Regulation of Funeral Plans Market

Earlier this year, HM Treasury made public plans for the Financial Conduct Authority (FCA) to regulate the prepaid funeral plans industry. After campaigning and lobbying, by a range of pre-paid funeral plans providers, the industry has welcomed the news. At Empathy UK, we hope this further limits the activities of unscrupulous providers threatening the integrity of an important sector of the funeral industry. Around the United Kingdom, thousands of people benefit from funeral plans. Allowing for plans to be made and paid for in advance, funeral plans have helped save thousands of families much pain and anguish, at a time of grief.

According to the latest estimates, one hundred and seventy thousand funeral plans are sold across the United Kingdom each year. Empathy UK pre-paid funeral plans offer some of the best value, alongside flexible payment options, and the longest cooling-off period available on the market. After joining forces with the industry’s leading names, Empathy UK envisage greater regulation will ensure consumers’ satisfaction. The Treasury’s interest in considering regulation for the sector was sparked by research led by industry leaders and independent consumer organisation Fairer Finance. The research identified several problems faced by consumers when choosing funeral plans.

In response, Empathy UK’s highly trained staff aim to ensure consumers of aware of all the details of their funeral plans. Furthermore, by offering the longest cooling-off period on the market, we ensure customers have ample opportunity to pour over the finer details of their plan. Empathy UK also offer flexible payment options to suit a range of budgets. Finally, a benefit common to most funeral plans, Empathy UK require no medical checks which means acceptance is always guaranteed.

Within the next two years, as the legal process for the regulation of funeral plans plays out, at Empathy UK, we call for greater regulation and protection of consumers.

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