Almost half of all Brits are failing to plan ahead

Failure to plan ahead for death will lead to family and friends having to foot the bill in one in every 10 cases, according to a recent study by British Seniors Insurance Agency.

Carried out by Opinium Research, the survey showed that 23 million Brits of all ages haven’t considered making financial provision for end of life, nor have a third of over 50s.

The study also showed that a third of Brits don’t have a Will in place, specifying who will inherit their money, property and possessions when they’re gone.

This could create additional worry for loved ones at an already distressing time, with 42% of those who have had to cover the cost of a loved one’s death revealing that it contributed to their emotional stress.

And this is unsurprising, given the fact that 40% of those respondents had to take out a credit card loan, while 39% resorted to payday loans and one in five also had to take time off work. 18-34 year olds were most affected by the hardship of having to pay for a family member or friend’s funeral.

Tags: , , , , ,