Cost of dying not being considered?

by Daniel Jones

People throughout the country are failing to make end-of-life plans, which could create all sorts of financial problems for their loved ones.

Research from Sun Life Direct shows that the cost of dying in the UK currently stands at £7,248 - the equivalent to three months average pre-tax salary for many.

Aside from making an advance medical decision or other plans for care, the survey suggested that funeral costs are one of the main areas that people overlook.

Over the past seven years alone, funeral costs have escalated by 61 per cent, a trend that Sun Life Direct believes will continue for some time to come.

Simon Cox, head of life planning at the company, said: "Apart from writing a will, telling family and friends is the most common way in which respondents prepared for the end of their lives."

She noted that 44 per cent of respondents to the poll had not planned for their funeral because they expected friends and family to organise and fund it.

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Published on: September 13, 2011

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