How to cover your funeral costs

Fewer than one in five over 50s have arranged for their funeral costs to be covered by a life insurance policy, a new study¹ has revealed.

As well as 17% who have cover in place for funeral costs, a further one in 10 expect their loved ones to use proceeds from selling their house or assets. In total, 42% have a savings pot in place to cover these costs. Despite this, 38% said they can’t afford to put money into savings.

One in five of those without any financial provision for their funeral costs said they don’t want to think about it, while 17% of those unsure how the costs will be covered have no savings in place to pay for this.

Taking the burden away from your loved ones can be a huge relief for those you leave behind.

As with all insurance policies, conditions and exclusions will apply

¹ OneFamily