The average cost of a funeral in the UK has more than doubled since 2004. If these current trends continue a funeral could soon cost more than £7,200 within the decade. With the cost of dying rising faster than the cost of living it’s unfortunate for those on a tight budget. It’s getting more difficult to cover the cost of a traditional funeral.
It’s hard to give an all-in-one definitive answer as to why funeral prices are rising faster than the rate of inflation, but there’s a handful of obvious factors. First of all, funerals are not declining; there’s nothing more certain in life than death. There will always be a demand for funerals.
It’s not only funerals that cost money, you have things such as the cost of probate to deal with when someone passes in order for the executor to be able to deal with the estate.
How much does the average funeral cost in the UK?
Based on your chosen funeral director’s fee and a burial or cremation the current average cost of a funeral in the UK is £3,596 for cremation and £4,561 for a burial. However, there are many other things that can make a huge difference to the cost of a funeral, such as your chosen funeral director, where you live and your chosen date and time for the service.
Should you choose a burial you’ll need to consider the cost of purchasing a plot as this fee is not included in the burial costs. You may also be charged for the scattering and burial of ashes.
Funeral prices have been increasing year on year with no real signs of slowing down, which is why it’s so important for you to plan for the future. There are online funeral calculators designed to help you understand what funeral prices could look like for you in years to come, so you can make a decision on which plan is right for you – whether that’s an ISA, over 50s insurance plan or savings. If you’re relying on your savings to help pay for funeral expenses, you’ll need to take funeral inflation into account, as your current savings goal may not cover it when the time comes.
Although there is a funeral expenses payment government grant, access to this is limited as it only applies to those people on certain benefits, which means getting help with funeral costings can be difficult.
A way to secure your services with today’s prices is with a prepaid funeral plan. This relieves your family from the pressure of paying for your funeral bill, but they also won’t have the worry of making the funeral arrangements while going through a difficult time.
Whatever you decide to do, remember that a lot of people at the time of losing a loved one are reluctant to shop around as it’s far too upsetting. The more you can do in advance to help with funeral costs, the better.