Life insurance may ease rising cost of funerals

Mon, 17 Nov 2008

The cost of a funeral in Britain continues to rise, says a recent study commissioned by a leading life insurance company.

The AXA Sun Life Direct survey revealed that the cost of burial has risen by almost a third in the past four years and has nearly doubled in the last decade. The results show that the average price of burial is now £2,549, which is up from under £2,000 half a decade ago. Cremations remain cheaper at £2,287, while burials cost £2,811 on average.

The increase in cost has led to a growth in the number of Pre-paid funeral plans and is a necessary reminder, says the life insurer, to take out life insurance in order to ease the financial responsibilities that relatives are faced with.

Graham Williams from The National Association of Pre-paid Funeral Plans, said: "In past recessions we found people don't want to be a burden on their cash-strapped sons and daughters struggling to meet their mortgage ."
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