Do pre-paid funeral plans make financial sense?

Losing someone close to you is one of the most distressing experiences you are likely to experience in a lifetime. Most of us will want to have the space to come to terms with our loss but sadly for many, the immediate aftermath of a death is usually dominated by sorting our funeral arrangement. Those arrangements also come with high costs, the last thing that you need when you are grieving the death of a loved one. And funerals are expensive: the average cost is now close to £4,000 and is expected to rise by another £1,000 by the end of 2017. The funeral itself is not the only cost that relatives will incur: all the extras including flowers, a memorial and catering, can add more than £2,000 to the final bill. And this is before you consider probate and the implications of inheritance tax. Keeping these matters in mind do pre-paid funeral plans make financial sense? Will they alleviate some of stress? How do pre-paid funeral plans work? With funeral cost inflation running at 4-5%


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