Rising Funeral Costs

With the average cost of a funeral almost £3,600, dying is certainly not a cheap business.

The price will vary depending on the type of funeral service, what you choose to include and the location but one thing is certain, this figure looks set to increase. The hard facts are that funeral costs have risen at a fairly consistent rate of around 7% for the past few years, way above the rate of inflation. If this continues which by all accounts it looks set to, a funeral will cost over £5,000 by 2020. Ouch!

And it’s worth mentioning that this figure only covers the basic funeral expenses. If you then factor in funeral flowers, catering costs, memorials, additional limousines, you could be looking at a further £2,000.  Here's a breakdown of the average cost of a funeral:

funeral costs

So what does this mean? The bottom line is that you need to allow for this increase if you are relying on your savings to pay for your funeral. With interest rates on savings currently around 1.5%, there may be a shortfall if you are not careful.

Now you know what a funeral costs, take a look at Paying for a Funeral to work out your best plan of action. It will only a few minutes and will be time well spent.

How much does a funeral cost?

The cost of a funeral really depends on you; from the cheapest funeral to the most lavish affair, there are certain things that have to be included (unless you opt for a completely DIY funeral) where as other funeral costs are left to your discretion.

Funnily enough, this is how funeral costs are grouped by industry professionals:

Non discretionary funeral costs which include the so called essential items:

Funeral director’s fees
Doctors fees for the certification of death
The Minister’s fees
Burial or cremation fees

Discretionary funeral costs include the additional more personal funeral expenses such as:


Funeral stationary and death notices
The reception or wake costs
Memorial costs
Estate administration fees

Prepaid funeral plans can help with funeral expenses as they guarantee to cover the funeral directors fees and pay an allowance or cover third party charges so your so called discretionary funeral costs are taken into account.    

Help with Funeral Costs

There are a number of options available to you; you just need to decide whether your preference is to put plans in place now to ensure the funeral costs are covered or would you rather leave it for your family to sort out when the time comes?  

It may help to think about what could happen if you don't put plans in place. Would your family have the money to pay for your funeral or would they need help with funeral costs and have to take out a loan? Maybe the money is available but can’t be accessed due to all the time consuming legal implications connected with someone dying? Unfortunately for many families this is a reality.

The other thing worth mentioning is that when you die, unfortunately your debts may not die with you. Someone will have to sort things out and possibly cover any outstanding payments, so it may not just be the cost of a funeral that needs taking care of.

Now you have taken time to start looking at funeral costs, it makes sense to look at the options available to you such as a Pre-paid Funeral Plans or Over 50 Life Insurance Plans so you can understand the pros and cons of each. Whatever your situation, we can help you decide on the best course of action.

Our trusted partners include

over 50 choices

Over50choices Ltd (Reg No. 8411985) 27 Horsewhim Drive Kelly Bray Cornwall PL17 8GL. Authorised & regulated by the Financial Conduct Authority (FCA 594280).

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