Studies conducted as part of the British Seniors Funeral Report 2022 found that while 35 per cent of those polled were aware of what their loved ones wanted for their funeral, they were worried about how they could afford to pay for it in the current climate.
One fifth (19 per cent) of those polled reported that the deceased had no money set aside for their funeral, while over a third (34 per cent) said the death was unexpected, so no plan was in place.
This led to 47 per cent feeling stressed and 31 per cent struggling to cope with the additional financial strain.
The study found that the average cost of a funeral has risen by more than £500 in the last 12 months alone, and that a third of those surveyed (34 per cent) had no idea about how much a funeral actually costs, with a quarter (24 per cent) putting off investigating the matter further.
“Huge uncertainty in the world from many contributing factors has meant just like everything else, funeral costs have inevitably had to rise,” said a British Seniors spokesperson.
“However, many are feeling like they couldn’t give a loved one the send-off they deserve because they’ll have to cut corners on the details due to money being particularly tight at the moment.”
According to data from Sun Life, the average basic funeral cost £4,056 in 2021 without the inclusion of traditional flowers, cars and catering.
A November study found that forty-three per cent of grieving adults had gone into debt or experienced financial hardship after paying towards a loved ones’ funeral.
Almost half of those surveyed (47 per cent) admitted to selling a sentimental item given to them by a loved one to go towards the cost of a funeral, the most common of which was jewellery (34 per cent), a watch (19 per cent) and ornaments (18 per cent).
Additional reporting by SWNS
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