Synopsis of the report:
- Independent review of the UK funeral plan market.
- This report explores how the market continues to evolve post FCA regulation, and how funeral directors and funeral plan firms are faring.
- We explore how direct cremation and traditional funeral plans are evolving including improvements across the past 12 months.
- We outline the trends that are shaping the future of the sector and funeral plan sales.
- The report includes research work among 378 UK independent funeral directors and their attitudes towards regulation and funeral plan sales.
- We explore the views and attitudes of 1,500 UK adults looking at drivers for buying funeral plans, how they feel about funeral preferences, how they go about considering and buying a plan, and who they trust to deliver services.
- We conclude propositional areas where firms still need to consider where customer outcomes are questionable and pay particular attention to the value and fees associated with longer term payment options.
- We outline areas where the FCA need to pay attention on Over 50s life insurance plans as part of their Pure Protection review.
- We explore the continued misleading use of ‘average funeral costs’.
- The research review the current funeral plan propositions of all national firms and conclude who we rate as providing the safest and best value propositions among the two most popular plan types in the market.
- This report is available to funeral plan firms, funeral directors, opinion formers, and consultancy firms working in the funeral plan sector. It will be particularly useful for new entrants considering an approach into the market or those simply wishing to understand more.
- It will be provided as a fully designed digital PDF of around 70 pages including charts.
Table of Contents
1. Introduction and executive summary
2. Methodology
3. Funeral plan market structure
4. Funeral plan market size and trends impacting future growth
5. Funeral plan regulation - how the sector is settling down and evolving
6. Funeral plan pricing
7. Funeral plan propositions
8. Product features in focus
9. How consumers feel about funeral plans - ownership, drivers and purchase behaviour
10. How future purchasers will go about buying a funeral plan
11. Over 50 plan market regulatory scrutiny: Issues FCA should be considering
12. How ‘average’ funeral costs continue to mislead consumers
13. Top rated funeral plan providers - 2025
14. Summary conclusions
15. Guidance for consumers buying funeral plans
