Funeral Cost increases outpacing savings

Funeral Plans

The national average cost to cover a funeral in 2017 was £4,078, an increase of over 70% in the last decade – a rate way above any return you’re likely to find from any standard savings account. If this trend were to continue, a basic funeral could cost almost £7,000 in 10 years’ time, and over £12,000 in the next two decades.

2025 estimated costs if increases stay the same = £5310
That's just 5 years from now! (South East average already £4469 in 2018)


Peace of Mind

However putting a funeral plan in place does far more than maintain the value of an estate. If a will is challenged in any way by a partner or family member from the past, then probate can be delayed and it may not be possible for your executors to withdraw the necessary funds from your estate to pay for your funeral.

Family members can be spared the strain of finding what will be a significant sum of money should a funeral plan be in place. The last thing they need at a time of heart ache and mourning is the turmoil of finding the money to lay their loved one to rest.

Costs Outpace Savings



Why Prepay today?

As can be seen from the chart if, in 2004, you had put £1920 (then the average cost of a funeral*) into a deposit savings account, then you would have seen this grow to about £2,150** over the following 10 years.

However, over the same period, the average cost of a funeral has increased dramatically to £3,590*.

*Average of quotes for standard cremation and burial arrangements from a sample of UK funeral directors, Sunlife Cost of Dying Report, Mintel 2004/YouGov 2014
**Using average gross Bank and Building Society instant access deposit account rates Aug 2004 – Aug 2014, from Bank of England ref IUMTHAK/IUMB6VK
Past performance is not necessarily a guide to the future.

*** Sunlife Cost of Dying Report

Finding the right plan

In addition to funeral cost considerations, there is also the funeral arrangements. Not everybody thinks to plan ahead and let their family or friends  know what they want to happen with their funeral and again this can be a source of strain and maybe a touch of guilt which can so easily be turned into relief with a funeral plan. Your family and/or friends will know that your send off is as you’d have wished because you’d already taken it in hand.
We provide a funeral planning service which compares a number of providers to identify the one that suits you best, be it from an overall cost point of view or a service point of view or a manner of payment point of view.

Helping you to find the right plan, at the right price with the services you need!
Call: 01794 501 036

Planning ahead for the love of your family

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