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Market Study Surprise Findings Make UK Seniors Rush To Protect Their Loved Ones
By Joanne Godspeed | Last updated 31/03/2024
Throughout our lives we prepare for many things. We try and make plans for our studies, holidays, marriages and careers. But there's one important matter that most of us forget to plan for, which is sadly certain to come and cannot be avoided...
Death.
A recent study by YouGov found that only 6% of UK adults have made any financial preparations for their funerals.
This is in contrast to many other European nations where end-of-life planning is standard. In the Netherlands, 70% of people have financial plans in place for their funerals, while 20 million Spaniards have funeral insurance policies in place for that necessary peace of mind.
This lack of planning creates potential problems for many families and loved ones in the UK.
Because when the time comes and planning is no longer an option, many families are having to borrow or ask for donations to pay for the funeral costs. Some of these families end up burdened with years of debt because of all the costs involved in a funeral. As one of the biggest scandals in recent years, the unregulated funeral industry has been exploiting this for decades because they know they can charge families any price they want at a stressful and difficult time. As a result, their rates have been growing excessively over the years.
In fact, the average total cost of dying in the UK has reached an astronomical £9,493 per person, having increased 130% over the past 15 years, according to the latest 2020 SunLife Cost of Dying Report. That’s the highest it’s ever been. Many families are suprised at such a high average cost of a funeral and how steeply it has been rising.
Would you like to protect your loved ones against expensive and rising funeral costs? Get an affordable senior life insurance policy. It is certainly worth it because it is so important.
By not taking care of this in advance, serious financial consequences and unnecessary additional stress would be inflicted upon your grieving loved ones at an already difficult and stressful time.
On the other hand, senior life or funeral insurance policies offer tax-free payouts, premiums that never increase over time and benefits that never decrease. With premiums starting from as affordable levels as only a few pennies per day, it is one of the cheapest and smartest ways to leave a sum of money to your loved ones, rather than make them to take on an unnecessary debt to help pay for funeral and other costs.
In its 2019 CMA Funerals markets study, the UK government found that the price of essential elements of a funeral has increased twice as fast as inflation over the past 14 years. With proper insurance coverage, your relatives will be protected by a major insurance company from this increasingly heavy burden.
Many people are starting to realise this and are now rushing to purchase a cost-effective funeral or life insurance policy that covers their beneficiaries against funeral costs, helps pay off debts or other expenses within the limit of coverage purchased.
Thankfully, no medical exams are required to qualify and acceptance is guaranteed for UK residents of all ages.
To find the best senior life insurance plan for your circumstances, simply follow these steps to avoid saddling your loved ones with an unnecessary financial burden when it is time to go.
👉 1) Select age to see what cover you qualify for
👉 2) On the following page, complete a quick and easy questionnaire, so that a free no-obligations custom quote can be prepared for you by experienced FCA-authorised life insurance experts which could possibly save your loved ones many thousands of pounds.⬇️
Death.
A recent study by YouGov found that only 6% of UK adults have made any financial preparations for their funerals.
This is in contrast to many other European nations where end-of-life planning is standard. In the Netherlands, 70% of people have financial plans in place for their funerals, while 20 million Spaniards have funeral insurance policies in place for that necessary peace of mind.
This lack of planning creates potential problems for many families and loved ones in the UK.
Because when the time comes and planning is no longer an option, many families are having to borrow or ask for donations to pay for the funeral costs. Some of these families end up burdened with years of debt because of all the costs involved in a funeral. As one of the biggest scandals in recent years, the unregulated funeral industry has been exploiting this for decades because they know they can charge families any price they want at a stressful and difficult time. As a result, their rates have been growing excessively over the years.
In fact, the average total cost of dying in the UK has reached an astronomical £9,493 per person, having increased 130% over the past 15 years, according to the latest 2020 SunLife Cost of Dying Report. That’s the highest it’s ever been. Many families are suprised at such a high average cost of a funeral and how steeply it has been rising.
However, the good news is that all these unbelievably high costs can be easily avoided.
How? By taking out an affordable life insurance policy. Not only it is a lot cheaper, but it is also easier and faster to arrange than you might think.Would you like to protect your loved ones against expensive and rising funeral costs? Get an affordable senior life insurance policy. It is certainly worth it because it is so important.
By not taking care of this in advance, serious financial consequences and unnecessary additional stress would be inflicted upon your grieving loved ones at an already difficult and stressful time.
On the other hand, senior life or funeral insurance policies offer tax-free payouts, premiums that never increase over time and benefits that never decrease. With premiums starting from as affordable levels as only a few pennies per day, it is one of the cheapest and smartest ways to leave a sum of money to your loved ones, rather than make them to take on an unnecessary debt to help pay for funeral and other costs.
With so many life insurance and funeral insurance options to choose from - how do I know which one to choose?
Arranging one is really easy and the sooner you take out the policy, the more beneficial the premium rates are going to be. So it is in really important to lock in an affordable premium level as soon as possible so that it won't grow over time.In its 2019 CMA Funerals markets study, the UK government found that the price of essential elements of a funeral has increased twice as fast as inflation over the past 14 years. With proper insurance coverage, your relatives will be protected by a major insurance company from this increasingly heavy burden.
Many people are starting to realise this and are now rushing to purchase a cost-effective funeral or life insurance policy that covers their beneficiaries against funeral costs, helps pay off debts or other expenses within the limit of coverage purchased.
Thankfully, no medical exams are required to qualify and acceptance is guaranteed for UK residents of all ages.
To find the best senior life insurance plan for your circumstances, simply follow these steps to avoid saddling your loved ones with an unnecessary financial burden when it is time to go.
👉 1) Select age to see what cover you qualify for
👉 2) On the following page, complete a quick and easy questionnaire, so that a free no-obligations custom quote can be prepared for you by experienced FCA-authorised life insurance experts which could possibly save your loved ones many thousands of pounds.⬇️
WeCovr provides a a convenient place for families and individuals to get life insurance, critical illness insurance and private medical health insurance quotes from FCA authorised brokers and insurers. Since 2011 we've helped over thousands of insureds towards protecting themselves against various risks, including life insurance, critical illness insurance and private medical health insurance. Reference Child Bereavement Network estimates that very 22 minute a child in the UK loses a parent they depend on financially. At the same time, only about 30% of households hold life insurance.
WeCovr assists its customers in finding quotes for life insurance, critical illness insurance and private medical health insurance by introducing them to FCA authorised companies. The content of this site is meant to be informational, and it should not be considered financial advice.
Political And Credit Risks Ltd is a registered company in England and Wales. Company Number: 07691072. Data Protection Register Number: ZA207579. Registered Office: 22-45 Old Castle Street, London, E1 7NY. WeCovr is a trading style of Political And Credit Risks Ltd. Political And Credit Risks Ltd is Authorised and Regulated by the Financial Conduct Authority and is on the Financial Services Register under number 735613.
WeCovr assists its customers in finding quotes for life insurance, critical illness insurance and private medical health insurance by introducing them to FCA authorised companies. The content of this site is meant to be informational, and it should not be considered financial advice.
Political And Credit Risks Ltd is a registered company in England and Wales. Company Number: 07691072. Data Protection Register Number: ZA207579. Registered Office: 22-45 Old Castle Street, London, E1 7NY. WeCovr is a trading style of Political And Credit Risks Ltd. Political And Credit Risks Ltd is Authorised and Regulated by the Financial Conduct Authority and is on the Financial Services Register under number 735613.