Become a National Federation of Funeral Directors Prepaid Probate Plans Agent

A ‘Funeral Plan’ style solution to the ever-growing costs of probate.

For most of your clients, leaving their loved ones to administer their estate and be responsible for obtaining a Grant of Probate is something they should avoid wherever possible. However, simply appointing a Professional Will Executor will result in a substantially reduced sum of money going to their beneficiaries. With the average Professional Will Executor taking between 2 and 4 Percent of the deceased’s estate, this amount very quickly adds up!

The Pre-Paid Probate Plan is a ‘Funeral Plan’ style solution to this problem. Fixing it at a far reduced rate today, will ensure that their entire estate goes in the right direction.  The National Federation of Funeral Directors have contracted a consortium of Probate specialists and Solicitors to in order administer your client’s estate in the future, without the costly fees.

‘The New Funeral Plan’

As a later life planner, you are all too aware of the new rules and regulations hitting the funeral plan industry. In fact, many businesses have already started seeing a substantial dent in their revenue from month to month and have been forced to find alternative business models to continue thriving.

The NFFD are here to provide a brand new service that will easily integrate into your existing products / service portfolio and help you to increase your revenue and continue to grow your business.

Why should you become an agent?

Becoming an agent for NFFD Prepaid Probate Plans has many benefits. Here are just a few:

No hidden costs or signup fees

There is no signup fee to become a Prepaid Probate Plan Agent. whether you sell one plan or one thousand plans per year, it will not cost you anything to offer the service to your clients.

You don’t need NEW customers

They say it costs 80% less to convert an existing customer than to sell to a new one. With this in mind, you likely have a dozen or more existing clients that you can sell this service to with relative ease.

Just like selling a funeral plan

With the introduction of new regulations when selling Funeral Plans, it is worth considering alternative business models to continue growing your company and avoid any dips in revenue.

Uncapped agent commissions

With uncapped commissions starting at £500 per plan sold, the only limit on your income as an agent is the number of plans you can sell.

The NFFD are trusted to deal with over £10,000,000 in estates annually, with that number growing rapidly.

Over £2,500 in additional revenue from existing clients

This agent primarily sold funeral plans and, with the new rules and regulations starting to take effect, decided to offer Prepaid Probate Plans to a small segment of their clients and gauge the level of interest in the products before making it available to everyone. Just two short weeks after becoming an NFFD Prepaid Probate Plan Agent, this business saw a rapid increase in their incoming revenue, without having to find a single new client.

This immediately increased their revenue by over £2,500 and all they had to do was demonstrate the benefits of their client prepaying their probate fees to secure their beneficiaries’ inheritance, and then complete a simple form online.

Here’s what the agent had to say about being an agent for our Prepaid Probate Plans:

“As we know, the Funeral Plan concept is a great way of fixing costs. So we were more than happy to be made a National Federation of Funeral Directors agent for their unique Pre Paid Probate Plans that work in exactly the same way. Frankly, saving people money and protecting their loved ones inheritance is always easy! So when you explain how a Pre Paid Probate Plan does exactly that, by cutting out heavy Solicitor’s costs, it’s a ‘done deal’. I have to say it has breathed new life into the company and my staff.”

Managing Director –  NFFD Agent in West Sussex

Agent Commission Structure

As a prepaid probate agent, you will earn a great commission for each Prepaid Probate Plan you sell. Here is a breakdown of the commission structure:

Estate Value:

Under £500,000

  • Plan Type
  • Single
  • Joint
  • Your Commission
  • £500
  • £600

Estate Value:

£500,000 – £1,000,000

  • Plan Type
  • Single
  • Joint
  • Your Commission
  • £600
  • £750

Estate Value:

£1,000,000 – £5,000,000

  • Plan Type
  • Single
  • Joint
  • Your Commission
  • £750+
  • £750+

How do prices compare for the client?

Estate Value:

Under £500,000

  • Solicitor Fees
  • £12,500
    + VAT
  • £12,500
    + VAT
  • Our Fees
  • Single Plan –
    £3,250
  • Joint Plan –
    £3,850

Estate Value:

£750,000

  • Solicitor Fees
  • £18,750
    +VAT
  • £18,750
    +VAT
  • Our Fees
  • Single Plan –
    £3,850
  • Joint Plan –
    £4,250

Estate Value:

£1,000,000

  • Solicitor Fees
  • From £25,000
    + VAT
  • From £25,000
    + VAT
  • Our
    Fees
  • Single Plan –
    £4,250
  • Joint Plan –
    £4,850

Estate Value:

Over £3,000,000

  • Solicitor Fees
  • 2.5% of Estate
    + VAT
  • 2.5% of Estate
    + VAT
  • Our
    Fees
  • Single Plan –
    P.O.A
  • Joint Plan –
    P.O.A

What’s included for the client?

  • A codicil adding the NFFD as professional executors (if required).
  • Assisting their loved ones with registering the client’s death.
  • Ensuring all assets are secure and protected during the probate process.
  • Advising their loved ones on the terms of the client’s Will or the intestacy provisions and discuss the duties of the executors.
  • Identifying, valuing and collecting any and all assets.
  • Preparing estate accounts and distributing to the Client’s beneficiaries.
  • Calculating the Inheritance Tax, submitting relevant forms and information to the HMRC, and arranging payment.
  • Ensuring relevant Inheritance Tax exemptions and reliefs are fully utilised.
  • Ensuring beneficiaries receive their full entitlement under the Client’s Will or intestacy.
  • Corresponding with HMRC to finalise any income tax and capital gains matters.
  • Updating beneficiaries throughout.
  • Ensuring payment of your debts and liabilities.

As the NFFD are only partnering with a select number of businesses across the UK, placements are filling up quickly. Applications are dealt with on a first come, first serve basis. So, make sure you complete the form below as soon as possible to avoid missing out.