First independent Star Rating of Prepaid Funeral Plan market published
Financial information business, Defaqto, has introduced a new Star Rating for Prepaid Funeral Plans following research and analysis by its independent experts. Dignity’s Diamond Funeral Plan was one of only five out of 97 funeral plans from 26 providers to receive the prestigious Defaqto 5 Star Rating.
Each product is assigned a Star Rating on a scale of 1 to 5 and indicates the quality and comprehensiveness of the product’s features and benefits.
Steve Wallis, Dignity’s Commercial Director commented:
“We are pleased that Defaqto, a highly regarded and independent organisation, has turned its attention to the fast-growing funeral plan sector, which will benefit from increased scrutiny and stronger regulation. There is significant consumer misunderstanding about what different funeral plans cover and Defaqto’s Star Rating will give consumers an independent way to assess which plans are best.
“As an organisation we are concerned about rogue practices in the sector and have commissioned in-depth research into how plans are sold, and what customers understand about, funeral plans.
“In the meantime we are delighted to have received the highest, 5 Star Rating for our premium funeral plan. We believe it is an acknowledgement of several key features of the plan, including the more comprehensive guarantees, our superior client service and the flexibility we can offer.”
Ben Heffer, Insight Analyst for Wealth and Protection at Defaqto, comments:
“At Defaqto we believe consumers should base their financial decisions on more than just price. People should think about what they need and then buy a product that meets their requirements. Star Ratings help consumers in their financial decisions by being based on facts, not opinions. In reviewing the Prepaid Funeral Plan market, we have assessed the key features and benefits across providers and plans – and we hope that the Star Ratings can help provide the first step towards a more transparent and clear market place for consumers.”
As with all Dignity Funeral Plans, The Dignity Diamond Funeral Plan guarantees the funeral director services and cremation costs in the Plan or if a burial is preferred, a contribution is provided to help towards these costs.
Our British Kitemark awarded customer services are available 24 hours a day, every day of the year and you can personalise this plan with any special requests you may have.