Upward trend in funeral plans

More people are taking steps to ensure they get the send off they want by planning their own bespoke funeral, says one of the largest providers of funeral plans, The Co-operative.

The upward trend reflects the value for money that funeral plans represent as funeral costs continue to spiral and the sustained period of low interest rates associated with other types of savings and investments traditionally relied on to cover funeral costs.

The Co-operative has also seen a major shift in people wishing to take more time to plan ahead not only to ensure a much more personalized funeral or celebration of their life but one that is more cost effective as they pay for it at today’s prices no matter when the funeral takes place.

A tailor-made funeral plan gives people complete flexibility - they can choose personal touches like music and dress codes that will make the arrangements really tailored to commemorate their life.

With one in three funerals these days including a pop song or personal theme, such as their football team, and more people preferring a send off that celebrates their life, a tailor-made plan fits what many people today are looking for.

Ian Mackie for The Co-operative says, “We are clearly seeing a significant rise in the number of people discussing and formalising their personal wishes not only with their loved ones but by actually buying a tailor-made funeral plan and this makes enormous sense. Funeral plans are a very good method of financial forward planning, as you pay today’s funeral prices for a future service that is fully guaranteed against any price increases.”

Over 100,000 funeral plans were sold across in 2010 showing that more people are realising that paying towards and planning their funeral in advance makes financial sense and helps to relieve much of the emotional and costly burden to those left behind.

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Upward trend in funeral plans
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