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Funeral Prices in the United Kingdom Continue to Climb

Funeral prices increase by 30 per cent since 2010Although the inflation rates within the United Kingdom has remained close to zero per cent, it has been shown that basic funeral prices have now reached £3,700 pounds. Some have seen this as a direct result of funeral director fees increasing by 5 per cent during the past 12-month period. Still, this £3,700 pounds will only provide the bare necessities.

The Rising Tide

For example, cremation fees currently stand at £683 pounds while a burial service runs at £1,645 pounds. Flowers, headstones and a reception boost this price to £2,323 pounds. So, the grand total is now closer to £6,000 pounds as opposed to the original 3,700. Unsurprisingly, people are now seen to be spending much less on funerals as their budgets continually tighten.

Solutions to funeral prices increases

For every problem there is a solution. One of the major issues to take into account that one-off costs will often come at inconvenient times. Mounting medical bills may place a further burden on struggling families. Unfortunately, a standard life insurance policy is often not able to address these factors. This is where the power of a prepaid funeral plan comes into play.

Much like any other insurance policy, these plans require the payment of a monthly premium and in return, the provide a lump sum immediately upon the death of the policyholder. There are little formalities, the money will not be delayed for legal reasons and most importantly, it can be accessed as a lump sum immediately.

While the price of funerals is continuing to rise, these prepaid funeral plans can help to offset such financial struggles. In turn, our loved ones can be provided with the services and the burial that they desire.

To find out more about how you can avoid the prices increasing for you and your loved ones in the future, go to our Prepaid funeral plan advice page which is full of information to guide you in making your own guaranteed future protection plans.

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