Scots encouraged to consider funeral planning amid many planning to fund send-off with savings

A life insurance firm is encouraging people to set aside time for funeral planning after finding that almost two in five Scots will need to use their savings to cover the high costs of their own send-off.

MetLife has put together a UK-wide report, titled The Last Word: Tackling the death and funeral planning taboo, also finding that 42 per cent of respondents north of the Border say they haven’t spoken to anyone about their death/funeral planning. Of those who have, a third have spoken to their partner/spouse and 18 per cent with their children.

The firm also discovered that almost half of Scots confirm that they haven’t spoken to anyone about who might carry out the planning of their funeral, but 38 per cent believe their spouse/partner would take charge when the time comes.

Furthermore, rather than dip into their own savings, 21 per cent will instead use a life insurance policy to cover costs. MetLife added that although many respondents plan to use their nest egg to pay for funeral expenses – also found by the report to be two in five at a UK level – such aims come as rising everyday costs have eroded people’s outgoings.

MetLife UK says: 'For those UK adults expecting to use their own savings to pay for their funeral, there are other options available.' Picture: Getty Images/iStockphoto.

Separately, Fidelity International, which specialises in investment and retirement, recently stressed the importance of regularly putting something in the piggy bank where possible, but noted how Scots’ own saving plans are being hampered, with providing financial support for loved ones a major blocker to investment plans

MetLife cited civil servant and father-of-two Imran Afzal, who lives in Dundee, saying: “I did a bit of everything when arranging the funeral of my grandfather, including the food and drink, finding a funeral director, inviting friends and family, and arranging prayers at the mosque. I felt really emotional because I was really attached to him, I would be arranging it and [crying], but it had to be done to send him off properly. I haven't given my own funeral a thought, but I would not want to put a financial burden on my family, so I have some savings and am thinking about taking out a funeral plan.”

Adrian Matthews, head of employee Benefits at MetLife UK – which debuted in 2007 and is part of New York-based giant MetLife that can trace its roots back to 1868 – said: “Funeral planning is an emotional and personal experience which many people choose not to think about. Although death is a taboo subject, this shouldn’t be the case. Funeral planning is important, because it allows individuals and their loved ones to make thoughtful and practical decisions. It ensures that final wishes are carried out, financial burdens are minimised, and the grieving process can be more focused on healing and remembrance rather than logistical concerns.

“For those UK adults expecting to use their own savings to pay for their funeral, there are other options available. Through MetLife’s new Group Life proposition, over 1.4 million employees throughout the UK can now access exclusive resources and assistance for funeral planning, as well as express their preferences.”