The average cost of a funeral in Ireland has risen to €6,000, a new survey has found.
The study, conducted by People Insurance, found that funeral costs are rising in Ireland and that more and more people are paying for the funeral of a loved one out of their own pocket.
Two thirds of people over 55 in Ireland said they or someone close to them had to pay for the funeral of a loved one.
A quarter of people said they have used their own personal funds to pay for the funeral of a loved one, while around 30 per cent of funerals in Ireland are paid for from the deceased person’s estate.
“Ideally, we would take every step in relation to financial planning for our own deaths, as the last thing many of us want is for a loved one to go into debt to pay for our funeral.
“Funerals are expensive and are likely to become more expensive given the impact of inflation and the general rising cost of goods and services,” said Paul Walsh, CEO of People Insurance.
Out of 1,000 people surveyed, the largest cohort – 40 percent – said the price of a funeral ranged from €3,000 to €6,000, while costs “vary widely between €3,000 and €10,000”.
“We looked at the costs reported by several funeral directors in Ireland such as B. Purchase of property and coffin, undertaker costs, funeral fees, music and flowers.
“What is clear is that while total costs can vary widely, funerals in Ireland can undoubtedly be a costly affair and it is often left to the deceased’s loved ones to meet these costs.
“While some people make their own funeral plans in advance and maybe put some money aside to fund them, there are many others who never get to make those kinds of preparations, leaving their family or loved ones in charge of the decision how to pay for the exit when the time comes.
“While three in ten respondents say funerals were paid for from the deceased’s estate, it should be noted that these funds are often not available until the probate process is complete, which in Ireland at present can take up to 6 months,” Mr Walsh said.
https://www.independent.ie/news/new-cost-of-irish-funeral-revealed-as-they-are-not-immune-to-inflation-42163654.html New Irish funeral costs revealed as ‘not immune to inflation’