Do Sun Life exaggerate the cost of dying?
I can’t help a little cynicism when I read a report by Sun Life that the cost of dying has now reached on average £7248. It is very much in the business interests of Sun Life to create a bit of panic at the thought of such costs being incurred at a difficult time.
Sun Life have created a considerable business around financial planning for the time of death and it suits their purposes nicely if people feel a need to extend the money put to one side for the time. Not only do Sun Life vigorously market plans to pay for funerals but also the over 50’s plans that are often sold as life assurance but are then subjected to attempts to convince the policy holder to charge the anticipated fund to a national funeral director of Sun Life’s choosing. All of which is very profitable to Sun Life but seemingly of little benefit to the policy holder as it removes their choice and their negotiating position.
At Tapper Funeral Service we will continue offering prepaid funeral plans from an all inclusive £1950 so that our clients can aim to spend less than Sun Life’s average cost of dying.
http://www.sunlifedirect.co.uk/assets/FinalMatters/FuneralsAndPlanning/RisingCostOfDying.html