Saving cash for your family with a funeral plan

| November 20, 2013

Saving cashGenerally speaking, most people like to know they have security in their lives. It can be a comfort to understand that no matter what happens, a change of circumstances won’t affect your bank balance. And, while it’s a macabre thought, the same should apply to your funeral plan, too.

With the cost of a funeral expected to rise by 6.89 per cent year on year, as reported by national newspaper The Telegraph, the average price of a standard funeral could set you back more than ?4900 in 10 years’ time and, without the appropriate preparation, your family could be left in a sea of debt.

So, finding the best funeral plan is the option for the person who wants peace of mind, knowing that they’re not burdening their family with a potentially high level of debt when they pass.

Options for an effective funeral plan

Most pre-paid funeral plans work on the basis of a sliding scale, allowing you a level of financial flexibility when choosing your plan, with most providers offering a variation of caskets, the covering of doctor or clergy fees and a number of payment options to ensure that most people with a small amount of disposable income can afford a plan.

Taking out a funeral plan also means that the price of your service will be fixed, leaving you without the woes of rising yearly interest rates.

The best funeral plans will offer all of this financial freedom, as well as the opportunity to plan not just your monetary situation, but also every facet of your departing ceremony, from the type of wreath you’d prefer to the songs you’d like played, the prayer said to the poem read.

The need to discuss death more openly

We avoid discussions of death for fear of morbidity, yet it is an occurrence of the everyday, one that we generally seem desperate to ignore. This is made all the clearer by the fact that half of all adults in the UK have made no provisions for their passing, with 82 per cent having no pre-paid funeral plan whatsoever.

The survey, which was carried out by the Dying Matters Coalition, also found that 60 per cent of those people had no will, and 46 per cent had made no funeral provisions at all.

In an interview with national newspaper The Guardian, the chief executive of the Dying Matters Coalition, Eve Richardson, said, “We owe it to our loved ones not to leave a mess behind when we die. We owe it to ourselves to arrange our affairs to our own satisfaction and to plan a funeral of our choosing.”

Without facing death we can never truly prepare for it and, especially as funeral prices rise, preparation is just what we need.

Saving cash for your family with a funeral plan

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