Tag: SunLife

100,000 grieving families in financial difficulty left to cover £240m funeral bill

The cost of a simple, attended funeral has risen 3.5% in a year to £4,285 according to the 21st annual SunLife Cost of Dying report

  • 68% of people leave money behind to pay for their funeral, but only 38% leave enough – this lack of provision means that, on average, families are left to cover a shortfall of £1,695 – across the UK that’s almost £1bn
  • For 1 in 5 bereaved families – around 100,000 across the UK – covering this cost causes ‘notable financial concerns’
  • The shortfall for this group is higher at £2,370 – creating a total unpaid funeral debt of £240m which they are being forced to take on debt, ask loved ones for money, and even sell their belongings to cover
  • 75% say paying for a funeral impacted their mental health, while 60% said it impacted their physical health

The rising cost of funerals, combined with the fact only 1 in 3 people put enough provision in place to pay for them, is leaving some families with debt and impacting their mental and physical wellbeing, according to the 21st edition of the SunLife Cost of Dying Report.

The UK’s longest running report into funeral costs has found that the cost of a simple, attended funeral1 has risen 3.5% in a year to £4,285, while an unattended cremation (also known as a direct cremation) has risen 6.7% to £1,597.

The report also shows that while two thirds (68%) of people do make provisions to pay for their own funeral, only 38% leave enough to cover the whole cost. This lack of provision means that, on average, families are left to cover a shortfall of £1,695. 

While it is sometimes possible to release money from the deceased’s bank accounts for funeral costs before probate has taken place, a third of families are still left to cover at least some of the costs themselves, with 10% taking on debt to do so.

Cost of living crisis impacting families’ ability to cover funeral costs

According to SunLife’s findings, 33% of people who recently organised a funeral say the cost-of-living crisis impacted how they organised and paid for it. One in eight (13%) say they had to cut back on certain aspects of the funeral because they couldn’t afford it, and 10% say the cost of living crisis added an extra layer of stress.

One in five (22%) said paying for the funeral impacted their own standard of living, including 8% who had to cut back on essential items and 6% who struggled to pay essential bills.

1 in 5 suffer ‘notable’ financial difficulties paying for a funeral – and are struggling with £240m of funeral debt

The study also shows that for one in five (18%) families, having to find the money to pay for a loved ones’ funeral caused notable financial difficulties. This group have to find an average of £2,370 to cover the cost.

A quarter of those with notable financial concern report struggling to pay essential bills or rent, and 34% have to cut back on essential items such as food.  To make up the shortfall, one in four (24%) use a credit card, and 12% take out a loan to cover the cost. On average, this group take on £3,109 of debt.

A further one in four (23%) borrow from a friend or relative, while one in five (19%) sell belongings to cover the cost.

3 in 4 (75%) say paying for a funeral impacted their mental health, while 60% said it impacted their physical health. For some, costs may be recouped from the deceased’s estate once it has been administered. But, as a funeral typically takes place before probate, families may still be left struggling to cover the cost in the short term.

Mark Screeton, CEO at SunLife said: “Funeral costs have risen dramatically in the 21 years we’ve been tracking them. Back in 2004, the average cost of a simple, attended funeral was £1,835. Today, it stands at £4,285 – a staggering 134% increase, far outpacing inflation over the same period.

Couple this with the ongoing cost-of-living crisis and the fact that many people don’t leave enough provision to cover their funeral – or even share their preferences – and you have a situation where grieving families can be left struggling with debt at an already difficult time.

“Most of us have an idea of what we’d like for our own funeral, but we rarely communicate it. Our study shows just half of funeral organisers know whether loved ones wanted a burial or cremation, while other preferences are even less known. And with over £1,000 difference in cost between the two options, this can bring an extra layer of financial pressure when loved ones are worrying about ‘getting it right’.

“One of the kindest things we can do for our loved ones is to open up and plan ahead. We need to break the stigma around talking about death, start discussing the kind of send-off we want, and where we expect the money to come from. By doing so, we can spare our families unnecessary financial and emotional stress when the time comes.

“SunLife has a great free tool called My Perfect Send Off, which walks you through various funeral options and lets you record your preferences (or even lack thereof). You can then download and keep your wishes, or share them with a loved one.”

Read the full summary webpage and download SunLife’s comprehensive 2025 Cost of Dying PDF report at www.sunlife.co.uk/funeral-costs

sunlife-cost-of-dying-report-2025Download

AGEIST BRITAIN?

OVER A THIRD OF SCOTS REVEAL THEY FEEL NEGLECTED AFTER TURNING 50

·       Over a third (33%) of Scots revealed that 50 was the age they begun to feel neglected or invisible in society

·       36% of Scots over 50 don’t think brands advertise to their age and 17% don’t think magazines represent their age

·       Over half (56%) of Scots say that being neglected by society makes them feel underappreciated, and a third say it makes them depressed and anxious

·       This also impacted over 50s’ career decisions in Scotland, with a quarter (25%) admitting they feel they’re unable to apply for jobs because of their age

Over a third of Scots (33%) have revealed that 50 was the age they begun to feel neglected and invisible in society, according to new research by SunLife released today.

The research found that 56 was the average age Scots over 50 began to feel this way, and that over half (56%) of those over 50 said prejudice towards their age causes them to feel underappreciated, let down (34%) and depressed or anxious (36%).

The new Retiring Ageism report, which follows SunLife’s 2019 Ageist Britain campaign, surveyed 2,000 UK adults and analysed UK brands’ representation of over 50s across their marketing activity.

SunLife’s new research found that due to feeling neglected or invisible in society because of their age, a quarter (24%) over 50s living in Scotland are less inclined to try new things, and a third opt to stay home and miss events (31%).

A fifth (21%) of those over 50 said these feelings made them less inclined to keep fit, active and healthy, directly impacting their physical health. 

These feelings also influenced Scots over 50s’ career decisions, with a quarter (25%) admitting they didn’t apply for jobs because of their age and one in six (14%) not applying to a job they had wanted.

Feeling neglected also has a harmful effect on relationships, with 16% of Scots believing their friends and family don’t invite them out because of their age.

Claire Turner, Director of Evidence, Centre for Ageing Better, commented on the lasting effect misrepresentation can have on those over-50: “We know that ageism has a hugely devastating impact on people, and this report highlights the scale of the issue. Too many people are made to feel invisible because of their age.

“Ageism affects people at work, it affects people’s health, and it can affect the way they see themselves. Our research has found that many people over-50 believe they have been turned down for a job because of their age, and many have been put off applying for jobs as they sound like they’re aimed at younger candidates.

“From the casual ageism of products labelled ‘anti-ageing’ to the way we’ve seen older people spoken about during the coronavirus pandemic, it’s clear that as a society we’ve got a long way to go on this issue. It’s great to see this report shine a light on the issue, and contribute to the vital conversation around ageism.”

Across the UK, SunLife’s Retiring Ageism report found that misrepresentation of over 50s remains prevalent, with more than half of adults over 50 citing that the fashion industry (56%), the sports industry (52%) and the business industry (43%) fail to represent their age well.

Additionally, over three quarters (78%) of those over the age of 50 said they hadn’t seen accurate representation of their age bracket by companies or celebrity personalities within the past year, with Nike, Next and Adidas called out as the top three worst brands for representing over 50s.

The media has also been revealed to mischaracterise over 50s, with just 15% feeling as though national newspapers represented their age bracket well, and only 12% feeling well represented in local newspapers. Furthermore, 21% of 50-59 year olds felt as though they didn’t see people their age in magazines, with this rising to a quarter (24%) of 60 to 69-year olds.

Ian Atkinson, director of marketing at SunLife, added: “We want to keep shining a spotlight on the issue of ageism – specifically, on the misrepresentation of the over 50s in society and the media. Our new report has revealed that this is particularly prevalent in the workplace, advertising and the world of entertainment.

“Unsurprisingly, it can have lasting effects on the mental and physical health of those over 50 who feel misrepresented, causing them to alienate themselves from family and friends. By raising the profile of this problem, we want to continue our ambition of retiring ageism once and for all and encourage other brands to cater to this age bracket who deserve to be recognised.”

Alongside the report, this year SunLife will be actioning three pledges to encourage brands to celebrate life over 50 and help retire ageism once and for all. These include sharing the research and image galleries with leading UK charities to help support them with their initiatives aimed towards over 50s, as well as developing a series of best practice guidelines to assist brands and media.

SunLife found that when searching for imagery of older people, the results often portray an inauthentic view of life after 50 and embody ageist stereotypes. To help counter this, SunLife have embarked on creating their own image galleries, generating these from photoshoots using real people to help authentically show the positive side of life after 50.

The full report and opening foreword from Ian Atkinson can be viewed here:

 https://www.sunlife.co.uk/siteassets/documents/sunlife-ageism-report-2020.pdf