Royal London’s National Funeral Cost Index, a new annual study published in partnership with the Institute of Cemetery and Crematorium Management, shows the average cost of a funeral in the UK is now £3,551, and 109,000 Brits have incurred funeral debt.
Where life insurance payouts could cover these costs, many relatives are instead forced to use their own savings (35%) or pay for it on a credit card or a loan (20%).
Jerry Toher, chief executive of consumer division at Royal London Group, said: "We want to highlight the cost of funerals because, as our study shows, people are struggling to pay and this is causing household debt."
