How to avoid funeral debt

In the UK the average funeral costs around £4k and for many families that financial burden is an added stress at an already upsetting time. That’s why Fosters Funeral Directors are encouraging people to make their wishes known and consider the benefits of a pre-paid funeral plan.

Why being open about funeral expenses can help families avoid unplanned debt

The saying goes that ‘the best things in life are free’ but significant moments in life, such as buying a house or getting married, are often very expensive. It is normal to discuss and save up for those milestones yet when it comes to planning for a funeral, people often shy away from the topic. Perhaps that’s why The Cost of Dying Report* found that 59% of families surveyed had to borrow money to pay funeral expenses.

Reasons to buy a funeral plan

Commonly people buy funeral plans for financial and practical reasons. Some people want to protect their next of kin from hefty funeral bills and lock in today’s prices. Others want to record a funeral preference such as a religious element, a choice of venue or preferring the no fuss option.

James (74) from Dunfermline said: “I don’t want a fuss and prefer my grandkids inherit that money, so I’ve gone for a Direct Cremation Plan from Fosters. Once it’s done, I’ve told the family to take my ashes to the seaside then go for a fish supper instead.”

Funeral plans are popular amongst the over 50s, many of whom will have been responsible for arranging and paying for a relative’s funeral like Margaret (62) from Edinburgh who said: “I am paying up my funeral plan to save my daughter that burden. We lost my dad and then my mother-in-law in the same year and it took years to pay off the debt. I had sleepless nights worrying about money.”

At Fosters if you’re aged 40 to 75 you are guaranteed to be accepted for a funeral plan without any medical or lifestyle questions. They offer a range of funeral plans to meet different needs and budgets with payments made in small monthly instalments or in a lump sum.

Fosters have 26 modern funeral homes across Scotland where their experienced and friendly team can chat through the options. For a brochure call 0131 263 0262 or learn more by visiting www.FostersFuneralDirectors.com/FuneralPlans

*The Cost of Dying Report 2022 - 3062_COD_Cost of Dying Report_2022_V7 (sunlife.co.uk)