Truth About UK Cremations And Funerals Revealed by 2020 Market Study
| | John Jackson
New Funeral Plan Is Taking UK By Storm And Saving 100s
For the last 10 years, funeral costs have been rising way above the inflation rate. Due to this situation, many UK citizens have shown interest in taking out pre-paid funeral plans. Now the question is: is this the best course of action?
We can all agree that funerals are not the most joyful topic, but truth is that we’re all gonna go through it. And by planning now, we can do much to help our loved ones when our time comes. A reputable pre-paid funeral plan can protect those we love from having to find thousands of pounds at a time when they are grieving and vulnerable.
But let’s take a closer look at the facts.
What is the cost of dying in the UK?
The average cost of dying in 2020, including the funeral, professional services, and the send-off is £9,493. That represents an increase of 3.1% since 2018 and of a whopping 42% since 2007. This shocking rise is indeed questionable, and the funeral industry was rightly investigated by the Competition and Markets Authority (CMA) recently.
Of the many concerns the CMA expressed about the currently unregulated funeral industry, here are two:
1️⃣ People recently bereaved are understandably less likely to shop around for the best deal.
2️⃣ Funeral directors were not consistently giving out the relevant pricing information. This meant it was not easy for people to compare prices between competitors.
These concerns serve to make an already distressing time more challenging. They also make next-of-kin vulnerable to being taken advantage of and paying over the odds.
Pre-paid plans, by design, avoid these difficulties. They both ease the burden of your loved ones and give you more control over your final milestone. In effect, taking out a pre-paid plan will freeze the cost of your funeral at today’s rate. So, no matter how high the price is in the future, your funeral costs are covered.
Although the funeral industry is not regulated, the Funeral Planning Authority (FPA) was created in 2002. Its mission is ‘to drive up standards in the pre-paid funeral industry,’ and reputable providers can voluntarily opt-in to their regulation. The FPA carries out extensive checks on registered providers to ensure customers are treated well and get the funeral they deserved.
Choosing a funeral plan is a huge decision, but there is expert help with this overwhelming decision.
Reassured helps you quickly and easily find and compare some of the UK’s top funeral plans (from providers registered with the FPA) and find your cheapest quote.