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A simple way to help with your funeral costs

Planning to help loved ones financially when you’re gone? Don’t overlook funeral costs. Over 50s life insurance is a simple way to help ease the load.

How will you pay for your funeral?

Death and funeral costs, especially our own funeral costs, are subjects you’d probably rather avoid.

But, if you want to help those closest to you when you’re no longer around, facing up to the inevitable could make a big difference to them at what will no doubt be a difficult time.

You may not know that the average cost of a funeral in the UK is now £4,271 – that’s the cost of the basic funeral, not extra costs like flowers, the wake and a headstone or memorial, all of which add to the final funeral bill.

The total costs can end up being much more when you add them all together. Use our funeral calculator to find out the cost of a funeral in your area.

How over 50 life insurance could help with funeral costs

The good news is there are steps you can take to reduce funeral costs but they can’t be sidestepped altogether.

The simple reality is someone’s going to have to foot the bill for your funeral. That’s why putting some plans in place to help now, even in a small way, could make all the difference when the time comes.

Over 50s plans allow you to pay in a small sum each month – premiums start from under £4 – and when you pass away, your loved ones will be given a lump sum to go towards whatever costs they may be facing.

If you stop paying your premiums, your insurance will end and you won’t get anything back.

The plan is a straightforward and affordable way to leave some money that could be put towards your funeral bill. You can also choose to add Funeral Benefit Option and have the money paid directly to Dignity Funerals be taken off your funeral bill.

This option also lets you record any wishes you have and means professional help will be there for your family as soon as it’s needed. What’s more, Dignity Funerals will contribute an extra £300 towards the funeral

Average cost of a funeral

funeral cost by UK region

Why might over 50s life insurance be right for you?

An over 50s plan is a simple way to guarantee a lump sum for your loved ones when you die.

While a funeral plan will go directly towards covering the cost of your funeral, an over 50s life insurance plan goes straight to your loved ones, so they can use the money how they wish. Inflation reduces buying power over time.

For some people, this means spending more on the wake or send-off, than on the funeral service itself. For others, it might mean ensuring that the costs of a traditional burial are covered.

So long as you pay your premiums every month, after 1 year, whenever you pass away, your loved ones will receive a full cash payout. You may end up paying in more than is paid out.

To help you start thinking about the type of funeral you might like, or where you might want the money to be spent, try our My Perfect Send-Off or try our Funeral Planning Mapper to see services local to you.

All funeral figures have been taken from the SunLife Cost of Dying Report 2018.

Here's the information that you need to know about who we are and the other companies that we work with in order to provide our products and services.

Who are SunLife?

Phoenix Life Limited trades as SunLife and is the provider of the Guaranteed Over 50 Plan, SunLife Insurance and the life insurance policy payment option for Funeral Plans. Phoenix Life Limited’s registered office is at 1 Wythall Green Way, Wythall, Birmingham, B47 6WG (registered in England, no. 1016269). 

SunLife Limited distributes financial products and services and is a company limited by shares, registered office: 1 Wythall Green Way, Wythall, Birmingham, B47 6WG (registered in England, no. 05460862). SunLife Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register (registration no. 769427).

You can contact us by post at SunLife, PO Box 1395, Peterborough, PE2 2TR or by phone on 0800 008 6060.

If you choose to add Funeral Benefit Option to your Guaranteed Over 50 Plan, Dignity Funerals Ltd arranges and provides the funeral services, registered office: 4 King Edwards Court, Sutton Coldfield, West Midlands, B73 6AP (registered in England and Wales, No. 00041598). Dignity Funerals Ltd is a member of the National Association of Funeral Directors.

Who provides the Funeral Plans?

Dignity Funerals Ltd arranges and provides the funeral services, registered office: 4 King Edwards Court, Sutton Coldfield, West Midlands, B73 6AP (registered in England and Wales, No. 00041598). Dignity Funerals is not authorised or regulated for this activity by either the Financial Conduct Authority or the Prudential Regulation Authority. Dignity Funerals Ltd is a member of the National Association of Funeral Directors.

The life insurance policy that pays for your funeral will be provided by Phoenix Life Limited, trading as SunLife.

Who provides My Smarter (ISA)?

My Smarter (ISA) is provided by Scottish Friendly Asset Managers Limited. Authorised and regulated by the Financial Conduct Authority. Details can be found on the Financial Services register, registration No. 188832. Member of The Investment Association. Registered Office: Scottish Friendly House, 16 Blythswood Square, Glasgow G2 4HJ.

Who provides the Will writing services?

Hugh James is authorised and regulated by the Solicitors Regulation Authority (SRA Number:303202).

The information contained on this website is based on Hugh James' understanding of the law of intestacy in England and Wales only as at April 2014. The law in Scotland and Northern Ireland is significantly different. This is for information purposes and is not intended to be legal advice.

Who provides SunLife Pet Insurance

SunLife Pet Insurance is arranged and administered by BDML Connect Limited. BDML Connect Limited is authorised and regulated by the Financial Conduct Authority (No. 309140). Registered in England and Wales Number 02785540. Registered Office: 45 Westerham Road, Bessels Green, Sevenoaks, Kent, TN13 2QB.

Who provides SunLife Home Insurance

SunLife Home Insurance is arranged and administered by BISL Limited and underwritten by a panel of insurers. BISL Limited are an intermediary authorised and regulated by the Financial Conduct Authority. Registered in England no. 03231094. Registered office Pegasus House, Bakewell Road, Orton Southgate, Peterborough PE2 6YS.

Who provides SunLife Car Insurance

SunLife Car Insurance is arranged and administered by BISL Limited and underwritten by a panel of insurers. BISL Limited are an intermediary authorised and regulated by the Financial Conduct Authority. Registered in England no. 03231094. Registered office Pegasus House, Bakewell Road, Orton Southgate, Peterborough PE2 6YS.