Despite being reliably informed the UK is a rapidly ageing population - usually on a daily basis, courtesy of the media highlighting the plight of NHS funding and the like - people aren’t going to live forever.
The simple fact of the matter – sadly – is that we are all going to wind up dead. And a key part of this altogether depressing endgame, we will need burying. Not just that, but first being prepared for our final journey and ensuring that the send-off is both worthy and fitting of how we spent our living years.
The only thing is funerals don’t come cheap these days. On the contrary, they’ve getting increasingly more expensive.
Thankfully there are ways to plan ahead to budget for funeral costs with products such as Life Insurance policies being drawn up while the insured party remains in the land of the living giving the insured person the chance to budget towards the cost of the funeral.
Paying for funeral costs is one of the most common ways in which beneficiaries of life insurance packages (indirectly bequeathed to them via the late policyholder) tend to use the lump sums given to them.
Below we outline the basic costs associated with funerals today, to give you an idea of just how much you may have to stump up in the future.
Here and now we’re talking in the region of £675 – on average – as the ball-park amount people should realistically set aside for their own funerals, providing they’re looking to plan a conventional one.
Location and individual arrangements can significantly alter this figure, yet generally-speaking this pretty much covers things. It is worth noting however if you choose to forego the church bit and instead simply opt for what’s known in the (undertaking) business as a ‘direct cremation’; then this would set the organisers back around £1,600. At least the money saved could then be used for a private, possibly non-religious gathering/ceremony in more familiar surrounds.
To give you a brief idea of what cost’s how much in terms of the basics of a traditional funeral, then it typically tallies up as follows.
Should you choose to venture down the abovementioned – and admittedly, ‘no frills’ ‘direct cremation’ route of burial – which includes the collection of the deceased, a simple coffin and the ashes returned – you’re talking £1,600.
For £3,200 you’ll receive additional ‘care’ of the deceased, the use of a hearse and the most straightforward of services, packaged as ‘cremation using a funeral director’.
Ramp this figure up to £4,100 plus, and ‘burial using a funeral director’ territory gives you all of the above, plus the burial. But neither necessarily comprise of an overly elaborate ceremony, we hasten to add.
So that’s the broader picture explained, but what about the smaller details. The other all-important factors which influence funeral costs here in Britain, and the options available to those footing the bill at the end of the day.
Disbursement costs account for a large percentage of the overall costings, which are the fees – covering burial or cremation, normally - paid to third parties by the funeral director on the client’s behalf. It’s this which pushes up the total cost.
While some elements aren’t negotiable – in terms of the recently deceased’s last wishes and /or those of the family AND from a financial perspective – other elements of funerals can be. These ‘optional extras’ of sorts can make all the difference when totalling everything up, and are examined below to give you a better understanding of the breakdown of funeral costings.
NOTE: It is common practice for funeral directors to organise a package deal which comprises all the compulsory elements, including the disbursement fees mentioned earlier. This costs in the region of £1,900 and can subsequently be tailored to individual wishes.
Other costs which are completely optional from the outset of funeral arranging also include the following;
As with anything in life (or for that matter, death) prices can easily vary when it comes to planning for a funeral, so it’s well worth doing your research first and requesting a few quotes before making your mind up.
As already pointed out, it could be worth your while to look into making some of the arrangements in-house (within the confines of the family, close relatives and friends). But perhaps most importantly with reference to Life Insurance plans and policies, you should speak with one of our team of experts here at Quick Quote Life to chat about the dedicated Life Insurance products out there which could easily cover all the above eventualities and associate costings.