In recent years, we’ve all been faced with many new challenges. From the pandemic to the cost-of-living crisis and the ongoing threat of a recession, there has been increased financial pressure impacting us individually and our community. Unsurprisingly, this can affect everything from our mental health and wellbeing to our financial health and security. This has been reflected in funeral service trends and how families are choosing to commemorate the life of a loved one. Alongside these challenges, the funeral industry has also updated its regulations around funeral plans to ensure that these are correctly regulated, and consumer funds are protected.
“The UK’s Traditional Funeral Market shifts as Direct Cremations rise in popularity by 500%.”
An unattended straightforward funeral service option has been an increasingly popular option for our families. Thanks to a resurgence during the pandemic where funeral attendance was limited due to government guidelines, direct cremations proved to be the most practical solution. However, their popularity has continued beyond this period as a more affordable solution amid the cost-of-living crisis. According to Sun Life the direct cremation as a choice of funeral has risen from 3% in 2019 to 18% in 2021.
Funeral Plan Regulations
From July 29 th 2022, all funeral plan providers will need to follow new Financial Conduct Authority (FCA) rules to enforce high standards on governance and financial resilience. For the first time, this will mean that the funeral plan market is regulated to help protect consumers and improve the way they are treated across the board by all providers to ensure they feel confident that they will receive the funeral they or their loved ones expect when they are gone. For your reassurance, we want to let you know that we are authorised under Golden Charter to act as an “introducer” representative and we are able to continue to accept any assigned funeral plans and to fulfil the funeral obligations under that plan with the level of care and attention to detail that we are known for. For more information, visit: https://www.fca.org.uk/consumers/funeral-plans/providers-list
Free Access to Bereavement Support
We also appreciate that more of our families are looking for additional support when coping with bereavement. However, during the cost-of-living crisis, private counselling services are an expense that many are unable to spare, which is why we have partnered with Care First for immediate access to 24 hours personal one to one counselling services. For more information and to access the support please contact our office on 01451 810700.