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I don't know how much a small funeral costs in Spain...hear in the UK it costs around £3,000 for a basic one ...so let's say it costs approximately €3,500 in Spain...how many years would you need to pay in to the scheme (scam) before you accumulated enough funds for a basic burial ...at the minummi amount you could pay in. bearing in mind that you have got to pay administration running cost of such a scheme ...I wouldn't mind betting that you would have to pay in around €6,000 or so to get €3,500 out.
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There is enough in the world for everyone, but not enough for the greedy!
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"Scam" is the word. A few months ago I was at a shopping precinct of one of the largest UK urbanisations in Spain and I was approached by a women who wanted to sell me a funeral plan. It was a short conversation.
I reckon nobody in their right mind buys anything from anyone from a cold call off the street, but sure enough I went past her again in my travels and she had her claws into a couple. No doubt during the day she was going to sign up some naïve folk to make her day worthwhile. Well for her, no-one else.
In the UK I've seen TV adverts in the afternoons for Funeral Plans and whilst you know they are rotten deals I've no doubt they are better than these in Spain. For a start they will be heavily regulated by the FCA with "cooling off" periods etc. In Spain they don't seem to know what consumer protection legislation means.
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Don't argue with an idiot, he will drag you down to his level and beat you with experience.
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I have an arrangement with a local funeral directors. If when I die they are contacted they know I want a basic cremation funeral. The agreed price is currently a bit under 3,000€. My family will pay that from money in a bank account which my son and wife have access to
i know that one plan, which uses the funeral director I have my arrangement with, charge over 5,000 €. Thus they would make 2,000€ for just calling the funeral directors and telling them to go ahead and of course they have ones money may be for years, with all the risks of going broke, running off with your money , etc.
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According to http://funeraldirector.org.uk/exposed-the-shocking-truth-that-funeral-plans-are-a-scam/ in the UK
‘’The funeral plans industry is totally unregulated – that means there is no government body overseeing it to make sure it’s fair, there is no-one at all looking out for you – there is NOTHING AT ALL TO PROTECT YOU OR YOUR MONEY.
Anyone – any crook or unscrupulous company could set up offering funeral plans that aren’t worth the paper they’re written on – and nobody can do A THING about it!
This could make the PPI (Payment Protection Insurance) Scandal look like a picnic’’.
Is that true? I don’t know; let someone from the industry tell us different. The public have a right to know, be it UK or Spain.
This message was last edited by Kavanagh on 15/01/2019.
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There is enough in the world for everyone, but not enough for the greedy!
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Costs rise, almost monthly so it seems, not only for funerals but for every day items I cannot fathom out how any funeral plan can agree any price when a person can take a plan out say at 50 / 60 years old and die at about 90 years old, no business in the world could work, or last, running on terms like this, it's still a business that has to make profit to survive, when the end comes it might be no surprise that the actual base costs would have tripled, or more, then the small print would come into play, the world and its wife digest the small print don't they? Honestly can anyone see them paying out?
Just another well thought out con like most things are when it comes to parting with hard earned cash.
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You are absolutely correct baz. The whole scam seems a ‘’ponzi’’ scheme. Some customers in the early days will get a part paid funeral. But when the scammers have milked the market for the maximum money they will be off, never to be seen again. However until that day arrives they have done nothing illegal.
These plans are being sold as a good deal and some sort of money saving scheme. Clearly they are not, but the usual greedy gold diggers are up for it thinking they are getting something for nothing, and nothing is what they are likely to get. Not surprisingly the greedy gold diggers boast to anyone who will listen how smart they are, just as they have in the past. When it all goes wrong its everyone’s fault but theirs.
Whilst ever you have greedy gold diggers wanting something for nothing you will have scammers.
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There is enough in the world for everyone, but not enough for the greedy!
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