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Funeral costs a financial worry for six million people

The Post Office

Over six million people (13 per cent) live with the worry that they could not pay for a loved one's funeral according to research from the Post Office®.

 

These worries are made all the more real given that seven in 10 (70 per cent) people aged over 50 have made no provisions whatsoever.

 

It's not just the money that worries people when funeral planning. One in five (20 per cent) adults say discussions about the arrangements have caused family feuds, and an additional 18 per cent said not knowing what a loved one wanted in terms of a funeral or life celebration also concerns them.

 

Duncan Caesar-Gordon, head of protection products at the Post Office, said: "Although many people do not want to be left any money, they may incur funeral bills, which is a worry for millions of people who want to provide the best possible funeral or life celebration in remembrance of a loved one.

 

"The reality is that funerals are one of those things that nobody wants to prepare for and as a result put little or no financial provision aside for it. This means that should the worst happen, family and friends would be the ones left to pay the bill, and the current average funeral cost over £2,200. Ultimately, this could mean that you don’t end up with the funeral of your choice. However, this can be avoided with a simple plan, like Post Office Over-50s Life Cover, costing from just £7 per month."

 

Life insurance: News update: 17/06/2009

 

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