18th August 2020
Further key findings from the Sydney Funerals Co. Affordability Report:
6 in 10 Australians (61%) have concerns about the cost of funerals
46% of those concerned say that they will not be able to cover the costs of themselves or a loved one
32% of Millennials are concerned that they will not be able to cover the costs of themselves or a loved one.
26% of Australians have no concerns at all as all their family have loved ones have savings and financial plans to cover these costs
Australian men are more likely than women to be concerned about the uncertainty of how much money to gift a family member going through the loss of a love one (19% compared to 13%)
Australian men are more likely than women to be concerned about whether to be buried or cremated due to cost implications (20% compared to 14%)
*Research Methodology - This study was commissioned by Sydney Funerals and conducted by YouGov Galaxy online between 29th July and 3rd August 2020. The sample comprised a nationally representative sample of 1045 Australians aged 18 years and older. YouGov Galaxy designed the questionnaire. Following the completion of interviewing, the data was weighted by age, gender and region to reflect the latest ABS population estimates.