SunLife’s Post

Saving money without having funeral cover comes with certain risks and challenges. Here are key reasons why relying solely on savings might not be the best approach for covering funeral expenses: 1. **Unpredictable Timing**: Death can occur unexpectedly, and it’s difficult to predict when you’ll need to pay for funeral expenses. If you haven’t accumulated sufficient savings by the time of need, your family could face financial strain. 2. **High Immediate Costs**: Funerals can be very expensive, often costing several thousand rands. Without funeral cover, your savings might not be enough to cover these costs, forcing your family to deplete their savings or take on debt. 3. **Inflation**: The cost of funerals tends to rise over time. Savings may not grow at the same rate as inflation, meaning that what you save today might not be enough to cover future funeral costs. #funeralcover #financialadviser #savingmoney #lifeinsurance

With so many strains due to the current cost of living challenges, it can be hard to think ahead about planning for later life & the costs of our funeral. But it’s important to be aware of these and understand how we can help our loved ones by talking about the kind of send off we want. It’s something us Brits are really not very comfortable doing. Less than 1% claiming to know all our loved ones wishes & a staggering 51% not knowing if their loved one wanted a burial or cremation. Just talking about this topic more could help those managing funerals feel a lot less stressed about getting it right, & better able to decide where to cut costs and still provide a good send off. Lots of food for thought in our annual #CostofDying report, launched yesterday. Check it out at https://lnkd.in/euJFDbsK

Funeral costs are often the last thing we’d like to think about, but with prices increasing year on year, it’s perhaps something we should be prepared for. To help you we’ve updated our funeral cost comparison at https://lnkd.in/eGwyAwDb

Planning for the inevitable may seem daunting, but it's essential for easing the burden on your loved ones during a difficult time. Funeral cover ensures that your final arrangements are taken care of without placing a financial strain on your family. By securing funeral coverage, you provide your loved ones with peace of mind and the opportunity to focus on honoring your memory. Here are 3 disadvantages of NOT having funeral cover: 1. FINANCIAL STRESS: Without funeral cover, your family may struggle to cover the expenses associated with a funeral. This adds financial stress to an already emotionally challenging time. 2. POTENTIAL DEBT: Without proper coverage, your loved ones may resort to taking on debt to pay for funeral expenses, leaving them burdened with financial obligations. 3. LACK OF PREPARATION: Failure to plan for funeral expenses can result in rushed decisions and compromises on the quality of the funeral service, which can affect the grieving process. So in conclusion, don't leave your loved ones to shoulder the financial burden of your final arrangements. #FuneralInsurance #FinancialPreparation #FinalExpenses #InsuranceAdvisor #PeaceOfMind #PlanningAhead #FinancialSecurity #FamilyProtection #HonorYourLegacy

The overall cost of dying in 2024 hit an all-time high of £9,797 and only about a third of people made any provision to cover the costs, leaving 1 in 5 families in financial difficulty and many reporting an impact on their mental and physical health. In what I often refer to as the 'retirement planning threesome', advisers should ensure that customers have made a Will, Lasting Powers of Attorney and provision for funeral costs. As many do not want to set aside a lump sum, it can be as simple as recommending a single life whole-of-life plan in trust (avoiding probate delays), which for a 65yr old M/F, only costs from £25pm each (Zurich quote@16/1/25). Speak to your Zurich UK Protection Consultant to find out more.

Our members are seeking to find any customers who have changed address and not informed their provider. Please share this post with any of your contacts and organisations who engage with the elderly. Customers like funeral plans because they make clear their end-of-life wishes and help get their affairs in order. It can be heartbreaking for a family if those wishes are not followed because they were unaware a plan existed. Our members recommend plan holders share the information with relatives and close friends and send regular communications to remind plan holders. It’s easy to forget to tell a company when we move home, and sometimes it's difficult for providers to trace customers. Accordingly our members are urging any plan holder who hasn’t received a statement from their provider recently to get in touch, particularly if they have changed address since buying the plan.’ Funeral plans are a simple way to organise the ‘send-off’ you want while putting aside the funding. Now regulated by the FCA, and underpinned by the Financial Services Compensation Scheme, they have never been more secure. If you haven’t heard from your provider recently, contact them, particularly if your address has changed.

Pre-Planning Made Simple with Fox Funeral Home Planning a funeral can be overwhelming, but at Fox Funeral Home, we strive to make it as easy and stress-free as possible. Pre-planning your funeral not only ensures that your wishes are honored, but it also relieves your family from the emotional and financial burden during a difficult time. Why Pre-Plan? *Peace of Mind: Your family won't have to make tough decisions during their time of grief. *Cost Control: Lock in today's prices and avoid future inflation. *Personalization: Ensure your service reflects your unique life and values. *Flexible Payment Plans* We understand that finances can be a concern, which is why we offer flexible payment plans. Our options allow you to pay over time, making it easier to manage the costs and ensuring that your family won't be left with unexpected expenses. Taking the step to pre-plan your funeral is a thoughtful and considerate gesture for your loved ones. Contact Fox Funeral Home today to learn more about our pre-planning services and payment plans. Let us help you secure peace of mind for you and your family. 📞 Call us at 307-362-3876 or visit https://lnkd.in/gNrQ8aqq to get started. #FoxFuneralHome #PrePlanning #PeaceOfMind #FamilyFirst #FuneralPlanning #LegacyPlanning

Considering your own funeral expenses.  Planning a funeral can often make people reconsider their own plans. It is comforting to know that funds are set aside for your loved ones in the event of their passing. Coping with loss is never easy. Dealing with funeral costs can exacerbate an already stressful situation. You could create a savings account specifically for your funeral or look into a pre-paid funeral plan. For any help, advice or information, please get in touch: 📞 01603 702702 #FuneralExpenses #FuneralPlans #NorwichFuneralDirectors #FuneralDirectors #PlanningAFuneral