, doctor s fee, and minister s/celebrant s fee) are not guaranteed. So if, at the time of the funeral, the 800 disbursements allowance (+RPI indexed uplift) is insufficient to cover the cost of those 3 elements at that time, then there may be a balance for the family/planholder s representatives to pay. Can a Your Simplest plan option be enhanced/customised by adding in additional items? Yes. A Your Simplest plan can be enhanced/customised at any time, subject to the Planholder paying whatever additional costs are applicable. For example, whether at the time of purchase, or later on once they have purchased their Your Simplest plan, a Planholder could add a limousine (which the Your Simplest plan option does not include as standard). Can the Your Simplest plan option be adapted for burial? No. THE PEARL PLAN Plan Retail Price: 3,355 What is the Pearl plan and what does it include? This plan includes a 1200 allowance to contribute towards disbursements/3 rd party fees. These are the cremation fee (or grave digging fee if burial), the doctors fee and the ministers/celebrants fee for the service at the crematorium. It also guarantees that no matter how long you live, there will never be anything further for your loved ones to pay towards the funeral directors fees and services listed below; Care and preparation of the deceased A simple, veneered, coffin with nameplate A funeral hearse plus bearers 24 hour collection of deceased, and transfer to funeral home/chapel of rest (within 20 miles*) Organising the service at the crematorium (or at the cemetery if burial) Family support and guidance provided by the funeral director Funeral procession from home/funeral home to crematorium (or to cemetery, if burial) Time of funeral to be agreed mutually between funeral director and family Visits to chapel of rest during office hours only *In collecting the deceased and transferring them to the chapel of rest, if the distance covered exceeds 20 miles, then additional mileage costs will be charged in accordance with whatever the funeral director s standard rate happens to be at that time. What is included in the Pearl, that isn t included in the Your Simplest plan option? 1,200 disbursements/3rd party fees allowance (as opposed to the 800 provided in the Your Simplest option) On the journey from the chapel of rest to the funeral service, the funeral procession can, if required, collect loved ones from home Beneficial Trust & Will Co Ltd P a g e 11
Viewing of the deceased at the funeral director s chapel of rest is permitted (during office hours) Crematorium to be the nearest available, and can be agreed between the funeral director and family/deceased s representatives (as opposed to being any crematorium within a 30 mile radius and selected solely at the funeral director s discretion) Customers can, if they so wish, nominate a preferred funeral director Is the Pearl plan fully guaranteed (meaning there will never be anything extra for the Planholder s loved ones to pay)? The funeral director s fees and services are fully guaranteed, meaning no matter how long a Planholder lives, or whatever the cost of the funeral director s fees and services are when the Planholder dies, there will never be anything further to pay towards this particular element of the plan. However, the disbursements (cremation/interment fee, doctors fee and ministers/celebrants fee) are not guaranteed. So if at the time of the funeral the 1200 disbursement allowance (+RPI indexed uplift) is insufficient to cover the cost of those 3 elements at that time, then there may be a balance for the planholders family/representatives to pay. What does a Pearl plan include, that a Topaz plan doesn t? The Pearl plan includes a 1,200 disbursements allowance, whereas a Topaz plan does not include any disbursements allowance. Can a Pearl plan be enhanced/customised by adding in additional items? Yes. A Pearl plan can be enhanced/customised at any time, subject to the Planholder paying whatever additional costs are applicable. For example, whether at the time of purchase, or later on once they have purchased their Pearl plan, a Planholder could add a limousine (which the Pearl does not include as standard). Can a Pearl plan be adapted for burial? Yes, although the Planholder would need to purchase a burial plot themselves (from the cemetery owners/managers) separate to their plan. THE SAPPHIRE PLAN Plan Retail Price: 3,595 What is the Sapphire plan and what does it include? This plan includes a 1,200 allowance to contribute towards disbursements/3rd party fees. These are the cremation fee (or grave digging fee if burial), the doctor s fee, and the minister s/celebrant s fee for the service at the crematorium. It also guarantees that no matter how long you live, there will never be anything further for your loved ones to pay towards the funeral director s fees and services listed below: Care and preparation of the deceased A simple, veneered, coffin with nameplate A funeral hearse plus bearers One following limousine 24 hour transfer of the deceased to funeral home/chapel of rest (within 20 miles*) Organising the service at the crematorium (or at the cemetery, if burial) Beneficial Trust & Will Co Ltd P a g e 12
Family support and guidance provided by the funeral director Funeral procession from home/funeral home to crematorium/cemetery Time of funeral agreed mutually between funeral director and family Visits to chapel of rest during office hours only *In collecting the deceased and transferring them to the chapel of rest, if the distance covered exceeds 20 miles, then additional mileage costs will be charged in accordance with whatever the funeral director s standard rate happens to be at that time. What does a Sapphire plan include, that a Pearl plan doesn t? The Sapphire includes one following limousine, whereas the Pearl does not provide a limousine at all Is the Sapphire plan fully guaranteed (meaning there will never be anything extra for the Planholder s loved ones to pay)? The funeral director s fees and services are fully guaranteed, meaning no matter how long a Planholder lives, or whatever the cost of the funeral director s fees and services are when the Planholder dies, there will never be anything further to pay towards this particular element of the plan. However, the disbursements (cremation/interment fee, doctor s fee, and minister s/celebrant s fee) are not guaranteed. So if, at the time of the funeral, the 1,200 disbursements allowance (+RPI indexed uplift) is insufficient to cover the cost of those 3 elements at that time, then there may be a balance for the family/planholder s representatives to pay. Can a Sapphire plan be enhanced/customised by adding in additional items? Yes. A Sapphire plan can be enhanced/customised at any time, subject to the Planholder paying whatever additional costs are applicable. For example, whether at the time of purchase, or later on once they have purchased their Sapphire plan, a Planholder could add in an additional limousine, meaning the plan would include for 2 limousines rather than the single one that the Sapphire plan includes as standard. Can a Sapphire plan be adapted for burial? Yes, although the Planholder would need to purchase a burial plot themselves (from the cemetery owners/managers) separate to their plan. THE RUBY PLAN Plan Retail Price: 3,900 What is the Ruby plan and what does it include? This plan includes a 1,200 allowance to contribute towards disbursements/3rd party fees. These are the cremation fee (or grave digging fee if burial), the doctor s fee, and the minister s/celebrant s fee for the service at the crematorium. It also guarantees that no matter how long you live, there will never be anything further for your loved ones to pay towards the funeral director s fees and services listed below: Care and preparation of the deceased An oak-effect, veneered, coffin with nameplate A funeral hearse plus bearers Two following limousines 24 hour transfer of the deceased to funeral home/chapel of rest (within 20 miles*) Organising the service at the crematorium (or at the cemetery, if burial) Beneficial Trust & Will Co Ltd P a g e 13
Family support and guidance provided by the funeral director Funeral procession from home/funeral home to crematorium (or to cemetery if burial) Time of funeral agreed mutually between funeral director and family Visits to chapel of rest during office hours only *In collecting the deceased and transferring them to the chapel of rest, if the distance covered exceeds 20 miles, then additional mileage costs will be charged in accordance with whatever the funeral director s standard rate happens to be at that time. What does a Ruby plan include, that a Sapphire plan doesn t? Oak-effect veneered coffin with nameplate (as opposed to the Sapphire s simple, veneered, coffin) Two following limousines (as opposed to the Sapphire s one following limousine) Is the Ruby plan fully guaranteed (meaning there will never be anything extra for the Planholder s loved ones to pay)? The funeral director s fees and services are fully guaranteed, meaning no matter how long a Planholder lives, or whatever the cost of the funeral director s fees and services are when the Planholder dies, there will never be anything further to pay towards this particular element of the plan. However, the disbursements (cremation/interment fee, doctor s fee, and minister s fee) are not guaranteed. So if, at the time of the funeral, the 1,200 disbursements allowance (+RPI indexed uplift) is insufficient to cover the cost of those 3 elements at that time, then there may be a balance for the family/planholder s representatives to pay. Can a Ruby plan be enhanced/customised by adding in additional items? Yes. A Ruby plan can be enhanced/customised at any time, subject to the Planholder paying whatever additional costs are applicable. For example, whether at the time of purchase, or later on once they have purchased their Ruby plan, a Planholder could add an additional limousine, meaning the plan would include for 3 limousines rather than the 2 that the Ruby plan includes as standard. Can a Ruby plan be adapted for burial? Yes, although the Planholder would need to purchase a burial plot separate to their plan. Do you still have some questions? Take a look at our FAQ s on the next page to find out more.. Beneficial Trust & Will Co Ltd P a g e 14
Frequently Asked Questions 1) Why take out a BTWC Funeral plan? Over the last 2 decades, funeral costs have risen in excess of the annual rate of inflation. A funeral plan is a means by which people can protect their loved ones against rising funeral costs and help to eliminate any uncertainty or indecision regarding what a persons preferred arrangements should include. 2) Are BTWC s funeral plans full guaranteed (meaning when the planholder dies, that there won t ever be anything extra for loved ones to pay)? Whilst BTWC s plans guarantee there won t ever be anything extra to pay towards the funeral directors fees and services, when the planholder dies there may be additional costs to pay towards disbursements (also called 3 rd party fees). The Pearl, Sapphire and Ruby options all include a 1200 allowance (and the Your Simplest option includes an 800 allowance) to cover the following 3 disbursements specifically. 1) Cremation fee (or interment fee if burial) 2) Doctors fee 3) Ministers/Celebrants fee for service at the crematorium (or graveside if burial) When the Planholder dies, if the allowance (plus RPI interest uplift) is insufficient to cover the cost of those 3 elements of fee, then the family/planholder s representatives may be required to pay any shortfall before the funeral can take place. In the case of the Topaz, whilst the funeral directors fees and services are guaranteed, this plan excludes any allowance for disbursements/3 rd party fees (these would need to be paid for before the planholders funeral can take place and will be charged at whatever the rate prevailing happens to be at the point they are paid) The Direct Cremation option (which simply covers the actual cremation of the planholders body) is fully guaranteed meaning there will never be anything extra for loved ones to pay. 3) How does a BTWC Funeral Plan work? BTWC Funeral Plans in association with Safe Hands work on the same basis as most other plan providers in that the money a customer pays for their plan is invested in a ring-fenced trust fund (in our case with Pitmans Trustees Ltd). The investment of the Beneficial Trust & Will Co Ltd P a g e 15
trust fund is managed by Swiss global financial service company UBS. Through the investment of the trust fund, the monies grow in value over the course of the Planholders lifetime. When the Planholder passes away, monies (+RPI uplift) are released from the trust fund and paid to a local reputable funeral director who then carries out the funeral in accordance with the instructions contained in the plan. 4) What happens to Planholders monies if BTWC or Safe Hands goes out of business? Because the trust fund is entirely independent of the company, in the highly unlikely event that BTWC or Safe Hands Funeral Plans should go into liquidation or cease trading for any reason, because the trust fund is not an asset of the company (and because the Planholders are the primary beneficiaries of the trust fund) our Planholders investments would remain secure and ring-fenced specifically for the purpose of providing the funeral they have bought and paid for. 5) When a customer buys a BTWC funeral plan, what payment methods and options are available? Single one-off payment (can be paid by debit/credit card, cheque, or bank transfer). 12, 24, 36, 60, or 120 monthly instalments (payable via Direct Debit on 1st or 15th of each month, depending on the customer s preference). 6) What is the Instalment Handling Charge (applicable only to plans paid over 36, 60, and 120 monthly instalments? Where a customer spreads the cost of their Safe Hands Funeral Plan over 36, 60, and 120 months, each instalment takes time to process, both by the company and by the trust into which it is securely invested. The company can absorb that cost where the payment period is up to 2 years, but over a longer period, where there are up to 120 transactions to process, the company needs to apply a small 4% flat monthly Instalment Handling Charge to cover part of that processing cost. 7) Are customers required to pay a deposit? BTWC expect you to secure a minimum deposit of 250 (we can accept a lower deposit, but then you will not receive your Funeral Arrangement Fee until we have confirmed Beneficial Trust & Will Co Ltd P a g e 16
receipt of the customer s 3rd consecutive monthly Direct Debit instalment). 8) What are disbursements or 3 rd party charges? Disbursements (otherwise known as 3rd party charges) are cost elements of a funeral that are outside of the funeral plan provider s/funeral director s control. Most Safe Hands Funeral Plans (except Topaz) include an allowance of 1,200 (Pearl/Sapphire/Ruby) or 800 ( Your Simplest ) to cover the following disbursements specifically: 1. Cremation fee (or interment* fee, if burial) 2. Doctor s fee 3. Minister s/celebrant s fee for committal service at crematorium (or graveside, if burial) *Interment means digging or opening of a grave Currently, the national average for the above 3 disbursement is around 1000, meaning the 1,200 allowance included in the Pearl, Sapphire and Ruby plans is more than adequate to cover them at the present time. If, at the time of the Planholder s death, the disbursements allowance is insufficient to cover the cost of the above 3 elements, then there will be a balance for the family or estate to pay at that time. However, when selling the plan and explaining the disbursements allowance and the fact this element of the plan is not guaranteed, it is important to mention that: a) Of the hundreds of funerals that have been conducted through the BTWC in association with Safe Hands Funeral Plans, there has only been a tiny number of instances where the disbursements allowance has been insufficient to cover the cost of the disbursements; b) Even if the worst came to the worst and at the time of the funeral the disbursements allowance was insufficient to cover the cost of the disbursements, then it would be better for the family to have a small balance to pay, than for them to have the full price of a funeral to find at whatever the full price of a funeral happens to be at that time. 9) Why is the disbursements allowance in the Your Simplest option just 800 when the allowance in the Pearl, Sapphire and Ruby is 1200? The disbursements allowance is less in the Your Simplest option because the cremation takes place on a morning before 10am (when crematorium fees are much cheaper than they are at other times of the day). Furthermore, with this option, the cremation can be carried out at any crematorium within a 30 mile radius of the funeral director s chapel of rest giving the funeral director the opportunity to use one further afield if the fees there are less than they are at the one that s most local. 10) Can customers request additional elements to be added to their plan, over and above Beneficial Trust & Will Co Ltd P a g e 17
the elements that are included as standard? With the exception of the Direct Cremation, all plan options can be enhanced by adding additional/extra items to the specification. However, where additional items are added to a plan, the additional sums paid for them are treated as an allowance towards the relevant item (meaning if, at the time of the Planholder s death, the allowance plus RPI uplift, is insufficient to cover the cost of said additional item as it is at that time, that the Planholder s representatives would need to pay any shortfall). Depending on the nature of the extra items that are to be added to a plan, they may incur an additional charge. Below is a list of the most commonly requested additional items (together with example charges): Wicker or cardboard coffin - 400 Colourful/picture coffin - 400 Floral coffin spray - 275 Additional Bearers - 100 per bearer Church Service - 350 Additional Limousines - 240 per limousine 11) Could a BTWC Funeral Plan be purchased by someone who intends buying a plan for someone who has already passed away? Yes. We refer to plans sold where the actual Plan Holder has already passed away, as an At Need plans. Typically an At Need plan arises where a person tasked with arranging a funeral directly with a funeral director for someone who has just died, somehow encounters our products (perhaps via an internet search) and realises that it might be cheaper for them to buy a BTWC Funeral Plan and use the benefit of it immediately (i.e. at the point of need ), than to arrange the funeral themselves direct with a funeral director. Should a customer wish to purchase a plan At Need, then immediately pass the customer s contact details to BTWC, and we will arrange to then contact the client and make all the necessary arrangements directly. 12) Can a plan be transferred from one person to another? Yes. A BTWC Funeral Plan can be transferred into the name of an alternative person. To do so, the customer simply needs to contact BTWC directly, who will arrange to make the necessary alteration. 13) Do BTWC Funeral Plan customers have to pass a medical? Beneficial Trust & Will Co Ltd P a g e 18
No. Unlike with many insurance products, customers purchasing a BTWC Funeral Plan are not required to pass any medical tests. 14) Are there any age restrictions? Though the person buying the plan must be over 18 years of age, there is no upper or lower age limit in terms of how hold a Planholder must be. However, bear in mind that if you have a customer of advanced years (80+) wishes to pay for a plan by monthly instalments, then it is particularly important they understand that should they pass away before their instalments are paid, that their family/representatives would be required to pay the outstanding balance on the plan before the funeral can take place. 15) When selling BTWC Funeral Plans, what are my responsibilities in terms of making sure customers are of sound mind and have appropriate mental and legal capacity to be making decisions regarding a purchase of this nature? Regardless of whether you are selling a plan over the telephone or via a face-to-face consultation, in all instances you must ask customers to confirm that they are responsible for making their own decisions regarding financial matters and purchases of this nature. You must ask the customer to confirm that they are responsible for making their own financial decisions and that nobody acts as legally appointed attorney for them. Then, provided the customer responds in the affirmative, you must tick the check box on the reverse of the application form accordingly. 16) What happens if a Planholder who is paying for their plan by instalments, passes away before all their instalments have been paid? If a Planholder passes away before all their instalments are paid, the balance of the plan must be paid before the funeral can take place. The way BTWC calculate what the balance payable will be differs according to whether the plan was intended to be paid for over 12 or 24 months (meaning NO monthly Instalment Handling Charge is applicable) or over 36, 60, or 120 months (meaning a monthly Instalment Handling Charge IS applicable). If plan is being paid for over 12 or 24 monthly instalments: the balance will be calculated by deducting the sum already paid towards the plan by the time the Planholder dies, from the price of the plan agreed at the time it was purchased. The balance due will be the difference between these two figures. If plan is being paid over a period of time longer than 24 months: Safe Hands Funeral Plans will calculate the monthly Instalment Handling Charge (at 4% flat rate) over the Beneficial Trust & Will Co Ltd P a g e 19
period of time between the plan being purchased and the Planholder s death. The sum of the monthly Instalment Handing Charge that has been paid, is then added to the net price of the plan (that is to say the cost of the plan excluding monthly Instalment Handling Charge - less any deposit paid) as it was at the time the plan was purchased. This amount will be deducted from the total paid towards the plan at the time of the Planholder s death. 17) What payment options are available? Plans can be paid for by any of the following methods: a single lump sum payment a deposit, followed by 12 monthly instalments (NO INSTALMENT HANDLING CHARGE!*) a deposit, followed by 24 montly instalments (NO INSTALMENT HANDLING CHARGE!*) a deposit, followed by 36 monthly instalments (4% Instalment Handling Charge applies) a deposit, followed by 60 monthly instalments (4% Instalment Handling Charge applies) a deposit, followed by 120 monthly instalments (4% Instalment Handling Charge applies) *Where a customer pays by monthly instalments over 36, 60, or 120 months, Safe Hands Funeral Plans apply a nominal 4% per month (calculated annually) Instalment Handling Charge to cover the cost of administering the monthly instalment transactions for the duration of those 3 particular payment term options. There is no Instalment Handling Charge on plans paid for over 12 or 24 months. 18) How can customers pay for a plan (or pay for their deposit if the plan is being paid for over monthly instalments)? Debit card Credit card (2.5% non-refundable surcharge applies) Cheque (made payable to Safe Hands Funeral Plans or Safe Hands Plans) Bank Transfer 19) If a customer is paying for their plan by monthly instalments, how/when are the instalments paid? Customers monthly instalments are paid by Direct Debit Instruction (DDI) on either the 1st or 15th day of each month, depending on the customer s preference. The Direct Debit Guarantee ensures that customers can reclaim funds that they have paid via the Direct Debit Scheme. The Direct Debit Guarantee allows customers immediate refund where errors include: Taking payment on a date other than the due date Taking payments at a different frequency than agreed Taking payment at a different amount than agreed Taking payment after a Direct Debit Instruction (DDI) has been cancelled Either immediately before, or immediately after, you create a customer s DDI, you are Beneficial Trust & Will Co Ltd P a g e 20
legal obliged to inform the customer of the Direct Debit Guarantee. You can offer to read out the Direct Debit Gurantee to the customer, or you can tell the customer that, alternatively, they can wait to receive a copy of the Direct Debit Guarantee as part of the formal plan certification that they will receive from BTWC in association with Safe Hands Funeral Plans. 20) When can customers expect to receive the formal plan certification (plan paperwork) from BTWC in association with Safe Hands Funeral Plans? After a customer has purchased a plan (or paid a deposit to secure terms on a plan that they are paying for over monthly instalments), normally they can expect to receive their confirmatory paperwork (or formal plan certification) within 7 working days (although in during particularly busy periods it may take up to 14 working days). 21) In the event of the Planholders death, what do the next of kin/representatives need to do? Quite simply, all they need to do is contact Safe Hands Funeral Plans directly on 0800 917 7099 (lines manned 24 hours a day, 365 days a year) who will take care of everything. 22) Can Planholders cancel their BTWC Funeral Plan? Planholders can cancel their Safe Hands Funeral Plan at any point within 21 days from the Plan Effective From date detailed on their formal plan certification and receive a full, noquibble, refund of all monies paid. If the plan is cancelled after 21 days from the Plan Effective From date detailed on the customer s formal plan certification, then the Planholder will receive a refund of whatever monies they have paid towards their plan at the point of cancelation, minus a cancellation charge of 620. Cancellations (and any relevant refunds) will not be processed until Safe Hands Funeral Plans has been notified by the Planholder/Plan Purchaser in writing (by letter or email to cancellations@safehandsplans.co.uk) that they wish to cancel their plan. 23) Is it common for customers of BTWC Funeral Plans to cancel? Beneficial Trust & Will Co Ltd P a g e 21
On the contrary. BTWC in association with Safe Hands Funeral Plans enjoy cancellation rates of around only 5%. Based on anecdotal evidence, we believe the industry standard in around 10-20%. We hope this answers any questions you may have and equips you with everything you need to start highlighting the benefits of BTWC Funeral Plans to your clients. Should you have any further queries, please don t hesitate to get in touch; enquiries@btwc.co.uk 01522 500823 We look forward to working with you! Beneficial Trust & Will Co Ltd P a g e 22