Over 50 Guest Bloggers


A range of articles from the best Over 50s bloggers from around the world

5 Oct 2017

Moments for Making Plans & The Growing Cost of Dying

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Discussing what happens when we die can be difficult, and often the older we get, the more we may be tempted to put off such thoughts and conversations, even though we know we really shouldn’t. It’s only human.

But then there are moments when the greater good of these conversations is more immediate and it gives us the courage and momentum to think about our own legacies and the impact our passing may have on our families. For instance, the birth of a child, a family gathering or celebration, or even the passing of a loved one.

We’re currently seeing another one of those moments. Why? Well it’s not as joyous as the arrival of a new grandchild or a big family Christmas and gladly, not as sad as the passing of a loved one, but it is important for people looking to the future none the less.

At this time of year companies like ourselves compile and share data on the true costs of funerals, dying, and how we want to be remembered. We will see people talking in newspapers and on TV about costs going up and how this is putting many people into debt. However, we mustn’t ignore the real human impact of headline figures often so large they lose meaning, when the consequences of these numbers are incredibly real, personal and human.

Yes, mixing talk of money and mortality can feel uncomfortable, but it’s part of an important effort to educate as many people as possible - especially the over fifties - on the costs of things like burials, cremations, services and send-offs, which are often underestimated and taken for granted.

Just over half a million of us pass away each year and according to our own research, around a quarter of these people’s estates and funerals are managed by someone, often a child or grandchild, who ends up going into debt to meet the costs. That’s over 130,000 people going into debt every year to help pay for a loved ones’ funeral.

The average cost of a funeral in the UK has typically been around £4,000* in recent years, with additional items like headstones or send offs often pushing this cost even higher. We’re sure nobody would want to think of leaving debt as their legacy, which is why we’re encouraging as many people as possible to take time to understand these final costs and avoid passing them on.

Of course, the real impact of these costs is human and emotional – debt creates stress, anxiety and worry which is why we want to reassure anyone reading this, that there are simple, affordable measures they can put in place to help manage the big numbers they may see in the news.

One of those measures is over 50s life insurance, which can pay up to £20,000 to your named recipient when you die to help them cover the costs of your funeral and other final costs.

Most policies cover any UK resident aged 50-80, where you are guaranteed to be accepted without asking any medical questions.

For those looking for peace of mind without breaking the bank, we have an over 50s life insurance policy offering peace of mind from as little as £5.80 per month, meaning you can go on enjoying life without the worry of what costs may be left to your loved ones.

In addition, at British Seniors we also created a policy with the added protection of a Lifetime Payback Guarantee® to offer extra reassurance for those considering what happens if they live to an old age. It means we’ll pay your loved ones an amount equal to all the premiums paid or the original benefit amount, whichever is more. No other over 50s life insurance provider offers this protection.

If you think you’d benefit from the Lifetime Payback Guarantee®, you can get more information here, to learn about our range of standard over 50s life insurance, click here or click here to get a quote.

*The Grave Reality of Dying Report Neilson Financial Services 2016

**SunLife Cost of Dying Report 2017