abdcare blog



  • The short answer is yes. This is partly because of the cost of a funeral. In 1992 the average cost of a funeral was £950.  In 2000 it was £1,920 whilst in 2014 the cost was £3,456.  Presently the average cost of a funeral with a burial is £ £4,257 with those same costs expected to rise by £200 later this year.


  • A “memento mori” and how the last rites are to be administered is therefore a valid question. People do worry about the cost of funerals, especially if they get involved in the long term care system and have to privately fund their costs in a registered nursing home at an average cost of £1,000 per week. Will there be enough money left?


  • How therefore can the ever rising cost be protected against? One excellent way is freeze now the cost of a funeral by investing in a funeral plan. This means purchasing at todays prices something that you will use at some stage in the future (there were 590,000 reported deaths in 2017). This is especially so because of a price war in the funeral plans market.


  • The evidence of the price war is the fact that on the 19th January the shares in Dignity plc the UK’s largest funeral plan provider fell by 50% plus. The reason behind the fall was because of the need to overhaul price as a consequence of ever increasing competition forced upon them by their competition and people shopping around.


  • Dignity is therefore cutting immediately the cost of their simple funeral by 25% and introducing a price freeze on their traditional funerals. Based upon these facts why not buy a funeral plan now and in so doing shop around on price. Other providers include inter alia the Cooperative and Golden Charter.


  • As to background information, there are two types of funeral plan, being either a whole of life insurance policy which typically takes the form of monthly payments meaning the plan is worth whatever the plan is worth when you die. The alternative is a lump sum payment now for the actual cost of your funeral. Your money is paid into a trust which if regulated by the Funeral Planning Authority guarantees your funeral costs at whatever the price is whenever you die.


  • Whether you want a basic, average or luxury funeral a funeral plan is something which everybody over 50 needs to at least consider.


  • The above is an overview only. For a free appointment and to find out what should be considered in an elderly care plan for you or a  loved one email Andrew Douglas or his  team on ajd@awdrys.co.uk or simply call  us on 0800 072 8636.


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