Are Pre-Paid Funeral Plans A Safe Investment?

Pearce Funeral Services have offered prepaid funeral plans for a number of years. Our plans are guaranteed to cover the full cost of your funeral and For your peace of mind. Our Prepaid Funeral Service is registered with the Funeral Planning Authority and abides by its Code of Practice, ensuring fair terms and conditions for you and strict controls over the custodianship of funds that are regularly monitored by independent experts.

The Plan also complies with the requirements of the Financial Services and Markets Act 2000.

If you are considering investing in a prepaid funeral plan, you might have read or heard on the news recently stories about plans that have been mis sold and are not covering the cost of a funeral. The news reported earlier this year that millions of people previously were cold-called by salesmen pressuring people to buy a plan that they believed would cover the full cost of their funeral, only to find that this was not the case.

An easy way to check whether your plan is safe is to check that it guarantees to cover 100% of the costs. It should also be insurance protected, securing your investment.

Currently funeral plans are not regulated, however this law is about to change.

From 29th July 2022, all funeral plans that are sold in the UK will be regulated by the Financial Conduct Authority (FCA).  

The new regulations will ensure that all funeral plans sold after this date will meet consumer needs and that the plans sold offer fair value. The regulations will directly impact providers of plans - these are the firms that enter into and administer funeral plan contracts (including those sold before FCA regulation), and Intermediaries. Intermediaries are the firms that sell plans to customers on behalf of the providers, for example, funeral directors, will writers and direct marketing companies.

Pearce Funeral Services have offered prepaid funeral plans for a number of years. Our plans are guaranteed to cover the full cost of your funeral and For your peace of mind. Our Prepaid Funeral Service is registered with the Funeral Planning Authority and abides by its Code of Practice, ensuring fair terms and conditions for you and strict controls over the custodianship of funds that are regularly monitored by independent experts.

The Plan also complies with the requirements of the Financial Services and Markets Act 2000.

If you are considering a prepaid funeral plan, then please speak to us. We can talk you through the plan, confirm everything that is covered, answer all of your questions and ensure that you have peace of mind before progressing with the plan.

More information on our prepaid funeral service can be found here.