It’s a subject that none of us want to think about. It’s morbid, scary and something we want to avoid for as long as possible, but the truth is that every single one of us will die at some point. As awful as it is, every person I’ve spoken to over the last couple of weeks has either been to a funeral, or they are going to one. Whilst they see the grief and emotional side, funerals are actually big business for some, and the costs are rising year on year.
How Much Does a Funeral Cost?
The cost of a funeral very much depends on what you want. Whether you want a cremation or burial, how many cars you need, which casket you choose. There are many variables, but the average cost of a funeral in 2018 was £4,271, and the overall cost of dying (yes that’s a thing!) was £9,204. That is a lot of money which many families simply can’t afford.
What if You Can’t Afford a Funeral?
If You’re On Benefits
If you’re on certain benefits and cannot afford to pay for your loved one’s funeral, you may be able to get a Funeral Payment from the Government. This won’t cover the whole funeral bill though, so you might have to pay up to a third of the cost of a simple funeral. It can help to pay for:
- Death certificates or other documents
- Cremation fees, including the cost of the doctor’s certificate
- Travel to arrange or go to the funeral
- The cost of moving the body within the UK, if it’s being moved more than 50 miles
- Burial fees for a particular plot
- You can also get up to £700 for any other funeral expenses, such as funeral director’s fees, flowers or the coffin.
If you then benefit from that person’s estate (such as their savings), you will have to pay back the money borrowed for the funeral.
If You’re Not On Benefits
If you’re not eligible for the Funeral Payment, the local council or hospital can arrange a Public Health Funeral if:
- There isn’t enough money in the estate to pay for it.
- There are no relatives or friends available to arrange the funeral.
This is usually a cremation. You can attend the funeral but the local authority will decide the time and date. There normally is a short service, but extras such as flowers, cars or notices in the local newspaper are not included.
Protecting Your Loved Ones
Planning a funeral for someone you love can be very distressing. You have to make all of the decisions and try to get everything the way they would’ve wanted it. Then there’s the cost. Many people have no savings at all and simply can’t afford to pay around £5000 for a funeral. If you’re not on benefits, then the bill falls to you – and you want to make sure you give your loved one a send off they deserve. If you invest in a prepaid funeral plan, you can put all of the plans in place and protect your family from this stress in their time of grief.
The Benefits of a Prepaid Funeral Plan
Prepaid funeral plans are something that everyone should have. There are many different plans available so there is a funeral plan to suit every age and budget. A funeral plan means that you can set out your wishes and pay for your own funeral. Here are just a few of the benefits of a prepaid funeral plan:
- It saves your family the burden of planning your funeral: One huge advantage of a prepaid funeral plan is that you will be paying for your funeral yourself. This saves your family the emotional and financial burden of planning your funeral themselves. By pre-planning your funeral, you will not have any worries about your loved ones being burdened in giving you the best send-off.
- It protects you from rising funeral costs: Funeral services can be very expensive. Whilst you can choose to put your money into your savings accounts as a way to help cover your funeral expenses, it will not provide assurance that your family will be protected against the costs that have been rising over the years. Investing in a pre-paid funeral plan now will let you pay today’s prices with the added benefit of a number of flexible and affordable payment options.
- It allows you to plan your funeral according to your preferences: Most prepaid funeral plans allow you to plan your funeral to your own specifications, giving you the freedom to shop around and find the best value for your money.
- It offers you valuable guarantees: With a prepaid funeral plan, you can assure yourself that it will pay the costs agreed for your send-off, even if there have been changes to the economy. As long as the requirements do not change, you will have peace of mind that your family will not be asked to pay more.
- You can spread the costs: Investing in a pre-paid funeral plan now means that you can spread the costs over a longer term – keeping the payments as low as possible.
Get in touch
There are many advantages to a prepaid funeral plan. Please get in touch to talk to us about a plan to suit your requirements and budget. With over 30 years of experience in Estate Planning and Will Writing, we will guide you through the entire process. Thinking about our own demise is never easy, but knowing that we can protect our loved ones from the financial burden and stress is, in my opinion, the right thing to do.