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Daily Insurance Industry News
Monday 24th of September 2018
May 25, 2010

Britons turn to insurance to cover funerals

by Richard Kilner

Story link: Britons turn to insurance to cover funerals

Research by YouGov SixthSense has shown that one in three Britons has a funeral insurance policy or would contemplate taking one out in the future.

The costs of funerals continue to rise ahead of inflation, fuelling an interest in funeral insurance.

One in nine respondents indicated that their policy would meet the costs of their funeral, or that of a close relative, with just over a quarter stating that they do not yet have a policy that would meet such costs but would consider getting on in the future.

The report follows one commissioned by the National Association of Funeral Directors which revealed that the average cost of a grave increased by 42% over the last three years, with the cost of cremation and the interring of cremated remains up by 48% and 67% respectively.

YouGov SixthSense Research Director James McCoy has called on government to review the Social Fund, stating that a £700 grant when bereavement costs can often exceed £2,000 is simply inadequate.

 

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