{"id":23803,"date":"2024-04-30T10:55:32","date_gmt":"2024-04-30T09:55:32","guid":{"rendered":"https:\/\/new.contentdeployment.co.uk\/tomd\/?p=23803"},"modified":"2024-07-03T12:01:47","modified_gmt":"2024-07-03T11:01:47","slug":"the-cost-of-dying-relieving-the-pressure","status":"publish","type":"post","link":"https:\/\/new.contentdeployment.co.uk\/tomd\/2024\/04\/30\/the-cost-of-dying-relieving-the-pressure\/","title":{"rendered":"The cost of dying \u2013 relieving the pressure"},"content":{"rendered":"
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Nearly half (48%) of adults aged 18 to 40 don\u2019t have life insurance<\/strong>1<\/sup><\/strong>. This puts many in a precarious position, as the unfortunate reality is that the cost of dying is high.<\/strong> <\/p>\n<\/div>\n\n

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Research has found that a premature death can cost surviving family members an average of \u00a3195,475 over the course of ten years2<\/sup>. These estimates are based on the hypothetical basis that someone leaves behind a partner and two children. The figure fluctuates depending on the location \u2013 London is the most expensive area (\u00a3261,754), while North East England is the cheapest (\u00a3130,160). The average cost in Wales was calculated to be \u00a3147,858 and it was \u00a3153,631 in Scotland. <\/p>\n<\/div>\n\n

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Higher funeral costs<\/strong> <\/p>\n<\/div>\n\n

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Of the adults under forty who do have life insurance, 27% said they took cover out to pay for a funeral. This is an important cost to consider as a recent report has found that the average cost of dying, which includes a funeral, professional fees and send off costs, is at a record high of \u00a39,6583<\/sup>.\u00a0<\/p>\n<\/div>\n\n

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Mitigate the pressure on loved ones <\/strong> <\/p>\n<\/div>\n\n

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Whatever your age, it is advisable to seriously consider taking out life insurance if you have dependents. Planning ahead now could significantly alleviate the stress on your loved ones, should anything happen. <\/p>\n<\/div>\n\n

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We can find the appropriate level of cover based on your specific circumstances and can advise you about writing the policy in trust so that the money will go directly to your chosen beneficiaries. This is also something that could be a useful tool for IHT planning, so get in touch. <\/p>\n<\/div>\n\n

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1<\/sup>,<\/sup>2<\/sup>Beagle Street, 2023 <\/p>\n<\/div>\n\n

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3<\/sup>SunLife, 2024 <\/p>\n<\/div>\n\n

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The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated. The Financial Conduct Authority (FCA) does not regulate Will writing, tax and trust advice and certain forms of estate planning.<\/strong> <\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

Nearly half (48%) of adults aged 18 to 40 don\u2019t have life insurance1. This puts many in a precarious position, as the unfortunate reality is that the cost of dying is high.  Research has found that a premature death can cost surviving family members an average of \u00a3195,475 over the course of ten years2. These […]<\/p>\n","protected":false},"author":4,"featured_media":23804,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,89,90],"tags":[],"hd_content_source":[],"_links":{"self":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/23803"}],"collection":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/comments?post=23803"}],"version-history":[{"count":6,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/23803\/revisions"}],"predecessor-version":[{"id":25072,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/23803\/revisions\/25072"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media\/23804"}],"wp:attachment":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media?parent=23803"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/categories?post=23803"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/tags?post=23803"},{"taxonomy":"hd_content_source","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/hd_content_source?post=23803"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}