A guide to being future funeral proof
A study by SunLife in their 2020 Cost of Dying Report1 found that the cost of dying is now calculated at £9,493, which is up 3.1% since 2018 and is at an all time high. The cost of a basic funeral is up 3.4% since 2018, and in the West & East Midlands the average funeral cost has increased by 9.6% compared to 2018.
But by if you are 50 or over, planning ahead, organising your finances and your own Prepaid Funeral Plan – you can help your family to sidestep issues over the cost.
John Cutler, Relationship Manager for The Nottingham’s Prepaid Funeral Plan partner, Dignity, said: “Freezing your funeral costs at today’s prices protects you and your family from future price rises for services in the plan."
"A Prepaid Funeral Plan enables you to buy at today’s prices for a funeral in the future. So, no matter how much prices increase, you will not be asked to pay a penny more for the services included in your plan. We've seen the huge increase in prices from the SunLife Cost of Dying Report, just imagine how much you could save in 10 or 20 years if you made the decision to pre-pay for your funeral today!"
"The plan also enables you to support loved ones on the key decisions regarding the type of service you would like and any wishes you may have. This will help protect loved ones from spending unnecessary money on a service you may not have wanted, leaving a legacy of happy memories and not financial difficulty.”
Planning ahead now can save a lot of money and worry for you and your loved ones. During a promotional period that started during September 2018 to January 2019, The Nottingham and Dignity, as a partnership saved funeral plan customers over £100,0002 on future funerals and together we're hoping to save even more people money with our next campaign that runs February 25th to 30th April 2020.
During this time there will be an offer to save on Dignity Prepaid Funeral plans. Furthermore, if you are a qualifying member3 of The Nottingham you can also receive £120 cashback on a Prepaid Funeral Plan through our partner, Dignity. Find out more about Member Rewards here.
Have a conversation with your family or, if you’d prefer, drop in to your local branch first for a no-obligation chat with The Nottingham staff who will be happy to help you.
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