The Funeral Plan Market Reviewed.
Here at the Prepaid Funeral Review, we have had a really interesting year so far. Lots of changes and a booming market mean constantly updating our research so we can offer unbiased advice from across the market.
The market is bewildering and most people are aware of the firms with big marketing budgets. But remember that YOU will be paying for the advertising if you buy their hyped up plan. And their salesforce is ONLY going to sell their plans!! We hear of members of the companies direct sales force earning six figure incomes (note to self – should I apply for a job?!)
We are particularly proud of our negotiations which have resulted in The Family Funeral Plan – one which can be used by the first member of the family to die, even if that should be unexpected. Every family should have one of these, and replace it once it is used, just as a basic precaution against the substantial extra expense of an unexpected funeral. Much better value than life insurance which helps out only if a specific person dies. But of course, that plan is not right for everyone.
We have also created an introducers scheme aimed at professional advisers who don’t have the time or resources to keep the market under constant review.
We are also concerned that access to instalment schemes which are a tremendous boon to some could be dramatically restricted by the FCA. They are threatening to treat this as a credit agreement and charge a £1000 licence fee as well as creating endless pretty pointless paperwork for all concerned. All of which will restrict advice and put up costs to you.
Ch ch cha Changes
Hardly a month passes by when the plan providers don’t change something, which changes the plan we would recommend to you. Usually it is simple stuff like price rises. They are easy to deal with, though we foresee some pretty large ones coming up in the next few months, so those buying soon will be far better off than those buying the same plan in a few months time.
But the interesting thing is that the big players in the market are often not offering the best value for our clients. Or anywhere near it in some cases. Some are struggling with image problems, whilst others are perhaps building up massive overheads which could cause them (but not plan holders whose money is ring fenced) problems in the future.
£195 voucher to clients.
Please don’t forget that your funeral plan is just a part of your planning, and we offer a £95 voucher for a no obligation Legal Planning Review and a £100 voucher towards implementing any recommendations the review makes. Better still, if you are superbly organised already, you can pass either or both vouchers on to a family member or a friend – or raffle it off for charity!