2021 Market Study Reveals Surprising Truth About UK Cremations And Funerals
| | Jack Evans – Savings Expert
We plan our careers. We plan our holidays. We try to prepare for many things throughout our life. But there’s one important matter that most of us fail to get ready for.
It’s something that’s certain to come and cannot be avoided…
A recent study from YouGov found out that only 6% of adults set up a prepaid funeral or cremation plan².
This creates a problem for their family and loved ones.
Because the time comes and planning is no longer an option, many end up stressed with years of debt because of all the costs on their shoulders.
As the funeral planning industry is currently unregulated, funeral providers have been charging high rates for decades.
In fact, the cost of the average funeral in the UK has increased 122% in the last 15 years. In 2020, the total cost of dying was an alarming £9,263 per person².
But all these insanely high costs can be avoided
By preparing for a funeral or cremation ahead of time using a preset plan. It’s a lot easier than you think and only takes a couple minutes to do.
It may not be a motivating task, but it’s worth it. And by not taking care of this in advance, it may have serious financial consequences and cause unnecessary stress to your loved ones.
A funeral plan (if shopped properly) provides cover for your funeral costs, and the price is fixed at today’s rate avoiding any increases over time. With payments as small as £3.28 a week² (less than a couple of coffees a week!!), it is one of the smartest ways to save money.