Boost to funeral director payments
Independent funeral directors stand to receive a £200 boost to their future plan maturity payments, following the upcoming Golden Charter set plan price rise.
Understanding funeral directors’ position over the past year, a retail price increase of £200 will be applied to Simple, Traditional and Exclusive set plans from 1 April. The entire value will be applied to funeral director services and disbursement allowances.
Malcolm Flanders, Director of Funeral Director Sales, explained: “Last year we put more effort than ever into engaging with Independents and giving you avenues to highlight your views. That push worked and we have reflected on the points heard, and this focus on pay-outs is one of the ways we are addressing your feedback.
“This rise has two purposes: to increase your funeral director service payments and to provide a higher disbursement allowance.
That means every penny of the £200 rise goes to the funeral; Golden Charter won’t retain any of that amount.”
In addition to a £40 increase to funeral director services, the disbursement allowance will increase by £160, bringing it to £1,100. This will bring a host of benefits – better value for customers, less likelihood of any further money being required at the time of need, and a better comparison with competitor plans.
Value Plans will remain at their current price level, maintaining the advantages for those families and funeral directors who take that option and ensuring a strong, competitive marketing message. But here too funeral directors will receive a boost: the bundled Will is no longer to be included with Value Plans, meaning a £299 FDIA increase.
If you have any questions about the increase, please speak to your local Golden Charter representative.
Tags: amount, FDIA, funeral director, Golden Charter, Independents, invoice, maturity, payment, plan, price