Rising funeral costs cause more to consider insurance

New research from a YouGov SixthSense report into the British mindset reveals that over a third of adults in the UK currently have a funeral insurance policy or would contemplate obtaining one in the future.

With the rise in bereavement costs far outstripping the level of inflation, many have now turned to funeral insurance policies. 11% have already entered into a policy to ensure that the costs of their funeral or the funeral of a close relative will be met; a further 26% do not currently have a policy that will pay for a funeral costs, but would consider one in the future.

The National Association of Funeral Directors records a notable increase in funeral expenses throughout the UK. The average price of a standard grave has risen 42% in the past 3 years, with an average rise of 48% and 67% for cremation and the interring of cremated remains respectively.

Life insurance: News update: 26 May 2010