Bereaved households ‘burdened with document funeral debt’

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Bereaved households who wrestle with funeral prices are
taking over a mean of £1,990 in debt to pay for a funeral, analysis exhibits.

In line with the 2019 Royal London Nationwide Funeral
Price Index, the overall quantity of funeral debt within the UK has risen to £147m, a
12% improve from final 12 months. 

The report discovered 12% of individuals struggled to cowl the
price of a funeral, which is round 74,000 bereaved households within the UK.

Of those that struggled, one in 4 (27%) mentioned they went
into debt from bank cards, loans or overdrafts, one in 5 (20%) borrowed
cash from household or associates and almost one in eight (12%) had to decide on a
cheaper funeral. 

Folks with an revenue of lower than £5,000 a 12 months spend at
least 65% of their annual revenue on a funeral, in comparison with simply three% at most for
these on £150,000 or extra a 12 months.

Royal London mentioned state assist for these on low incomes
is insufficient because it solely covers 39% of the price of a easy funeral. 

Funeral prices are at an all-time excessive, with a primary
funeral within the UK costing £three,785, a rise of £28 from final 12 months.

London stays the most costly area with a funeral costing
on common £four,939, whereas Northern Eire is the least costly with the
common price of a funeral at £2,943. 

Louise Eaton-Terry, Royal London’s funeral price professional, mentioned
the federal government has tinkered across the edges and made some enhancements to the
Funeral Bills Fee profit, however the fund doesn’t cowl the complete price of
a easy funeral.

“The worth of the fund is severely missing with
no severe motion being taken to extend it and assist assist the bereaved who
are being crippled with funeral debt,” she argued.

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