Martin Lewis was discussing this very subject on the BBC Watchdog program the other week, and his advice seemed to be one of don't bother. Your monthly payments could earn higher interest over the years (Isa). It was also mentioned, that if one payment is missed (for whatever reason?), then you could find that the policy as been cancelled.

The other consideration to these plans, is how the provider offers the plan, because there are a number of variations built into some of the plans, even though the administration is from the same (Axa/Sun Life?) company, but offered by another agency elsewhere (Sainsbury/Argos/ Aged etc?).

With the free gifts offered (approx £50), and the amount that I would consider paying might be a reasonable venture. But should I die in 5 years time or longer, I doubt if the policy would bear enough fruit to cremate me, let alone a burial, unless at sea!.

But looking at the Parkinson's, Hunniford's and a few more pensioner celebrities advertising these products, then they cannot be all that bad, at least its given them some showtime and rewards. But I wonder if any of these same people have taken out one of these policies. I seem to recall one well known person who regular advertised a car insurance, yet if information was correct, the insurance company wouldn't cover them, for some reason?.

I can't see how these these things are of much use.

I paid in advance for my parents funerals and for my wife and myself too.

My parents have gone now and all that had to be done was one phone call.... it'll be the same for us when the day comes. I'm fairly certain that this is the most cost effective way and am absolutely certain that it is the least painful way for all concerned at a time of sorrow.

Well my plan is simply to be an over 50 (the alternative being what it is!)

WTM

"the interest can drop to a very low rate."

Of course it can, but the essence here is long term. We're not looking to make a quick buck.

I was`using my own case as an example.

Had ISAa been around when I was 50, twenty four years ago, I'd have been receiving some very good interest rates for the majority of the life of the ISA.

Interest rates` won't stay low for ever.