Planning ahead could help your loved ones tomorrow

Monday, October 07, 2013

As the adage goes - the only things certain in life are death and taxes but in today's world, the continued rise in the cost of living could also be added to the equation with everyday costs constantly creeping up. However, a less well observed area of life that has seen, and will continue to see, an unprecedented rise in costs is funerals.

The average cost of a basic funeral in 2012 was £3,122* and this is estimated to increase to £4,865 by 2020** rising further to £5,435 by 2022. An increase of almost 75% in 10 years which could mean a significant financial hit to your relatives.

With the Foresters 50+ Life Cover policy you can make sure your family has some money to help towards the cost of your funeral or outstanding bills as soon as you die.  The Foresters 50+ Life Cover policy provides guaranteed acceptance, regardless of past health problems, as long as you are a UK resident aged 50-80 and is available from as little as £10 a month with premiums guaranteed never to increase. 

Foresters Marketing Director, Neil Armitage said: "We all do our best to protect and support our loved ones and, as we get older, it's important to plan ahead to avoid causing them unnecessary financial hardship when we are no longer around.  Whether that's a financial gift for children or grandchildren, or a lump sum to help pay any outstanding bills or contribute to the cost of your funeral.  Foresters 50+ Life Cover policy is an easy, affordable way to leave a guaranteed lump sum and is available to a beneficiary as soon as you die, without having to wait for your estate to be sorted out."

The 50+ Life Cover policy is not a funeral or savings plan and therefore doesn't guarantee to cover all your funeral costs.  Should you die during the first two years of your policy we return all the premiums you have paid to your dependents, unless you die from accidental death when we pay out your full lump sum.  Please remember that inflation will reduce the spending power of the lump sum payout in the future.

*Source : LV= cost of funeral research - Consensus Agency. January 2012

**Based on a projection in the current rise of funeral costs over the past 10 years. Please be aware this is only a projection based on the LV= cost of funeral research.