Cost of dying rises seven times faster than the cost of living

Funeral costs, researched by financial services experts SunLife and recorded in the company’s annual Cost of Dying report, show that the costs loved ones face at a time of loss continue to grow and with no sign of slowing down.

In 2014, the report records a 10.6 per cent rise, increasing from that of 2013’s 7.1 per cent and higher than all but one rise in the last eight years, when the increase was at 11 per cent in 2008.

SunLife marketing director David Brooks comments: ‘With the total cost of dying averaging £8,427 across the UK, more and more families are struggling to pay the bills that mount up when someone passes away.

‘And it’s from this first theme of spiralling costs that the second theme emerges: the emotional cost of dying. With hidden costs that families didn’t make provision for and the inconsistent manner in which different companies can treat the bereaved when sorting out their loved one’s affairs, many people are bearing a huge emotional burden.

‘Inevitably, this burden comes at exactly the same time people are trying to come to terms with their loss. The last thing they want is bureaucratic or bungling treatment when they are trying to tidy up their loved one’s affairs and plan the send-off.’

The £8,427 cost of dying includes an average cost of £3,590 for the funeral itself, £3,004 for hiring a professional and £1,833 for additional extras. SunLife estimate that if the current rate of acceleration continues then the average funeral cost in 2019 will be at £4,489.

Results were taken from an online survey of 1,504 adults who have been responsible for planning a funeral within the last four years, together with 118 telephone interviews of funeral directors across all UK regions.