When shown the average cost of a cremation or burial in Britain, 41% believed their families could get into debt without access to their estate within a week.

Those questioned underestimated the cost of a burial, with two thirds estimating £4,000 or less, while the UK average is £4,690.

When asked to estimate cremation charges more than half estimated the cost at £3,000 or lower, the average cremation in the UK costs £3,239.

After costs were revealed 16% of families said they “were shocked” by the cost of funerals.

The main reason for not making a provision for a funeral was a lack of money to save towards one, while 4% thought the state would pay.

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The average length of time for probate to be completed on an estate is six months, 5% of those polled thought their families would have instant access.

Of the 2000 people polled, 56% had not made a will, which can lengthen probate.

Stuart Tragheim, sales director at Engage Mutual, said: “What’s clear from our research is that when there’s a death in the family, people need access to money and they need it quickly.”

Tragheim added: “It shows how important protection is and how fast payment benefits such as the nominated beneficiary option, can be a valuable safety net.”