Cost Of Dying Rises By Nearly 4%

The average cost of a funeral in the UK has risen by £140 in the last year to £3,702.

It’s hardly the most cheery subject, but updated figures suggest that funeral costs are on the rise, increasing faster than the rate of inflation over the past year. But it’s clear that while £3,702 might seem a reasonably generous budget, it might not be enough to the include things you might consider essential for a dignified send-off.

Funeral director fees, which have risen by 5% in the past year alone, make up the majority of the cost.

Cremations now cost £683 on average and burial fees £1,645. Adding flowers, a headstone and a reception could add another £2,323.

How you can tackle the rising costs?

Talk about it

It is never an easy discussion to have, but talking about funeral wishes with your loved ones can help minimise costs. When asked, most people would prefer a low-cost approach with over a third saying they want their families to spend as little as possible.

Shop around

Dying doesn’t need to be expensive. As with all things, if you shop around you can usually find a better deal. Websites like YourFuneralChoice.com can help you find affordable funeral directors in your local area.

If you do choose to, there are more affordable options out there than the traditional wooden casket.

You can order a basic cardboard version online from just £245, a more exotic banana leaf construction for around £275, or even make your own.

Plan ahead to avoid debt

For many people, cost-cutting is the last thing on their mind when planning a funeral for a loved one.

But in trying to provide a ‘good send-off’, you may put yourself at risk financially. During 2015, the average debt taken on to pay for a funeral was £1,3181.

Cover the cost

A Whole of Life Plan can help take away some of the financial worry for your family or friends. These plans are designed to pay out a specified sum when you pass away (or are diagnosed with a terminal illness). The amount paid depends on the sum assured, you can decide this when you set up your plan.  Planning your own send-off can be difficult, but you may find that taking some time to share your wishes and put plans in place provides peace of mind for you – and your loved ones.