Funeral Planning

Part of the Life Well Spent Report 2026

Funeral planning can be an important aspect of later life finances for many. But how do people prioritise this against other spends?

1 in 10 UK adults have bought a funeral plan

While no one likes to think about what may happen after they die, a pre-arranged funeral plan can ease the pressure on loved ones organising the ceremony or wake, when the time comes.

In fact, 11% of UK adults and 17% of over 50s have already put a funeral plan in place. So have 6% of under 50s, with 5% of those aged 18-29 saying they have a plan in place. Perhaps unsurprisingly, those aged 70 or above are most likely to have a funeral plan (23%).

While only 14% of the happiest adults say they have a funeral plan, 30% say they intend to purchase one in the next five years. Of the least happy, 9% have a funeral plan in place and only 23% intend to buy one in the next five years.

1 in 3 sacrifice other spending in order to buy a funeral plan

While two thirds (67%) of those who buy a funeral plan are able to carry on as normal, 1 in 3 UK adults cut back their spending in other areas. For over 50s, only 23% cut back their spending in other areas, while 57% of under 50s found that buying a funeral plan affected their outgoings elsewhere.

What consumers would rather spend on instead of a funeral plan

	Over 50s	Under 50s
Giving financial support to family members	26%	17%
A dream holiday or major travel experience	25%	38%
Giving a cash gift or early inheritance to a loved one	24%	35%
Paying off debts or loans	21%	35%
Purchasing a major item (e.g. a car, home furnishings or technology)	17%	18%
General day-to-day living expenses	14%	2%
Contributing to a pension or other investments	11%	25%
Reaching another important financial goal		5%

3 in 10 sacrifice a dream holiday for a funeral plan

Of those who sacrificed something else in order to afford their funeral plan, 31% say they would have preferred to have a dream holiday or major travel experience.

Others would prefer to have given a cash gift or early inheritance to a loved one (30%), paid off loans and debts (28%) or given financial support to family members (21%).

For over 50s, after giving financial support to family members (26%), they would have preferred to use the money to go on a dream holiday or major travel experience (25%), give a cash gift or early inheritance to a loved one (24%) or pay off debts and loans (21%).

Plan your perfect send off

If you're interested in planning what you would like for your funeral so that your loved ones know what your wishes are, why not use our My Perfect Send Off tool.