Begin preparing when you’re young and healthy and death is, hopefully, a long way off.  Don’t wait until you’re old and sick and death is just around the corner. Then it may be too late.

The number of deaths every year in Britain – which have been falling for the past 40 years – is set to rise by 20% over the next two decades, as the lives of unprecedented numbers born in the post-baby boom come to an end.

At the same time, the price of a funeral is rising fast, thanks to higher costs for cremation, rising undertakers’ bills, and the increasing fees demanded by churches.

Dominic Maguire of the National Association of Funeral Directors, urged people to discuss the end of their lives more openly, especially their wishes and the costs.

“Talking about death can have a huge effect on feelings and emotions after a loved one has passed away, including knowing that you are giving them the funeral that they want.”

“The cost of dying can come as a shock to people at a time when they are already vulnerable, and we urge everyone to discuss the issues with their loved ones and plan ahead, so that when it comes to what is a very sad and difficult time, they will at least have the comfort of having something in place”*

There are two ways to plan ahead: buy a “prepaid” funeral, or buy insurance aimed to generate an adequate sum at your death.

With the first type of plan you are insured against rises in the future costs of funerals because the plan provider will pay. But not all costs are included, so the schedule needs to be checked thoroughly, preferably with your executor(s) to hand.

With Life Insurance policies, there is the risk of costs having risen above the sum insured. Also, with most of these policies you have to pay a premium each year, however long you live, posing the risk that more will be paid in than out.

For more information about our affordable funeral plans, please contact us on 01925 859623  /  email info@talkingwills.co.uk

* SOURCE: BBC News  http://www.bbc.co.uk/news/education-32349490