Funeral costs a financial worry for six million people

Over six million people (13 per cent) live with the worry that they could not pay for a loved one's funeral according to research from the Post Office.

These worries are made all the more real given that seven in 10 (70 per cent) people aged over 50 have made no provisions whatsoever.

It's not just the money that worries people when funeral planning. One in five (20 per cent) adults say discussions about the arrangements have caused family feuds, and an additional 18 per cent said not knowing what a loved one wanted in terms of a funeral or life celebration also concerns them.

Duncan Caesar-Gordon, head of protection products at the Post Office, said: "Although many people do not want to be left any money, they may incur funeral bills, which is a worry for millions of people who want to provide the best possible funeral or life celebration in remembrance of a loved one.

"The reality is that funerals are one of those things that nobody wants to prepare for and as a result put little or no financial provision aside for it. This means that should the worst happen, family and friends would be the ones left to pay the bill, and the current average funeral cost over £2,200. Ultimately, this could mean that you don't end up with the funeral of your choice. However, this can be avoided with a simple plan, like Post Office Over-50s Life Cover, costing from just £7 per month."

The research also reveals that money isn't everything as financial inheritance from passed loved ones is not something most people actually want, with seven in 10 adults (73 per cent) preferring an emotional asset, such as a treasured possession or love letter.

Despite a financial inheritance being the most popular thing people want to leave behind (24 per cent) when they die, just 16 per cent of people said they would like to receive the money, instead preferring either a treasured possession (33 per cent) or a letter saying how much they were loved (22 per cent).

Gemini Adams, grief expert and author of Your Legacy of Love: Realise the Gift in Goodbye, said: "When it comes to preparing for the ‘worst' typically we're encouraged to write a will to share our financial assets, but what our surviving loved ones really need is a continuing bond, to help them remember us, and how much we cared.

"By leaving emotional assets, together with our financial assets, we can share our total ‘wealth'. Preparing for the end of life isn't very appealing, yet by taking advance action we can all realise the gift in goodbye, and leave a legacy that can help to alleviate the grief and suffering of our family long after we are gone."

The Post Office Over 50s Life Cover is guaranteed for all UK residents aged between 50 and 80 with no medical questions or checks needed. Customers can choose how much cover they want with premiums starting from as little as £7 a month.

To find out more about Post Office Over 50s Life cover or any other Post Office insurance policy, visit postoffice.co.uk