J Tillotson is a UK author specialising in finance, energy and communications
It's not a subject most of us like to consider, but studies in the UK have shown that the cost of a funeral has risen by a third in the last 4 years. The average cost of a burial is now £2800, and cremations will set your family back about £2300 for basic services.
With this in mind, more people are turning to prepayment funerals, also known quite flippantly in the trade as 'buy-now-die-later' schemes. You consult with a funeral director, choose a funeral plan, and arrange to pay the cost in instalments; the idea being that when you die, the whole thing will be paid for, leaving your family without the worry of meeting the high funeral costs.
Another option is a 'DIY Funeral', once the only funeral option available to last century's working class and now slowly gaining in popularity. In a full funeral service the funeral director will make all the necessary arrangements, but in a DIY funeral it's all done by friends and family. It can add a much more personal touch, but certain elements may still need to be carried out by professionals, such as digging the grave or organising a cremation.
DIY funerals tend to be much cheaper than full services, and, if you'll forgive the comparison, can be tailored much like a civil wedding ceremony. Having relatives as pall-bearers and funeral drivers not only cuts down on the costs, but can also help the family pull together in their bereavement. A relative or friend may also wish to conduct the funeral service; you don't necessarily need a member of the clergy to do so.
If you do decide to go for a prepaid full funeral service, as crass as it sounds, it's worth 'shopping around'. There are no set prices in the UK for funeral services; it depends largely on the funeral parlour. Therefore, if you're looking to pay for your own funeral, decide on the type of service you'd like and get quotes from different directors.
Life insurance can also help fund a funeral if needs be. Life assurance policies will pay out a lump sum upon death, and this can contribute towards the cost. If you compare life insurance policies with a funeral in mind it can save your loved ones money and stress.
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