Few things in life are certain, but, sadly, one thing we do know for sure is that we will eventually die. Naturally, most people do not like to think about this. We understand that, but we would still strongly advise you to take the time to plan your funeral.
The cost of funerals is soaring
The reason we say this is that funerals are becoming more expensive. Every year, the cost of being buried or cremated rises, and it is a trend that is set to continue. The cost of the materials used to make the coffin and dress the body are increasing. Running the hearses and limousines is also becoming increasingly expensive. There is very little chance that the cost of these things is going to go down, instead of up, in the future.
In addition, there is a shortage of capacity in graveyards and crematoriums, which means that people have to spend far longer in chapels of rest, so more have to be built. All of this is putting pressure on the funeral industry, and driving up costs.
Why pay for your funeral in advance
In the UK, given the fact that the population is aging these issues are set to get worse, rather than better. As a result, the cost of funerals is set to continue to rise. When you consider that since 2004, the average cost of a funeral has risen by 92% you can see the wisdom of investing in a funeral plan.
In the long term, these funeral-financing products will save you a huge amount of money. This is because you will be paying in advance.
In the UK, it is estimated that by 2023, a funeral will cost around £6,000. If you buy a funeral plan now, you could potentially end up paying as little as £2,800. Can you imagine what your family will be able to do with the extra £3,000 or so that is left over?
The option to pay in instalments
The great thing about these funeral plans is that, if you need to, you can pay in monthly instalments. As a result, this financial management product is viable for most families.
As you can see, paying for a funeral in advance using a funeral plan such as this also means that you can select a funeral director that operates in your area, makes a lot of sense. And you can also tailor your funeral to your needs. However, you need to do your research, and ensure that the company you choose is reliable.
How to find a good provider
It is important to look for a well-established provider that has a good reputation. If you live in the UK, it is wise to look for firms that are members of The National Society of Allied and Independent Funeral Directors (SAIF) or The Funeral Planning Authority (FPA).
Companies that are members of these associations have to work to high standards to be able to continue to be members, so generally offer an excellent service. You can find out more about the FPA’s code of practice, and rules here. Most of the best funeral plan providers are members of both SAIF and the FPA.