Over half a million people in the UK have now taken out a funeral plan, which has grown massively in popularity. Go back 10 years however and this wasn’t the case, with very few people opting for a funeral plan. Let’s take a look at why…
Firstly what exactly is a funeral plan and why do you need it? Naturally your loved ones will want to organise a funeral when you pass away. Funeral plans cover the cost of the funeral and related expenses, which are currently skyrocketing.
Even a modest funeral today can cost at least £3,456. This is before costs for memorials, flowers and catering, which can be over £2,000. As well as estate administration costs that can run well over £2,160. When you add all of this up it means that funeral and related expenses can now exceed £8,000. The government will not pay funeral expenses.
In fact funerals are one of the fastest rising fixed costs in the UK and in the past year alone have risen 5.5% – which is more than double the rate of pensions, inflation and earnings growth!*
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Funeral expenses can be covered by life insurance policies and any money that has been saved. However many people who have passed away have not prepared for the cost, leaving relatives to pay the expenses.
The high funeral costs, which are set to increase, are causing many people to opt for a funeral plan . Here’s why …
Taking out a funeral plan couldn’t be easier. It’s also extremely inexpensive – especially when you consider the useful benefits. Get a quote for a funeral plan in just a few minutes and your information is kept private. As you are simply requesting a quote, there’s no obligation to buy at all.
Receive your free quote by clicking here now or selecting your gender below. The UK’s leading providers offer the coverage & benefits are clearly explained with no “fine print” and surprises. Get expert answers to any questions you have about funeral plans.
* According to SunLife’s Cost of Dying 2016 report.