It is a well-known fact that living in modern society has become more expensive than ever before. This is perhaps why it is so very disturbing that even the cost of dying has risen substantially during the past decade. In 2011, the average cost of a funeral was a staggering £3,091 pounds. As if this was not exorbitant enough, recent figures have now highlighted that such figures have ascended to the astronomical figure of approximately £3,700 pounds. However, let us keep in mind that these are only the basic rates. They do not include such expenditures as headstones, religious ceremonies, the transportation of the deceased and catering. When all of these other factors are taken into account, the price tag rises will above £7,000 pounds.
Is the Sky the Limit?
Unfortunately, many analysts feel that this is only the tip of the iceberg. Why does the “perfect storm” seem to be brewing? There are actually several factors behind this disturbing trend. First, many funeral directors are claiming that their expenses have increased. This serves to justify their higher fees. We should also note that individuals are living for longer than ever before. As strange as it sounds, this actually creates a booming market for those who specialise in the funeral industry. Some predict that this scenario is only expected to become worse in the coming years.
Is There a Solution?
One of the major reasons why the bereaved ultimately pay astronomical fees is that they had never thought to purchase a prepaid funeral plan. We can think of these options as a type of protective “umbrella” that is designed to provide loved ones with a financial parachute when the time comes. So, how do these plans work, what are their advantages and in what ways can we compare the market funeral plans to secure the best value?
Prepaid funeral plans are quite different than standard funeral insurance. These plans will require regular payments and in return, the guarantee a fixed sum upon the death of a loved one or family member. However, this is only the beginning. It is quite common for weeks or even months to pass before funds can be distributed. With a prepaid funeral plan, the necessary funds are available immediately and paid directly to the undertaker. Thus, necessary expenses can be paid for without friends and loved ones being forced to stretch what may already prove to be a strained budget.
We should also remember that with many typical funeral insurance policies, payments are made on a continuous basis, usually up until either the age of 80 or death if this was to occur first. Using the services of an industry comparisons expert company like Silver Choices allows the customer to compare the market funeral plans, without having to do any of the leg work. The comparisons company will do all the work and present the best buy recommendations of the day to the client, enabling them to be sure that they have purchased the best funeral plan to suit their exact needs. Prepaid funeral plans offer options to pay either in full at the outset or over up to 20 years, but the real benefit of a prepaid funeral plan, is that you are buying at a fixed price and protecting yourself from all future funeral costs increases.
Plan holders know what they will pay and for exactly how long and they will never pay in more than the original cost of their chosen plan. This option sits will with people looking to financially plan into their retirement, protecting their loved ones from the likelihood of needing to find the funds to pay and leaving more in the plan holders estate, for the benefit of their loved ones after they have gone.
Compare The Market Funeral Plans – Making the Correct Choices
Compare Funeral Plans UK is very pleased to be able to offer it’s visitors the most comprehensive and objective UK comparison portal in regards to prepaid funeral plans. We only review the plans provided by the top-rated companies and we constantly review all of the plans on offer, to ensure our recommendations remain constantly accurate. Therefore, those searching for the best buy prepaid funeral plans, can rest assured knowing that the leg work has been done for them.
To find out more, visit the funeral plans comparison website at http://www.comparefuneralplansuk.co.uk.