Britain is facing an escalating cost of dying crisis, with a growing number of families having to sell belongings, raid their savings or borrow from friends to cover the cost of a loved one’s funeral.
A new report has laid bare the shocking reality of dying in the UK, pointing to a “cost of dying” crisis on top of the “cost of living” crisis that is already crippling families across the country.
Insurer SunLife says that after two years of falls, UK funeral costs are on the rise again, with the cost of a basic funeral increasing by 4.7 per cent in a year to reach £4,141, according to the report.
In 2004, a basic funeral cost £1,835, which translates into a 126 per cent rise in 20 years – compared with the 72 per cent increase in consumer price inflation over the period.
SunLife’s 20th annual report on the cost of dying found that paying for a funeral during the cost of living crisis “is pushing families into debt and impacting their mental and physical wellbeing”.
It found that the average total “cost of dying” – which includes burial or cremation fees, funeral directors’ costs, a mid-range coffin, one funeral limousine, a doctor and celebrant, and estate administration fees – had reached £9,658.
The report also revealed that while the majority of people (70 per cent) do make provisions to pay for their funeral before they die, only 54 per cent leave enough to cover the full cost. This means that, overall, only 43 per cent of people are making adequate financial provision for their own funeral.
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