Many people underestimate the costs of a funeral, and so not many are prepared when they lost a loved one. In the UK, particularly in London, the average cost for the services of a funeral director is £9,493. This amount is difficult to pay for most families, not to mention those who did not expect the loss at all.
That said, here are the ways you can pay for a funeral if you cannot afford to shell out cash upfront:
1. Funeral plans
People at any age can pay in advance for their funeral, even if they are decades away from the last stages of their life. A prepaid funeral plan will cover your choice of funeral products and services at the current rates. When the time comes, your funeral plan will cover the majority, if not all, of your funeral expenses. Th, the loved ones you leave behind will have less to worry about and have more room to grieve properly.
Families can turn to friends and family in times of need by asking for funeral donations. With the popularity of crowdfunding websites, families can easily call for help on social media pages, where relatives, friends, and colleagues can pitch in for the funeral.
3. Consider cremation
Cremation is typically less expensive than a burial since you won’t need a cemetery plot or a funeral service. If your family is open to the idea of cremation for your loved one, consider going for that option instead of a traditional burial.
4. Use your credit card
Taking on debt for funeral costs is generally not recommended, but when you have limited choices, using your credit card or getting a funeral loan can be an easy option for you and your family. To minimize your expenses, look for a loan with the lowest possible interest.
5. Donate the body
If you want to forgo the funeral services altogether, you can donate the body to medical science or people in need of organs. However, the required paperwork must be completed by the donor in advance. Medical schools or hospitals will not accept just any body as well, so consider this as a loose possibility.
6. Use life insurance payout
Another common option for many families is to use the deceased’s insurance policy to pay for funeral services. However, there is no guarantee that the payout will be received in time for the funeral. Speak with the insurance provider as soon as you can to clear up when you are receiving payment. If it will take longer than expected, consider loaning the amount for the meantime then using the insurance money to pay off the debt afterward.
If the deceased was employed before their death, they might be eligible to receive funeral assistance from their employer. Consider other sources of help as well, such as veteran’s benefits, government agencies, and victims’ compensation, whichever is applicable for the deceased.
Whatever option you choose, be sure to weigh the advantages and disadvantages carefully before proceeding. In any case, go with the option that will be best for your family and the deceased’s wishes.