Average cost

What If You Can’t Afford a Funeral?

An article, from the Mail on Sunday’s ‘This is Money’ section, questions how you can afford to cremate a loved one if you don’t have the money available. They offer advice about the current costs of burying or cremating someone, how the funds can be relocated from the deceased’s estate and what happens if you have no money at all. A link to the article can be found on this webpage. They’re part of the Daily Mail newspapers in the UK. Although the cost of funerals is rapidly increasing by what appears to be more than the rate of inflation each year, particularly as councils have found that this is a way to increase their revenue without increasing local council tax, where you don’t plan for the inevitable cost, the expense can be quite a shock to the system of those you leave behind. For those who cannot easily find £2,000-£6,000 from their own funds, or the estate of the deceased, you could consider a Pre-Paid Funeral Plan and pay just under £14 a week (around £60 a month ) over five years, to set the funeral director’s costs so that you never have to pay any more whatever the rate of inflation. A high-quality Pre-Paid Funeral Plan will cover all of the variable costs which are associated to a cremation, such as the doctor’s fee, the clergy or humanist fee and the local authority’s charge for the cremation. With an annual funeral costing around £3,500 and present, the total charge may be far higher when you add the cost of flowers, newspaper advertisements, a printed order of service and the catering for a wake afterwards. The Halifax issued figures recently that claims that the average person in the UK has £7,780 in savings. Banks and funeral directors will do all that they can to ensure that funds are available at the right time and to reduce the burden of finance at a time when your life may be in turmoil already. Nevertheless, funeral directors are running a business and expect to be paid and banks can only release money if they are sure there is sufficient within the deceased’s estate to be able to clear debts. A last Testament and will is a good legal document that will help an executor of a will to collect funds from bank accounts and pay debts, but perhaps a Pre-Paid Funeral Plan...

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Pre-Paid Funeral Plan Sales Are Up

The Funeral Planning Authority has issued statistics about sales of Pre-Paid Funeral Plans for 2013/14. They say, that from 95% of the market’s results (they don’t know about the other 5%) 135,160 plans were purchased during 2013. 57,001 plans were used during the year (a funeral was arranged) . This still leaves 859,840 plans unused so far, with people who have planned to offer peace of mind to their families by arranging their funeral in advance. Private Healthcare UK added this notice to their website: According to the latest Funeral Planning Authority figures, 67,484 people bought pre-paid funeral plans in the first half of 2013. Expected growth for 2013 is 12% with expected total sales of 135,000. During the first half of 2013, 30,555 people died and had all or much of their funeral paid for by their funeral plan. By the end of 2014 there will be around a million people with a funeral plan. A pre-paid funeral plan is a contract where in return for a fee in advance, the plan provider agrees to provide a funeral for the customer on the death of the customer. Where you need to find out more about Pre-Paid Funeral Plans and their availability for you, go to these help pages for more information. Related articles Poorest people cannot afford costs of dying, report...

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