There has been an increase in the attention people are giving funeral costs and funeral planning. Funeral Plan Providers are also seeing a rise in interest from people who want to get a funeral care plans in place.
But why are people really talking about it?
One main reason: The cost of a basic funeral has risen, on average, by 9% annually and is projected to increase more in the coming years. The national average cost of a basic funeral is £4,078 and this figure does not include discretionary costs for things such as flowers, catering, order of service, and etc.
Funeral Debt is the amount of money added on to someone’s existing financial obligations as a result of relying on credit for funeral costs. Funeral Poverty is when funeral costs are beyond someone’s ability to pay.
Here’s a quick image of what the discussions are about:
With all the research information about funeral costs and funeral debt, people are now having conversations about Funeral Care Plans which help freeze the costs at what it is currently when a plan is taken out.
Funeral Care Plans and Funeral Plan Providers give people an opportunity to spread the cost of a funeral rather than leaving it to their close family and friends to deal with when they are gone.
The attention being given to funeral costs and funeral care plans has given many people an opportunity to plan ahead and cut down the soaring costs of an inevitable life event.
Have started planning your own funeral?
Start the conversation with a close family member or close friend.
It doesn’t have to be a very formal talk but rather a conversation to let others know what your preferences are – this will be helpful in cutting down costs and also letting someone know how you would the celebration of your life to be.