60% of over 50s have made no financial arrangements for the cost of their own funeral service.
A survey commissioned by funeral plan provider, Ecclesiastical Planning Services, has revealed that 60% of over 50s have not made any form of financial provision for the cost of their own funeral service.
The research was carried out by OnePoll and asked 1000 people aged 50 and above, who did not already have a funeral plan in place, whether they had made any financial arrangements for the inevitable cost of their own funeral. Over a third (38%) claimed to have already done so. The remaining respondents (60%), save for a small percentage that chose not to provide an answer (2%), had not. Of this group, a staggering 49% said that they did not intend to make financial arrangements for the cost of their own funeral.
Results varied significantly across age groups; 41% of respondents aged 50-55 say they plan to make financial provision for their funeral costs. Surprisingly, this figure sinks to just 18% of respondents aged 71-75.
Pre-paid funeral plans provide an effective way to make financial provision for the cost of a funeral in advance. They also help to protect those who are left behind from footing the bill and reduce stress for family and loved ones at an already emotional time.
Craig Jackson, our Funeral Operations Manager, said: “It is alarming to learn that such a high proportion of those in later life have made no financial provision for the cost of their own funeral service. The financial benefits of making funeral arrangements in advance are well-documented. This could potentially alleviate great financial strain and difficult decisions from loved ones when the time comes. They’re also a useful way to secure your chosen funeral director’s services, which may be used many years in the future.”
For more information about pre-paid funeral plans and the benefits of planning ahead, click here.
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