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The average cost of dying has soared by 10.6% to £8,427 – seven times the rate of inflation and the biggest jump in six years – according to the latest annual research for an ongoing major study.
The analysis from insurance company Sun Life Direct of death-related costs – which include the expenses of a basic funeral, probate and memorials such as headstones – also reveals that almost half of bereaved families are opting for DIY estate administration in order to save money.
While the cost of the funeral has risen sharply at more than twice the rate of inflation to £3,590 – a rise of 3.9% since 2013 and a staggering 87% higher than in Sun Life’s first survey carried out eleven years ago – it nevertheless accounts for less than half (43%) of the total cost of dying.
http://www.theguardian.com/money/2014/oct/16/cost-dying-biggest-jump-six-years
The analysis from insurance company Sun Life Direct of death-related costs – which include the expenses of a basic funeral, probate and memorials such as headstones – also reveals that almost half of bereaved families are opting for DIY estate administration in order to save money.
While the cost of the funeral has risen sharply at more than twice the rate of inflation to £3,590 – a rise of 3.9% since 2013 and a staggering 87% higher than in Sun Life’s first survey carried out eleven years ago – it nevertheless accounts for less than half (43%) of the total cost of dying.
http://www.theguardian.com/money/2014/oct/16/cost-dying-biggest-jump-six-years