Funeral Plans in Numbers

Posted by on Feb 21, 2014 in Pre-Paid Funeral | Comments Off on Funeral Plans in Numbers

Funeral Plans in Numbers
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The Funeral Planning Authority (FPA) statistics show that 135,160 pre-paid funeral plans were purchased during 2013, from registered providers. 57,001 plans were drawn down, which means they were used for a funeral during the year. This still leaves 859,840 pre-paid funeral plans that were undrawn; not used yet, at the end of the year. This represents around 1.5% of the U.K.’s population.

Those purchasing and using pre-paid funeral plans are expecting to set aside the majority or all of their funeral costs by paying in advance. An average funeral across 2013 cost £3300-£3500 and the FPA suggest that funeral inflation is around 7% per year. That inflation rate is over three times the standard British inflation rate at present. funerals will cost around £6,220 by the year 2022.

Compare eggs to eggs

Anyone considering the purchase of a pre-paid funeral plan should carefully look over a range of potential packages, to not only compare prices, which are all quite similar, but to compare the contents of each package so that you know what is guaranteed within the purchase and what is not. Some prepaid funeral plans guarantee the funeral director’s costs and apply a sum of money against the additional costs, which include the cremation or burial, doctors fees and the expenses involved in conducting a funeral service.

A burial costs around £1,000 more than a cremation.

You will need to check whether limousines are included as well as a hearse for the occasion. You will receive a certificate detailing the precise information about your purchase.

The type of funeral you require can vary considerably. In some circumstances people wish for the body to be available for visitors to spend a few moments to say a private goodbye. Choosing a simple coffin or up to the most extravagant model, can dramatically change the cost of a funeral.

Best advice

The best advice for anyone considering the purchase of a funeral plan is to decide exactly what you do want, to list what you don’t require and see which packages meet your particular needs. You can complete the purchase over the Internet, by post or by meeting with a representative of the funeral plan provider. All providers offer you at least a 28 day opportunity to change your mind and ask for all of your money to be returned to you.

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