Dying is more expensive than it has been for years, many people are thinking about making suitable financial provision for their funerals. A standard Funeral now costs on average £4,400 having increased year by year for 14 years according to Insurer SunLife. That is a 6% increase from 2018.
According to Telegraph Money, the cost of dying is now rising twice as fast as the cost of living. An over 50 plans are a type of life insurance that require you to pay monthly premiums. When you die, your plan provider pays out a lump sum which can be used to support your family or pay your funeral costs.
But sadly sometimes these plans fall short.
Many people feel unhappy about leaving their bereaved families with the bother of a large funeral bill as well as the stress of organising it all.
Recent figures from the Money Advice Service, show that the cost of a funeral has almost doubled in cost, a funeral with a funeral director now costs around £4,400, this cost can be quite a bit more depending on location and funeral arrangements.
In London, the price of a funeral is almost double the national average. Due to the cost many people are opting for a direct cremation, this is when the body is cremated immediately following the death without a funeral service beforehand, this being the most economical.
Musician David Bowie and Booker Prize winner Author Anita Booker, both chose direct cremation.
Here at Family Matters, we offer tailor-made plans based on your requirements and circumstances.If you would like to discuss this matter further, do contact us, we will be more than happy to help.