About 1.3 million people in the UK have purchased a funeral plan, but experts warn they could become a national scandal
Tens of thousands of people are at risk of being left out of pocket because of a growing “national scandal” involving pre-paid funeral plans, it was claimed this week. One consumer body that has investigated the sector said it believes some companies offering these plans could be operating a “quasi-Ponzi scheme”, where they allegedly use money from new customers to pay current claimants.
About 1.3 million people in the UK have one of these plans, and it’s a rapidly growing market, with more than 200,000 sold last year. They are typically bought by older people to cover the cost of their funeral so their family doesn’t have to pick up the bill.
As a funeral professional, I wouldn't let my grandmother touch one with a barge pole – they are that bad
Related: Pricey goodbye? The cheapest and most expensive places to die revealed
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