Distinct Cremations welcomes NAFPP research findings
The association’s survey has shown that members’ plans are currently funding approximately one in six of all burials and cremations
Distinct Cremations has welcomed the findings of the National Association of Funeral Plan Providers (NAFPP), which praised the industry for adapting quickly to new FCA regulations.
According to its first annual report, NAFPP research showed sustained consumer demand for pre-planned funerals.
The association’s survey has shown that members’ plans are currently funding approximately one in six of all burials and cremations, and financed more than 12,000 services in 2023.
Steve Wallis, MD of Distinct Cremations, said: “I’m delighted that after the shockwaves caused by the collapse of providers like Safe Hands and Unique, public trust is once again returning.
“The new rules are helping to ensure consumers’ plans are safe now and in the future, because providers are now held to a higher standard. Cold calling has been outlawed, as has the payment of overblown commissions.”
He added: “The research highlights there is a continuing demand from consumers to secure their end-of-life plans and make financial arrangements in advance.”
The NAFPP has reprised a biannual market update, formerly provided by the now-defunct Funeral Planning Authority, and represents the growing prepaid funeral plan sector.
NAFPP chairman, Steve Rowland, has also commended providers for adapting so quickly to the new regulatory environment.
Rowland said: “New propositions for families have emerged and with new providers entering the market, there is probably more choice now than ever”.
The Financial Conduct Authority (FCA) has regulated pre-paid funeral plans since July 2022, following the collapse of Safe Hands, One Life and Unique.
The NAFPP represents and promotes the prepaid funeral planning sector with 27 of the FCA’s approved plan providers in membership, including local funeral directors, niche suppliers, national brands, and integrated providers.