Who is the Money Saving Expert and what does he think about prepaid funeral plans?
MoneySavingExpert was founded in 2003 by Martin Lewis. It’s the UK’s biggest consumer website with around 16 million users a month and is known for championing the customer in saving money, finding deals and more recently campaigning for financial justice for the consumer.
Money Saving Expert Martin Lewis provides guidance on funeral plans including pros and cons, when a funeral plan could be worth considering and 6 tips on how to buy one.
Although he offers information on funeral plans and compares some of the market leaders as we do in our independent reviews and comparison section, they do not offer funeral plans themselves.
What does Money Saving Expert say about prepaid funeral plans?
Martin Lewis takes a balanced approach to funeral plans, explaining that while they can be useful in certain situations, they aren’t right for everyone. Rather than promoting them as a one-size-fits-all solution, MoneySavingExpert focuses on helping people understand when they may offer value and when they might not.
According to MoneySavingExpert, a funeral plan could be worth considering if you live in an area where funeral costs are high or if you have the funds available to pay upfront, or over a short, interest-free period. They can also be appealing if you want to reduce the financial and emotional burden on your family, particularly at a difficult time. Another key factor is the expectation that funeral costs will continue to rise, meaning locking in prices now could offer long-term value.
However, Martin Lewis also highlights that funeral plans are not always the best option. For example, if paying for a plan would put you into debt, it may not be a sensible choice. Similarly, if you plan to move abroad or if the plan doesn’t align with your personal funeral wishes, it may not provide the flexibility you need. While it’s considered unlikely, he also notes that if funeral costs were to fall in the future, a prepaid plan may not offer the same financial benefit.
Regulation and Consumer Protection
One of the most important points highlighted by MoneySavingExpert is that the funeral plan market is now regulated by the Financial Conduct Authority.
This means:
- Providers must meet strict standards
- Your money is protected
- Plans are more transparent than in the past
In addition, many plans are covered by the Financial Services Compensation Scheme (FSCS), offering further protection if a provider fails.
As long as you choose an FCA-authorised provider, your money and funeral arrangements are safeguarded.
Compare Funeral Plans
Funeral Plans in 2026: What’s Changed?
The funeral plan market has evolved significantly in recent years and is now far more regulated and widely used than it once was.
- Over 1.8 million people in the UK now have a funeral plan
- Funeral plans are fully regulated by the Financial Conduct Authority (FCA)
- Providers must meet stricter rules around pricing and transparency
This has made funeral plans safer and easier to understand, with fewer risks than in the past.
Funeral plans are no longer a niche product; they are now a mainstream part of later-life financial planning.
Why Direct Cremation Is Growing in Popularity
One of the biggest trends in 2025/2026 is the rise of direct cremation.
- Direct cremation typically costs between £1,500 and £2,000
- Traditional funerals often exceed £4,000
Many people are choosing this option because it is:
- More affordable
- Simpler to arrange
- Flexible, allowing families to hold a memorial at a later date
This shift has also made prepaid funeral plans more accessible, particularly for those looking for a lower-cost option.
What else does Money Saving Expert say?
Martin Lewis states that a funeral plan could be a good idea for some, but not for everyone. If you have the funds available and want to protect your family, a funeral plan could be a good idea. And as plans are not included as part of your estate, they are exempt from inheritance tax.
Some plans however do have limitations you should be aware of, such as the date and time of the service or the funeral directors you are allowed to use
MoneySavingExpert’s Top Tips for Buying a Funeral Plan
If you are considering buying a plan, Martin Lewis offers the following top tips:
- Paying upfront or over a short period if possible, as this is usually cheaper
- Checking whether the plan guarantees all costs or just contributes towards them
- Being aware that extras like flowers, notices and memorials are often not included
- Understanding that burial plots are typically excluded
- Making sure the plan can be transferred if you move location
- Considering lower-cost options such as woodland burials or shared plots
Featured Provider: Memoria Funeral Plans
We work with Memoria, a leading UK funeral plan provider known for its simple, transparent approach and focus on affordable direct cremation.
Why Memoria stands out
- Fully FCA regulated for added peace of mind
- Excellent customer satisfaction ratings
- Offers low-cost direct cremation plans from a competitive price point
- Operates its own crematoria, helping keep costs predictable and controlled
What’s included in a typical Memoria plan
- Collection and care of the deceased
- Cremation services carried out at a Memoria-owned facility
- Simple coffin and professional handling
- Return of ashes to the family
What makes Memoria different
Unlike many providers, Memoria focuses on a no-frills, transparent model, which means:
- No unnecessary add-ons or upselling
- Clear pricing with fewer unexpected costs
- A streamlined process that keeps things simple for families
Because Memoria owns and operates its own crematoria, it has greater control over pricing and service delivery, helping reduce reliance on third-party fees.
Who Memoria is best suited for
- People considering a direct cremation
- Those wanting a lower-cost alternative to traditional funerals
- Families who prefer a simple, fuss-free arrangement
- Anyone wanting to ease the burden on loved ones without overpaying
Memoria is a strong option if you’re looking for a straightforward, affordable funeral plan with clear pricing and no unnecessary extras.
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:
Compare Funeral Plans
Key Takeaway
MoneySavingExpert’s overall view is clear: funeral plans can be a good idea for some people, particularly those who want peace of mind and to protect their family, but they are not always the cheapest option and should be chosen carefully.
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