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Half year pre-paid funeral sales nearly double 2008 results

by: Thomas Smith
  • 16/09/2014
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Pre-paid funeral plan sales have hit a new half-year record, the total plans sold in the first six months of 2014 were almost equal to the whole of 2008's sales.

The figures were revealed following analysis of the Funeral Planning Authority’s figures by Golden Charter.

The strength of the market is shown in the total sales of 72,279 in the 6 months to the end of June compared to 2008’s whole year figure of 74,683. The level of growth compared to the first half of 2013 was around 7%.

One in 10 UK funerals are now prepaid, compared to one in 20 in 2005. Around 30,000 plans have been drawn down in the first six months of 2014. Sales of pre-paid funerals have increased every year since 2004.

Golden Charter, which works with over 3,300 independent funeral directors to provide funeral plans, has seen growth ahead of the market of 21% and has increased its market share to 41.7% from 36.9% compared with 2013.

In January Golden Charter was awarded a contract to source funeral directors for Sun Life Direct Life assurance plan holders who request a funeral benefit option.

Ronnie Wayte , chief executive of Golden Charter, said: “Our continuing success has many fathers. Not least the growing public awareness that a funeral is an extremely personal service and people wish to place their trust in their local professionals.

“While independent businesses in many other industries have been unable to compete with national and multinational companies, independent funeral directors have bucked that trend and continue to carry out the vast majority of funerals.”

Wayte continued:”Combine this with a straight forward, good value financial proposition and the public has shown a real eagerness to plan ahead.”

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