×
Two Together: Save £100!
Save £100 when you purchase two funeral plans together. Call us for more details.
Buy now, pay in January
Buy your funeral plan today and pay in January for peace of mind this Christmas. Click here for full T&Cs.
Two Together: Save £100!
Save £100 when you purchase two funeral plans together. Call us for more details.
Buy now, pay in January
Buy your funeral plan today and pay in January for peace of mind this Christmas. Click here for full T&Cs.
9 minute read
For many, the thought of leaving family with the financial and logistical pressures of arranging a funeral is a significant source of worry. Funeral plans can offer a way to ease this concern by providing reassurance that everything will be handled according to your wishes when the time comes. Even so, it’s important that your funds are truly protected and you feel sure that both you and your family are in trusted, reliable hands.
Funeral plan regulations are designed to protect families, ensure fairness, set clear standards for providers, and offer peace of mind to those navigating these big decisions. But with so many providers out there, choosing the right funeral plan can feel overwhelming.
With Aura, you can rest assured you will be receiving the best quality in care and attention with our prepaid funeral plans and unparalleled customer service. We hope that by providing this guide, we can remove some of the confusion surrounding the funeral plans regulations, and help you move forward with confidence.
Clearly understanding what funeral plans are, and what they entail is essential to evaluating your options and deciding if purchasing one aligns with your needs.
Funeral plans are regulated pre-paid packages designed to cover the expenses and services associated with a funeral. They can help to alleviate the potential emotional and financial stresses on families by making arrangements and taking care of payments ahead of time. These plans allow you to lock in current prices, protecting loved ones from potential future price increases.
Regulations for funeral plans are designed to be reliable and transparent; when it comes to putting your money somewhere, you need to feel secure. By setting strict standards, these regulations guarantee that providers act ethically, funds are managed responsibly, and services meet promised commitments.
The Financial Conduct Authority (FCA) regulates prepaid funeral plan providers in the UK. Its role is to ensure providers are trading appropriately and protect consumers, requiring that all companies that sell funeral plans adhere to strict standards and procedures. This regulatory framework safeguards against malpractice and guarantees fairness for customers.
Aura is fully regulated by the FCA, winners at the International Compliance Association (ICA) Awards, and our plans are protected by the Financial Services Compensation Scheme (FSCS). When you pay for an Aura funeral plan, the money for your funeral is put into a safe and secure trust, which is managed by independent trustees separate from Aura. The trustees look after this money on your behalf until it is needed to pay for your funeral. This ensures that when you choose a direct cremation plan with Aura, your money is protected.
These days, it is not uncommon to become wary of most services involving our money. This might lead you to ask, ‘are funeral plans safe?’ This is a valid concern, but it might help you to know that providers have a legal obligation to meet various FCA-imposed standards, including:
With the oversight of the FCA, you can feel a degree of comfort knowing that companies are required to operate within set standards of service. Here are some benefits of these regulations:
Regulations provide critical protection, ensuring that funds are secure and utilised for their intended purpose only. By mitigating risks of fraud or mismanagement, these rules help families feel confident about where they have placed their money.
Clear terms and conditions are vital in building the trust of the public. Regulation enforces straightforward communication of fees, coverage, and terms, fostering a more harmonious relationship between you and a provider. When you feel as if you fully understand what is being offered, and that you can easily reach a person from the provider to speak to, naturally you are able to feel more comfortable within that contract.
Regulated providers must have formal processes for handling and resolving complaints. Unresolved disputes can be escalated to the Financial Ombudsman Service, giving you a fair and unbiased platform for a solution.
The FCA began to regulate funeral plans in 2022. These include stricter rules on advertising and sales practices, meaning that there is now extra protection from marketing materials that are not clear, not fair or misleading.
These updates included a mandatory deadline for existing funeral plan providers to obtain FCA authorisation (if they were trading before 29 July 2022), legal penalties for non-compliance, and increased consumer confidence through improved standards for plan reliability.
It is a legal requirement that only FCA-authorised providers can sell or manage funeral plans. You can always confirm a provider’s status on the FCA register to make sure everything is above board. Additionally, you can check reviews and complaints on Trustpilot to ensure the provider’s reputation aligns with your expectations.
By comparing funeral plans and their pricing, you can decide which plan would be the best fit for you and your family. Look for transparent terms and flexible payment options that cater to your needs. Because purchasing a funeral plan is an important decision, take your time in making comparisons. You want to feel confident in your choice, and fully supported by the funeral plan provider you ultimately go with.
It is crucial to understand the cancellation terms of a funeral plan. The FCA mandates cooling-off periods, providing you the chance to reconsider without financial penalties, if any. For cancellations beyond this period, partial refunds may still be available, which offers some level of flexibility and security.
With Aura, you won’t be charged if you want to make a change; you’ll only pay extra if you upgrade your plan. Many providers charge a cancellation fees, but at Aura, we don’t. If for any reason you decide to cancel your plan, you will receive a full refund, and there won’t be any fees for you to pay.
Aura is a trusted provider of prepaid direct cremation funeral plans in the UK. We are the only prepaid direct cremation plan provider to have two direct cremation plan options rated five stars by independent experts, Fairer Finance.
Our empathetic team is dedicated to supporting you every step of the way, giving you the attention and understanding you deserve. Aura’s funeral plans are thoughtfully created to provide peace of mind, reducing stress for your loved ones when they need it most. With transparent pricing, there are no unexpected costs for your family in the future. As a family-run company, we are committed to treating your loved ones with the same level of respect, compassion, and dignity that we would want for our own.
After selecting a plan, get in touch to speak to one of our wonderful funeral experts. They will send over our terms and conditions and terms of use, and answer any questions you may have. We’ll place your money into a secure, independently-managed trust, so that it’s ready to be used for when the time comes.
When it comes time to put your plan into action, your family will know exactly who to call. They will get in touch with a member of our team and we’ll begin the process of bringing you into our care. Your loved ones will be supported through the initial paperwork with patience and compassion, and we’ll let your loved ones know the date and time of your cremation.
On the day, you will be transported privately to the crematorium, and within 21 days of the cremation, we’ll arrange to hand-deliver your ashes to your chosen person at no additional cost, or we’ll scatter them on their behalf.
Regulation requires funeral plan providers to secure funds in trusts or insurance policies. These measures guarantee that payments are protected, even in the event of provider insolvency.
In the rare event that a provider goes out of business, the FCA ensures either continuity of the plan or refunds for consumers. Customers can also seek assistance from the Financial Ombudsman and may also be eligible for compensation from the Financial Services Compensation Scheme (FSCS).
As of 2022, all funeral-plan providers need to be regulated by the FCA in order to sell funeral plans. It would be highly unlikely, but if you were ever approached by a funeral plan provider and you found that they did not appear on the FCA register, then you should report them to the FCA.
When considering funeral plans and their regulations, there are multiple angles to investigate, and we hope that this article has been a helpful start for you. Whether you’re in need of more information, or are ready to begin the process of purchasing a plan, Aura is here to help.
Aura offers three prepaid direct cremation plans tailored to different preferences. Starting at £1,595, our simple unattended option provides an affordable choice. For a more personalised service, our attended plans are designed to accommodate both intimate and larger gatherings, offering flexibility to suit the needs of your family. Each plan is designed to handle practical arrangements at a fair cost, with the flexibility of including an attended service if desired.
If you’d like to learn more about our funeral plans, feel free to download our brochure today.
If you want to know more about how your funeral plan is cared for, our downloadable guide provides the details you need to feel confident. Discover the steps Aura takes to protect your funds and the regulations in place to keep your money safe.
Download our guide by clicking the link below and gain peace of mind for the future.
