Are state benefits becoming inadequate to cover rising funeral costs?
18th April, 2016
A continued increase in the cost of a funeral in the UK, coupled with an erosion of state funeral grants, is pushing many families into debt and causing distress, according to a report by MPs. The unfettered rise in costs has caused a committee to recommend that the benefits paid out to bereaved people be dramatically reformed to offset the rising costs. This has also made the need for protection against the cost of funerals, such as Whole of Life or an Over 50s Plan, even more necessary for UK families.
The Commons Work and Pensions Committee also highlighted that the maximum award under the means-tested social fund funeral has been frozen for 13 years, despite the cost of a funeral in the UK rising every single year. This disparity between actual costs and state cover makes taking out the right form of cover essential to ensure no unexpected or unaffordable costs come you or your loved ones way, if the worst was to happen.
Relying on the support of state benefits can sometimes mean a drawn out and complicated process, something you or your family could do without after a loss. Not only this, but currently some benefits are only paid to couples that were married, which some care calling an “outdated system”.
Finding the right cover can mean a simple and quick pay out to cover those unexpected costs. We can advise on several plans that may be suitable to you and your circumstances, so contact us today to find out more about how to protect you and your family against the rising costs of funerals in the UK with a life insurance quote.