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09 July 2017Funeral Plans - is consumers' money at risk?
The consumer group Fairer Finance has published a report on the promotoon and selling of funeral plans, warning of misleading sales practices.
The report claims that up to 6 million people over the age of 50 have been contacted and around a third of those contacted felt they were pushed to take out a plan, and that because of what they claim is a lack of transparency and compensation schemes millions of pounds of consumer money could be at risk.
The report calls for statutory regulation of the funeral plan sector.
You can access the full report at: https://www.fairerfinance.com/assets/uploads/documents/Funeral-plan-report-FINAL-6-July-2017.pdf
The Funeral Planning Authority, an organisation set up by the industry to regulate providers in the UK pre-paid funeal plan industry, has published their response to the report on their website at:
The National Association of Funeral Directors has also issued a statement: http://nafd.org.uk/2017/07/07/nafd-responds-fairer-finance-report-pre-paid-funeral-plans/