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The average cost of a basic funeral has increased to £3,897 according to the SunLife Cost of Dying Report, 2016. That is more than twice as much as it was when SunLife first started tracking funeral prices in 2004, meaning the cost of dying is rising faster than inflation.

Some people set up a regular savings accounts to put money aside to cover funeral expenses, but with continuing low interest rates, there is no guarantee that money saved will cover the future cost of your funeral. With price increases likely to continue, SunLife has reported there is actually a real risk of a shortfall for people relying on regular savings.

Looking for an alternative, some people look to guaranteed over 50s insurance policies to cover their funeral expenses. Sold by many leading insurance providers, these whole of life insurance policies are often advertised as a convenient way to cover funeral costs.

Unfortunately, the vast majority of these plans do not have any associated funeral benefits and provide no guarantee that funeral director costs will be covered. The only thing these policies actually guarantee is a fixed lump sum at the time of your death.

Lump sum payments can seem attractive at the time we sign-up for them, but over the years, inflation eats away at their value. With a pay-out fixed years in the past, just as with regular savings, you risk leaving your family with the worry of a financial shortfall at the time they need it least.

This is in contrast to Golden Charter's Fixed Monthly Payment plan. This plan, backed by Phoenix Life Limited, gives our customers our lowest monthly payments, but still fixes funeral director's costs at today's prices, helping ensure that the funeral you want can be paid for.

With a network of over 3,300 funeral directors across the country the Fixed Monthly Payment option, as well as our Single Payment, 12 Monthly and Low Cost Instalment Payment options give you the chance to arrange your funeral in advance. So as well as not having to worry about how to pay for your funeral director's costs, your family will know which funeral director you have chosen and any special requests you have made, making things easier for them at a difficult time.

As the UK's leading funeral plan provider, Golden Charter offers a range of ways to guarantee that essential funeral expenses are covered.

  • We offer a choice of plans across a range of budgets
  • We have a variety of payment options available
  • We fix the cost of your funeral director's services included in the plan at current prices

Any money paid in advance is backed by a regulated insurance provider or held securely in an independent Trust. To find out more about funeral plans and payment options from Golden Charter, visit the Our Funeral Plans page, or call 0808 169 4534.

Golden Charter

Smart Planning for Later Life

Golden Charter has one of the largest networks of independent funeral directors in the UK. Many are long-standing, family-run businesses and all provide a compassionate and professional service.

Find out more about how you can plan for your funeral with one of the funeral directors in our network.