More than two in five (45%) of those who recently helped plan a funeral say they were shocked and stressed when it came to the cost – with almost one in five (18%) extremely stressed, according to data from MetLife UK.
And almost a quarter (23%) admitted that the cost was more expensive than they anticipated, and so one in 10 (11%) had to alter funeral plans to keep costs down.
In addition, 13% of respondents said they did not know how the funeral would be paid for.
Chapter two of MetLife UK’s The Last Word: Tackling the death and funeral planning taboo report, looked at the experiences, attitudes, and behaviours of those who have faced a bereavement and funeral planning in the last two years.
Research for the report was carried out by Opinium and questioned 2,000 adults who had experienced a bereavement in the last two years.
The report found that the average cost of a funeral in the UK was almost £5,000 (£4,986.80),. But the costs can be even higher, as more than 24% of respondents said costs were more than £6,000.
Only 15% of the respondents had a funeral policy, while 13% had a life insurance policy and just 7% had a workplace benefit policy.
A quarter (25%) of people said they struggled to make decisions at the same time they were trying to grieve.
One in five (20%) said they and their partner covered the costs. Almost a third (31%) confirmed the individual’s estate paid, and one in six (16%) said other family helped cover costs.
When asked what would have eased some of the stress of funeral planning, a quarter said nothing could make it easier. Almost a quarter (23%) said it would have helped to know what their loved ones wishes were.
Almost one in five (19%) said having a better understanding of the costs would have taken some of the stress away.
Only 7% said that having support from their employer or workplace benefits provider would have helped.
Adrian Matthews, head of employee benefits at MetLife UK (pictured) said: “At a time when you’re trying to come to terms with losing a loved one, the last thing you want to be worrying about is the cost of the funeral, particularly given the financial pressures the cost-of-living crisis is imposing on day-to-day spending.
“Although many of us try to avoid discussing death and funeral arrangements, it’s a conversation that really should happen as early as possible with our families, so their wishes are clearly outlined.
“While a difficult conversation to start, it is so important to have a view on their wishes, because sadly you cannot ask them when they are no longer here.
“By opening up these conversations it could protect loved ones from additional stress and instead allow them more time and space to grieve.”