According to BBC News, prepaid funeral plans are an immensely fast-growing industry, rising over 350% over the last decade alone, with over a million people planning their own funerals in the UK. Funeral plans for under 40s are one of the best ways to ease the financial burden and future funeral planning pressure on your family.
Easing Financial Burden and Funeral Planning Pressure
The costs of funerals are rising. According to the Sun Life Cost of Dying Report 2021, the average cost of a funeral in the UK today is between £4,000-£5,000 today, depending on preference for cremation or burial, while almost a decade ago, costs were half that.
We have already talked about funeral plans under 50 but purchasing a funeral plan for under 40s allows for more time to lock in today’s funeral prices and budget accordingly with respect to any retirement plans you may also be considering during this time.
Planning funeral arrangements in advance allow for deep discussion as to your personal wishes for your ceremony and what would bring the most comfort and support to your family.
The earlier you start funeral planning, the easier it will be to plan for both a lasting retirement savings and pension fund as well as easing the minds of loved ones. Considering funeral plans for under 40s ensures that when the time comes, you and they are well prepared.
Funeral plans can help your family avoid any surprising expenses the future may bring and consider aspects like burial and cremation fees and Funeral Director’s costs.
Capital Life Funeral Plans
Learn more about our funeral plans here. Capital Life is here to offer advice and support in choosing a funeral plan for under 40s. Contact us or call us on 0800 411 8683, and we will be more than happy to assist.
We can also assist with Probate, Wills, Inheritance Planning and LPAs.