Golden Charter just got bigger. It’s now going to be the conduit through which Sun Life will sell its over-50s life assurance plans to those who ask for a funeral benefit option.
As Golden Charter say, this “significantly boosts Golden Charter’s market share and choice for consumers”.
The reckoning is that Sun Life Direct customers will now have access to a network of nearly 3000 independent funeral directors across the UK, which Golden Charter says will support job creation in the profession. The deal will also take its own share of the UK pre-arranged funeral market, which is growing rapidly, above 50%.
Funeral Planning Authority figures show 67,484 pre-paid funeral plans were sold in the UK in the first half of 2013, putting the market on course for growth of 12% this year on the total sales of 120,731 in 2012. The average price of Golden Charter’s pre-paid funeral is £3,100.
Ronnie Wayte, managing director of Golden Charter, said Golden Charter sales were up by two thirds in the current financial year.
All of Golden Charter’s surpluses are used to support its independent funeral director members.
ED’S NOTE: That 3000 figure looks a touch optimistic. Using surpluses to support, ie reward, undertakers doesn’t look, on the face of it, customer-facing.