Research by The National Association of Funeral Directors states that the cost of a funeral in the UK has risen by 33 per cent over the past five years. In light of these rising costs, the Post Office is advising people to consider life insurance as a way to help families protect against the high costs of funerals.
The research concludes that the average price of funeral in the UK currently stands at £2549. The Post Office stresses that life insurance can play a vital role in alleviating the financial pressures brought about by funeral costs and offers a dedicated Over 50s life insurance cover. This is designed for people between the ages of 50 and 80 and aims to provide families with a guaranteed lump sum following the death of a loved one, which can help them pay for funeral expenses or the clearance of debts. Life insurance cover can help to alleviate some of the financial pressures associated with planning a funeral.