SunLife Cost of Dying Report
According to the SunLife Cost of Dying Report 2017 (found here), latest research reveals that funeral costs have risen by 10 times the increase in the cost of living, in a year. Average funeral costs are now £4,078, an increase of 5% since last year and have more than doubled in the last 10 years. It also reveals that the overall cost of dying; the funeral itself, the send off and professionals to administer an estate, is also rising.
By increasing the conversations about funerals wishes and funerals themselves, more and more people are preferring to lock in some of the funeral costs now and making sure their family are aware of their wishes ahead of time.
Don’t forget, Trust Inheritance can help you and your loved ones, with all aspects when someone dies, not just the funeral.
A prepaid funeral plan is one way to plan ahead and beat increases in funeral costs. Most plans will guarentee to cover the directors costs for arranging and conducting the funeral, but may not include additional costs such as burial or cremation fees.
The sooner you lock in the price, the more money you are likely save; it makes finanical sense to purchase a plan a todays prices*.
*Exactly how much of the costs are covered will depend on which plan and provider you choose.
Typical Plans Include:
- Funeral directors professional service
- Advice on registration, documentation and certification of death
- Local removal from place of death to the funeral directors premises (within 20 miles)
- Care of the deceased prior to the funeral
- Standard oak wood veneer coffin
- Attendance of 4 bearers on the day of the funeral
- Provision of a hearse for the service at the crematorium / cemetery
- Full listing of floral tribute
- Use of Chapel of Rest (during office hours)
Typical Optional Extras:
- Disbursements – this covers Minister, Doctor and crematorium / cemetery fees
- Limousine for the service at crematorium / cemetery
- Higher quality coffin
- Bereavement counselling
- 24 hour telephone support
- An allowance for third party costs
It’s not a subject we like to think about, but writing your funeral wishes lets your loved ones know what you would like, as well as what you wouldn’t like, at your funeral.
They allow you to detail things like your religious or spiritual beliefs, whether you wish to be buried or cremated, your preference as to how you would like to be dressed, if you would like flowers and your choice of coffin; amongst other things.
My Final Wishes is a great tool which helps you make your Funeral Wishes. It will ask you a series of questions while giving you information and advice as you go along. At the end of quiz it will produce a Memorandum of Wishes, which can be added to your Will and kept with your other important documents, so that your loved ones can access them if something were to happen to you.