How much does a funeral cost?
Knowing a little more about paying for a funeral can help put your mind at ease about what’s involved. The cost of a funeral might be different depending on where you live and the type of funeral you choose.
Funeral cost estimator
If you want to find out more about funeral costs, you can use the funeral cost estimator provided by Aviva. This handy tool uses your location to help you work out how much a funeral may cost.
If you need more help, you can speak to a funeral director or funeral provider to get advice on the different pricing options.
Use the estimator.
Who pays for a funeral?
Anyone can choose to pay for a funeral however, it’s usually the deceased person’s spouse or children who will pick up the costs.
The person who is arranging the funeral can either pay for it themselves, split the cost with other family members, or pay and then claim the money back from their loved one's estate.
It’s also a good idea to speak to the bank or building society of the person who’s died, to see if you can put the money from their account towards the cost of their funeral. The bank will then pay the funeral director directly from their account.
Paying for a funeral yourself
If you want to cover your own funeral costs, or you know you’ll be the one paying for the funeral of someone who’s passed away, you may want to think about saving so you can have the money ready. You should also check that to see if the person has a life insurance policy in place.
Keep in mind that the cost of funerals may go up. This means you might need to top up your savings to make sure you have enough to put towards your funeral, as inflation means the value of your money will go down over time.
Paying from your loved one's estate
If someone dies, the money to cover the cost of their funeral can be taken out of their estate. Keep in mind that this can take some time, and the person organising the funeral might have to pay upfront with their own money.
It might be quicker to ask the bank or building society of the person who’s died to pay the funeral director with money from their account.
Options for covering the cost of a funeral
Funeral plan
A pre-paid funeral plan is a way to arrange and pay for your funeral in advance.
A funeral plan will normally guarantee to cover the cost of your funeral.
For further information speak to an independent financial adviser or funeral director.
Over 50s life insurance policy
Over 50s life insurance is designed to cover you for the rest of your life. This type of cover can give your family a lump sum if you die, which can be used towards the cost of your funeral.
Over 50s Life Insurance has no cash-in value at any time. The lump sum paid is fixed, so inflation will reduce what it can buy in the future. You should review your cover to make sure it remains adequate over time. Depending on how long you have the policy for, the amount paid out on your death may be less than the total amount you’ve paid in premiums.
Savings
Another option is to put money into a savings account so it can be used towards your funeral.
The person paying for the funeral can then see if it’s possible for the bank or building society to pay the funeral director with the savings.