Pre-Paid Funeral Plans

Man holding a funeral plan

Funeral Plans Dilemma

From 29 July 2022, the Financial Conduct Authority (FCA) will regulate funeral plan providers, following a change in the law. 

Until this date, there is still the dilemma of missing the opportunity to buy a plan now, thereby ensuring the costs are frozen and you have fulfilled an obligation to your children to protect them from unnecessary costs and grief following your death.

Alternatively, unless you have a serious medical condition that is likely to result in the end of your life before 29 July 2022, you might decide to delay the purchase of your plan until the beginning of August 2022.

There are significant advantages to deciding on the second option, some of which are listed below:

  • All funeral plan providers will be FCA Regulated
  • You get the plan you’ve paid for at a fair price, and it meets your needs 
  • Your money is looked after and used responsibly 
  • You get the information you need to make an informed decision 
  • Those selling plans meet FCA rules  
  • Cold calling is not permitted
  • Unregulated companies cannot provide advice or sell plans
  • Complaints can be made to the Financial Ombudsman Service
  • Consumers will have protection from the Financial Services Compensation Scheme (FSCS) if firms fail

What is Your Money Friend Ltd doing to help you make the right decision?

  • Currently, because no firms are FCA regulated for funeral plans, we will only provide advice to clients who feel they need to buy a plan before 29 July 2022.
  • The number of funeral plan providers able to provide funeral plans after 29 July will be less than it is today. Some will not have met the stringent requirements of the FCA, others will have withdrawn from the market and some may have gone out of business.
  • In anticipation of a surge in pre-paid funeral plan enquiries from 1 August 2022 we will be providing a £100 rebate on all fully paid plans purchased between 1 August and 14 August 2022.

Get in touch, let's have a talk about your situation and needs

Firm appointments can be made for a personal/telephone consultation during this period with Ted Yeates to discuss your needs by calling 07532 645 514 or emailing

Person making a call