P564ORACLE 564 Mon17 Feb C4 1700:10
1/5
The cost of
dying
The Death Grant, first introduced in
1949, is soon to be a abolished. How
much does dying cost and what can be
done to reduce the burden on grieving
relatives, asks Sue Gorska.
A funeral can be expensive and there's
little help from the State these days.
When the Death Grant was first paid, it
was £20, the cost of a basic funeral
40 or so years ago. Today's rate of £30
has nowhere near kept up with inflation
─ but even this will go in the coming
Social Security shake-up, leaving only
a means-tested benefit.
more follows >
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P564ORACLE 564 Mon17 Feb C4 1700:16
2/5
The cost of
dying
Funerals are big business, involving
some £600m a year. The cost can be
anything from £350-650 depending on
where the funeral takes place and how
elaborate the arrangements. A fancy
coffin can itself cost £250, brass
handles an extra £70 or so.
Then there are the payments the Funeral
Director will make on the relatives'
behalf ─ crematorium and cemetary
charges, doctors' certificates and
clergy fees, for example, can add half
as much again to the basic funeral cost
more follows >
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P564ORACLE 564 Mon17 Feb C4 1711:22
3/5
The cost of
dying
The cost of dying starts with £2 for a
copy of the Registrar's entry of death.
Relatives may need a copy of the death
certificate before they can claim on an
insurance policy. If a cremation is to
take place, 2 doctors are required to
fill in a certificate, costing a BMA
fixed rate of £35.50.
When the bill is settled, VAT will be
charged on any extras like catering or
flowers, although the funeral itself is
not VATable. And, although most of us
might feel it distasteful to think
about the price at such a time, there's
often a discount for paying within a
certain amount of time.
more follows >
Your Money ...560 Tax Rates ...565
P564ORACLE 564 Mon17 Feb C4 1702:58
4/5
The cost of
dying
For anyone who wants to plan their
funeral in advance, the National
Association of Funeral Directors has
devised a Funeral Expenses Plan.
Available from the NAFD's 2,000 members
the Plan offers a choice of benefits
ranging from £600-1,500, which are
increased in line with inflation (by a
maximum of 10%). Payment can be by a
lump sum or regular fixed contributions
to a trust fund over 20 years.
Linked to Windsor Life Assurance
company, the Plan costs £6.90 a month
for a man of 50, £10.15 for a man of 70
both wanting cover of £600.
more follows >
Your Money ...560 Tax Rates ...565
P564ORACLE 564 Mon17 Feb C4 1713:04
5/5
The cost of
dying
If you don't want to specify the kind
of funeral, but do wish to spare your
relatives the worry of the expense,
taking out a whole life policy could be
the answer. The AA's Over-50 Plan
offers cover of £814 to a 65-year old
man for £4.95 a month. The same premium
would buy a woman of the same age some
£1,019 of cover.
Finally, undertakers J D Field & Sons
this week introduced a scheme offering
guaranteed pre-arranged funeral plans.
Pay your £615 for a traditional or £475
for a 'simplicity' funeral now and the
company guarantees you the funeral of
your choice when the time comes.
more follows >
Your Money ...560 Tax Rates ...565