UK Families Say That Paying For a Loved Ones Funeral Would Cause Financial Problems

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While the United Kingdom has always boasted quality medical care, the fifty plus generation is also shown to enjoy the highest level of end-of-life care - A recent Google survey commissioned by Compare funeral plans UK has uncovered a worrying fact in that when asked, as many as 80% of the families stated that without prepaid funeral plans being in place, if they are called upon to pay for a loved ones funeral, they would not be able to afford to do so.

Making plans ahead of time with low cost funeral prepayment plans

Providing Peace of Mind For Your Family

The UK is number one in terms of the quality of dying throughout the world beating the USA into ninth position behind both China and India.

In a recent Google survey that was commissioned by the UK prepaid funeral plan comparisons experts at comparefuneralplansuk.co.uk, as many as 80% of families in the UK answered saying that if they were immediately called upon to pay for a loved ones funeral, they would struggle to raise the funds.

The survey also reveals a worrying fact, in that many families believe that they have covered off the risk of their family being asked to pay, by taking out life insurance. Life insurance is vital as an element of family protection, but due to many factors such as the lack of a will or the persons passing being sudden, the departed persons estate could become subject to probate, which very often causes delays to the receipt of the life insurance payments.

On average, funerals take place within two weeks of passing, so where prepaid funeral plan cover is not in place, the loved ones will have to find a way to raise the funds required to cover the cost of the funeral. By providing the protection of a prepaid funeral plan, the family can relax rest assured, that the funeral costs will be covered, as the funds are held in trust by the plan provider and paid directly to the funeral director, at the time of service and do not become subject to any delays at all.

As an extra benefit, a funeral plan locks in the price of a funeral at the price that applies on the day of purchase, Guaranteeing to cover the costs, no matter how far into the future the service is provided.

Palliative care has always been a concern in the more developed countries of the world, also known as end of life care, these are the services that are offered when someone who is suffering from a grave illness, a degenerative condition or a similar circumstance, when he or she is not expected to make a recovery. By providing these individuals with high quality treatment options, a great deal of stress is reduced in terms of their own experiences and those of their family members. Interestingly, a recent news article has found that the United Kingdom comes in at the top of the list for caring for those with terminal or life limiting illness.

What does this mean for the general public?

A Sign of the Times

As the ageing population of baby boomers is now reaching into their 80's and even 90's, end-of-life care is an important consideration. Not only do they have greater access to medical care and experts, but there are a growing number of professionals within the palliative care field, who specialise in treating this generation. So, it should come as no great surprise that the fifty plus generation and the elderly can reap some of the benefits that their hard work has paid for over the years. It is expected that this trend will continue into the future. However, there is also a downside to this seemingly silver lining. While end-of-life care is indeed at the top of the list in terms of quality, there are still countless individuals that are unable to cover the rising costs of covering a funeral, which the Compare Funeral Plans UK survey uncovered.

The Problem

Grappling with the mounting price of a funeral is in reality nothing new. For decades, the bereaved have been placed in positions of financial hardship in terms of covering expenses and other legal fees. It should be clear that this can present a real issue, a large percentage of households do not have the resources (or their funds have been depleted in covering the cost of elderly care and other bills), that the eventuality of a funeral can present some very real challenges.

Some of the numerous costs that are difficult to cover include:

  •     Funeral director fees
  •     The hire costs of a Church and/or a Crematorium
  •     Medical and legal fees
  •     The cost of a burial or cremation
  •     Issues such as catering, flowers and transportation

So, it clearly appears that all that glitters may not necessarily be gold. What is the solution to such situations?

The Solution

The first step is to realise that putting off setting up a prepaid funeral plan until “tomorrow” is the wrong way to approach the problem. While some illnesses can take years to run their course, it is also a fact that death can occur quickly and without warning. The same principle holds true when writing a will or getting one's financial affairs in order.

Secondly, consumers need to realise that there are a number of different funeral plan providers currently in the market. Not all of these will offer the same levels of cover, while the services that are supplied may likewise differ. This is why it is so very important to compare the different plans available and the benefits that each provides. Only then will the consumer be able to get a clear view of the best choices, whilst taking into account such factors as budget, preferences and funeral wishes.

It should also be recognised that life insurance plans are often not sufficient to pay for a funeral. As their name suggests, these packages are mainly focused on provisions for the dependents after the insured has passed away. This will help little in terms of immediate costs, any funds which are eventually allocated may be subject to taxation and other issues; once again leading to legal setbacks and delays. The truth of the matter is simple, the myth that a standard life insurance policy alone is enough to cover the rising costs of funerals for the fifty-plus generation needs to be clarified.

Adding to End-of-Life Benefits

While it is indeed impressive that the United Kingdom has achieved such a reputable status in terms of end-of-life care, the fact that countless individuals may still not have a clear-cut approach to prepaid funeral plans is quite concerning. As the prices for even the most basic of ceremonies are expected to rise, those who are just about “breaking even” now in terms of their home finances, will likely face some grave consequences in the future.

This is why consulting with experts like Compare Funeral Plans UK.co.uk is the first step in ensuring that such a situation is avoided. There are several common areas which will be addressed. How do prepaid funeral plans work? What expenses are provided for? What are the top providers in the United Kingdom? How can the best prepaid funeral plans be chosen? Understanding the answers to these questions will help to provide the insight and clarity required to make the most informed choices.

Only time will tell if the United Kingdom remains at the top of the list in terms of palliative care and the benefits provided by the NHS. However, there is little doubt that the rising cost of funerals will continue to be a concern for the fifty plus generation. By planning ahead and securing a comprehensive plan, one's friends and loved ones will be financially protected in the event of a death.

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Mark Leaper

Mark Leaper
@Funeralplansuk
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