Published on May 7th, 2014 | by Pete0
How to Nail Down Your Funeral Arrangements Financially
They say that death is the great leveller.
Whether you’re a millionaire from Monaco or a pauper from Perth, passing away is one experience all of us are guaranteed to share.
However, despite this inevitability, the vast majority of us will go to great lengths to avoid facing up to our own mortality – and that can cause a variety of financial headaches for our families.
Although bereavement is less of a taboo subject than it was just two decades ago, research from Dying Matters has revealed many of us would rather be bankrupt than confront death head on.
This ostensible reluctance to accept the unavoidable leaves families struggling to pick up the pieces when a loved one passes away suddenly without them having made prior preparations.
With around 75 per cent of over 50s yet to make plans for their funeral – and the costs of a service rising above inflationary rates – it’s clear to see that something has to give.
So what can be done?
Admittedly, preparing for your own demise can be an uncomfortable journey, but by taking the time to plan, it offers you peace of mind that your funeral is paid for and your family are protected.
Aside from choosing whether you wish to be buried or cremated and what songs will play at your service, it’s vital to firstly sort out the financials and shop for funeral plans online.
The Benefits of a Funeral Plan
The real benefit of paying in advance for your funeral is that the cost of your service is locked in at today’s prices, opposed to increased future rates.
Indeed, researchers have found that the average cost of dying has risen by 7.1 per cent in the last year, with “funeral poverty” around 50 per cent higher than it was just three years ago.
Once you’ve shopped around and found a plan to suit you, it’s important to make your family aware that you’ve made financial arrangements to avoid potential confusion when the time comes.
When you take out a plan, it’s safe and secure, meaning your money is safeguarded to guarantee there will always be adequate funds available to meet the cost of your funeral service.
Investing in a funeral plan is a sure fire way to protect and provide for your family, ameliorating the stress of them trying to arrange a service at such an emotionally difficult time.
Additionally, given that your requests are premeditated, your loved ones will take comfort that you are receiving a service in line with your wishes.
Quite simply, with a funeral plan, you can easily find an option that matches your budget and needs, allowing you to decide everything in advance and get on with enjoying your life.