Middle-aged couple using laptop

New rules crack down on funeral plans

It’s not just the cost of living that’s on the rise – the cost of dying is going up too.

The average price of a funeral in the UK is now more than £4,000. That’s a cost many of us just can’t pay.

The rising prices often lead people to go for a funeral plan. This is where we pay for our funeral in advance to stop our loved-ones having to worry about it when the time comes.

Regulators have now stepped in to make sure the plan providers are giving families the service that has been paid for.

From 29 July 2022 any company that isn’t approved by the Financial Conduct Authority (FCA) but tries to sell us a funeral plan will be breaking the law.

If we have a plan already, or think we might want to buy one in future, we should check that the provider is taking steps to register. We can search providers here.

We shouldn’t take out a new plan with any company that hasn’t registered. 

If we already have a plan but our provider hasn’t registered we should contact them to find out why not.

The changes should protect us from plans that don’t deliver the funeral service we’d expect. Sellers piling on the pressure and over-priced funeral plans will also be banned.

If we are struggling to pay for the funeral of a loved-one, there is help out there.

We should also remember that our relative would not want us to take out a loan that we can’t repay. Upselling is common in the industry and there is no shame in going for a cheaper, ‘no-frills’ funeral.

Image: Kampus Production / Pexels

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