The price of funerals are rising, and as such the cost of dying has soared, pushing some families into debt just paying for a family member’s farewell. This means that grieving families, who are already trying to cope with the loss of a loved one, also have to worry about borrowing money or getting into debt to pay for the funeral.
The average funeral bill is now over £3,000, and many families simply don’t have that cash lying around if a loved one dies unexpectedly. A fifth of Brits admit to struggling to pay for a funeral and getting into debt. With this in mind, many people are taking out funeral plans to make sure they don’t become a financial burden on their families.
The cost of dying
It can be hard to fathom how passing away can become an expense, but this is the unfortunate reality. Funeral costs add up when you include the fees for a burial or a cremation, the celebrant or minister and funeral directors fees. You can expect to pay thousands more for transport, flowers, a memorial and the venue for the wake. Don’t forget families also have to fork out on hiring legal professionals to administer the estate and handle any leftover financial affairs.
When everything is considered, it’s easy to see how the cost of dying can be a lot more than someone prepared for.
Funeral plans
One of the best ways to plan ahead for the future and ensure your funeral costs are taken care of is with a pre-paid funeral plan. The cost of dying will undoubtedly continue to increase over the years, and taking out a funeral plan is a way to pay a fixed price for your funeral, at today’s prices.
A funeral plan allows you to pay for your own funeral in advance, over a period of months or years. Everything you have paid into a funeral plan will go towards your funeral costs, and your family shouldn’t have to make any financial arrangements unless they wish to pay extra for something not included in the pre-paid plan.
There are many different funeral plans to choose from, some which include more than others, so it’s important to browse all the options and providers. For example, a standard plan will include a basic coffin, care of the body, transport of the body to the funeral directors, burial or cremation fees and a hearse. A more expensive funeral plan may include additional extras such as a headstone and extra funeral cars for the family.
Another benefit of a funeral plan is that you’ll get to include your final wishes. You might not have discussed with your family whether you want to be cremated or buried, and what readings or music you would like at the service. You can include the information in the funeral plan, so they don’t have to make those difficult decisions.
Get in touch with our friendly advisors if you need more information about funeral plans.