CP21/20: Regulation of funeral plans - Further proposals

Consultation opens
05/07/2021
Consultation closed
31/08/2021
31/08/2021

We consulted on further proposals on the resolution of regulated funeral plan firms and FSCS protection along with further additional proposals in relation to our regulation of funeral plans.  

Read CP21/20 PDF

Why we are consulting 

Our proposals aim to lessen the impact of the failure of a regulated funeral plan firm on the customer. We want to ensure that customers are protected, while ensuring arrangements are proportionate and mitigate the impact on industry levy payers which fund the FSCS – this is in line with our objectives of ensuring consumer protection and market integrity.  

Who this applies to 

Who needs to read the whole document: 

  • firms that sell or carry out funeral plan contracts for funerals in the UK 
  • insurance firms who provide life insurance policies that back some funeral plans 
  • trustees of trusts and discretionary investment managers which manage the assets of trusts that back some funeral plans 
  • trade bodies representing firms that carry out or sell funeral plan contracts 
  • groups representing consumer interests 
  • FSCS levy payers 

Who else will be interested in this consultation: 

  • consumers that have a funeral plan, or are thinking of purchasing one  
  • investment advisers who provide advice on funeral plan contracts 

Next steps 

This consultation has now closed. We will publish feedback on responses and issue a Policy Statement once we have reviewed your comments.

Page updates

01/09/2021: Information changed Consultation closed