In an ideal world, saying goodbye to a loved one is a process filled with remembrance, love, and closure. Unfortunately, in the real world, the financial burden of funeral costs can turn an already painful experience into an unbearable one.
When someone dies the financial responsibility for a funeral typically rests on the shoulders of the deceased’s family and friends. This burden can catch them off guard and become financially unmanageable if prior arrangements have not been made.
A survey conducted by OnePoll on behalf of Ecclesiastical Planning Services revealed that 1 in 5 have experienced financial difficulty due to funeral costs.
Funeral costs have risen significantly in the UK over the last decade, with SunLife’s Cost of Dying Report (2022) showing that the average cost of a burial funeral now stands at £4,92 and a cremation at £3,765 1 . If trends continue, the cost of an average basic funeral could increase to £5,089 by 2026 1 .
Some ways to help ease the financial and emotional toll of funeral costs are:
- Budget-Friendly Options: Families should explore budget-friendly alternatives, like direct cremation or green burials, which can significantly reduce expenses.
- Funeral Expenses: You could get a Funeral Expenses Payment (also called a Funeral Payment) from the DWP if you get certain benefits and need help to pay for a funeral you’re arranging.
- Transparency and Comparison: Families should not hesitate to request itemized price lists from funeral homes and compare prices to find the most affordable options.
- Preplanning: Encouraging individuals to preplan their own funerals can help alleviate the financial burden on their families.
Taking out a pre-paid funeral plan can be an effective way to make financial provision for the cost of a funeral in advance, allowing you to fix your funeral director’s costs and make a contribution towards third party costs. They can also help to protect those who are left behind from footing the entire bill and reduce stress for family and loved ones at an already emotional time.
Our funeral plans are provided by Ecclesiastical Planning Services Limited, which is part of a specialist, UK-based financial services group. Find out more at https://www.ahcheater.co.uk/prepaid-funeral-plans/
Sources:
OnePoll research of 1,000 UK residents aged 50 and above, on behalf of Ecclesiastical Planning Services, October 2022. 1.SunLife (2022), Cost of Dying Report, sunlife.co.uk/funeral-costs.
