One in three don’t know how much a funeral costs – yet many of us worry about leaving our loved ones with large bills
Large numbers of people are unable to estimate how much a funeral costs.
his is probably due to the fact that a majority of people have not organised or paid for a funeral in Ireland in the last five years.
The average cost of a funeral is coming in at just under €6,000, according to a Red C survey commissioned by An Post Insurance.
Most survey respondents feel we need to be more open about discussing death and funeral arrangements, and large numbers of people think it is important to be financially prepared for funeral costs.
Despite a majority saying it is important to be financially prepared for a funeral, only one third feel that they are well prepared in terms of planning their own funeral and how the costs will be paid.
Many people worry about the prospect of leaving unwanted funeral expenses behind for loved ones.
Meanwhile, when it comes to choosing between cremation and burial, the report shows that those aged between 18 and 24 were least likely to choose cremation, while those aged over 65 were most likely to choose cremation.
Nearly one in three were unable to estimate average funeral costs in Ireland. An Post said this due to the fact that 84pc of respondents have not organised or paid for a funeral in Ireland in the last five years.
Awareness of funeral insurance is also quite low, with 60pc saying they were not aware it existed.
A third said they were aware of funeral insurance products, but only 4pc said that they have an insurance scheme in place.
An Post head of marketing Gary Finnerty said it is encouraging that so many people feel we need to be more open about discussing death and funeral arrangements.
He said it may seem insensitive to some, but pre-planning your own funeral can take some of the burdens off loved ones at a difficult time while ensuring you get exactly the funeral you want.
Mr Finnerty said: “We’re keen to help people understand that a funeral insurance product is a simple way to help prepare financially for the cost – or part of the cost – of your funeral.
“By taking out this policy, you can ensure that you leave your loved ones some money to take care of the cost of your funeral, or for other expenses.”