WARNING: despite an apparent good rating on Trust Pilot, we get more complaints about Prosperous Life Funeral Plans than the whole of the rest of the market put together. The plans themselves are fairly poor: not disastrous, just worse than most. That doesn’t mean you should go out and cancel existing plans, that wouldn’t help! The big issue with the plans themselves is that the allowance for third party costs is significantly lower than average. However, the main complaint seems to be high pressure sales techniques and keeping selling until people pay a deposit (perhaps to get rid of the sales person!) BEFORE they can be sent proper details of what they are buying. “If your pay the deposit now, we’ll hold the price” is the sort of thing the sales person says.
Remember, the main market for these plans is older folk some of whom will be vulnerable or lacking in the confidence to insist on reading a PAPER brochure and Terms and Conditions which they can actually read before making a decision. Many are not used to dealing with pushy sales people and are more easily corralled into things than they should be considering with care. It may be that these high pressure salespeople don’t work for Prosperous Life, but they do give the industry a bad name. See the Daily Mail article from 2019. If they are so desperate for sales that using a deposit to “hold prices” to trick people into committing themselves is just plain wrong. Yes, you can get your money back, but you will lose it of you don’t ask soon enough, and it takes over a month we are told to get a refund.
NEVER Part with Card Details to BUY A FUNERAL PLAN WITHOUT READING THE BROCHURE and Terms of Business CAREFULLY.
STOP PRESS: We have no idea what was happening at Prosperous Life Funeral Plans phone system. They seem sometimes to have been unable to answer their phones. That is pretty disastrous when a plan holder has died. The majority of the calls we have fielded have been asking for refunds during the cancellation period, and all we can suggest is to write to them Recorded Delivery and make sure you keep a copy of the letter as well as the Post Office Receipt. We understand that refunds take a minimum, of 5 weeks, and there is a substantial penalty if they are not aware of the cancellation during the period shown on their terms of business, their address appears at the foot of this review. We have never recommended a Prosperous Plan – which is not a criticism, and we’re not suggesting anyone rushes out and cancels one. They are reasonable, but there are better plans available, and we always try to recommend the best plan for each individual.
Prosperous Life Funeral Plans are another newish player in the funeral plan market. They offer a simple range of three plans. Read our review below. To find out if they would be right for you, call us on 0800 0588 240 for free Independent Advice in this complex market. Prosperous Life do seem to be making some waves in the market, some of them not positive, but that is probably a few over-pushy agents rather than the company. Other companies have had similar issues in the past and sorted them out. To be blunt, I see no reason at this point in time to use Prosperous Life. Better plans are available at a lower cost. Hopefully, they will improve their allowance for third party costs and index it so it is not falling further and further behind the better buys.
Should you have a complaint about Prosperous Life Funeral Plans, DO NOT CALL US please, their contact details are at the foot of the page. Our main concern is that their agents seem to be selling plans over the phone on the basis that there is a cooling-off period where the client can cancel. Nothing wrong with that, but we think customers should get the chance to read the small print before handing over bank details and cash – and that shouldn’t be done over the phone. Just our view! The Daily Mail is not keen on Prosperous Life either!
You should be aware that the guarantee offered by Prosperous Life covers only the funeral directors own fees, and not third-party costs, which are typically around one-third of the total cost. They do have an allowance of £1,000 available, which is a bit lower than most. It is NOT automatically indexed in line with the Consumer Price Index as are most other plans, but they MAY at their discretion increase it. Hardly ideal! Almost certainly, your family will need to find a significant top up at the time. Even in 2020, some crematoria are charging £1,500 – £500 over the Late Life Planning allowance.
For a copy of our FREE Guide To Prepaid Funeral plans, pop your email into the box below:
Be aware that, despite information to the contrary on other sites, they are NOT currently regulated by the Funeral Planning Authority. It is not something that Prosperous Life claim themselves, just an error on another site. There is also a claim that they offer no refunds, retaining funds until death. This is also incorrect, as money paid in can be refunded on request less a cancellation fee which is currently £595.
More concerning is that they will attempt to contact you at age 90, and if they receive no reply within 7 years, they will retain the plan benefits! We were very critical of the Coop doing that at age 110 (they don’t anymore) but at age 97 there will be some people who lose out for sure. If you have one of their plans, be sure to keep them updated with your address (which is a good idea with any plan.)
The Prosperous Life Funeral Plans range:
1) The Prosperous Life Silver Funeral Plan £3,595
is what we would call a standard funeral plan, it covers the funeral directors costs with an allowance of £1,000 towards third party costs. In all cases, Prosperous Lifes’ cooling-off period during which you can cancel a plan and get your money back is a little short at 14 days, so do make sure you read the small print before you buy, as you should with any plan. The amount allowed for third party costs on all of their plans is a little lower than average.
2) The Prosperous Life Gold Plan at £3,995
adds a limousine for the family and a listing of floral tributes and an upgraded coffin.
3) The Prosperous Life Platinum is £4,195
upgrades the coffin and adds a second limo for family members.
Is your money secure?
The funds are held in the same Trust as those of Pride Planning.
What do the Prosperous Life Funeral Plans NOT cover?
- If you choose burial, the plan does not cover you for the purchase of the burial plot.
- The plan does not include the cost of repatriation back to the UK, if you die outside of the UK.
- If the allowance for the third-party costs does not fully cover them at the time of need, the balance will need to be covered by your next of kin or representative.
- Any requests you have made on the personal request form that fall outside the plan ie flowers, memorials that have not been paid for.
- There may also be further costs if your next of kin or representative chooses a different funeral director than the one stated on the plan certificate.
Prosperous Life Funeral Plans Reviewed.
Contact details for Late Life Planning Ltd trading as Prosperous Life Ltd of Sinclair House, 11 Station Road, Cheadle SK8 5AE. Should you have a complaint, their direct number is 0800 046 5903 or 0161 850 7586. Alternatively, email firstname.lastname@example.org – but we would recommend sending any cancellation in writing, by recorded delivery.