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Funeral costs soar by 10 times the increase in the cost of living in a year – forcing families to cut corners on their loved ones’ send off
SunLife’s annual Cost of Dying research shows that the cost of dying is the fastest rising of any fixed cost in the UK – rising much faster than any cost of living such as rent, food, utilities, insurance or clothing.
The overall cost of dying which includes death-related costs such as probate, headstones and flowers in addition to the basic cost of a funeral - has risen by 8.3% to £8,802.
The funeral - which makes up 44% of the cost of dying - has soared by 5.5% in a single year. The average funeral in the UK now costs £3,897 which is more than double what it was when SunLife first started tracking funeral prices in 2004
This year, more than three in five (62%) put at least some money aside compared to 59% last year and just over half (54%) in 2009.
And while this is definitely encouraging, it still means that 38% are still making no provision to pay for their own funeral. Of those that do make some provision, one in five are not leaving enough to cover the full cost, up from one in six last year.
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