Only 17% of over 50s have life insurance to cover funeral costs

OneFamily research shows

Jaskeet Briah
clock • 1 min read

Only 17% of over 50s have arranged for their funeral costs to be completely covered by a life insurance policy, research by OneFamily shows.

Meanwhile, one in 10 over 50s expect their loved ones to use proceeds from selling their house or assets from their estate after their passing to cover funeral costs, according to a survey of 2,000 over 50s. Overall, 42% of respondents have a savings pot in place to cover these costs, although 38% said they can't afford to put money into savings. One in five (20%) of those who haven't made any financial provision for their funeral costs said they don't want to think about it, and 17% who are unsure how their funeral costs will be covered have no savings in place to pay for this. On...

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