A study conducted by a UK provider of pre-paid funeral plans has revealed that one in ten respondents have known someone in financial difficulty due to funeral costs, and 4% have experienced financial difficulty themselves due to funeral costs.
Research commissioned by pre-paid funeral plan provider, Ecclesiastical Planning Services, has revealed that out of 1,500 people surveyed, of those that responded (1,428), 4% have experienced financial difficulty due to funeral costs (55), and 10% have known someone who has (137).
The study polled 1,500 adults living in the UK, all aged 50 or over and was conducted as part of research into the attitudes of the British public towards death and funerals. Initially, participants were asked, ‘how do you plan to pay for your funeral?’ and of those that responded (1,500), 18% stated they didn’t know or were not sure (277), and 3% said their family or friends would pay (39).
When someone dies, the cost of a funeral can be unexpected and unaffordable for some, especially if there are no savings or investments in place. The survey asked, ‘Have you/anyone you know ever found yourself/themselves in financial difficulty due to funeral costs?’. 4% of respondents said they have and 10% have known someone who has. (76% said they have not experienced this or know of anyone who has, 10% were unsure, and 1% preferred not to say.)
The survey also asked participants what they thought the main benefits of buying a pre-paid funeral plan are and respondents were able to select up to three answers. Interestingly, respondents stated reduced financial worry for loved ones as the main benefit (694), followed by reduced (emotional) worry (for loved ones) (610) and to help protect against rising funeral costs (586).
Emma Simpson, Marketing Manager at Ecclesiastical Planning Services, said, “If you’ve ever had to arrange a funeral for someone, you’ll know just how much there is to decide and how difficult it can be. Add to this the financial impact, this can cause worry and anxiety. That’s why we encourage everyone to plan ahead, whether it’s the financial side, the funeral arrangements themselves, or both. We know it can provide a huge source of relief to have these important end-of-life plans in place, both for you and your loved ones.”
Source: OnePoll research of 1,500 UK residents aged 50 and above, on behalf of Ecclesiastical Planning Services, November 2024.