What is a funeral plan provider?

For those who wish to invest in a funeral plan and save money by arranging and paying for their funeral in advance, the funeral plan provider is an important consideration.

At the time a person has made their decision to pre-pay for their funeral, they might first ask themselves what is a funeral plan provider before making their choice as to who they wish to place their final arrangements.

Currently, there are 28 regulated funeral plan providers, registered with the Funeral Planning Authority (FPA).  This includes a range of local and independent funeral directors together with companies that are larger and have a range of networks of funeral directors.

If someone ask themselves what is a funeral plan provider they can consider that it is the provider they buy their funeral plan from, or it might be one of the funeral directors associated to their funeral plan that will carry out their funeral plan, as they wish, at the time of their death when their final arrangements are actioned.

It is important to note that when thinking about what is a funeral plan provider, on 29 July 2022, the funeral plan industry will become regulated in the UK.  More can be read here about how the Financial Conduct Authority (FCA) is regulating the funeral plans sector.  All firms that want to continue operating as funeral providers or intermediaries for pre-paid funeral plans will need to be authorised or exempt (for example, an appointed representative) by this time. 

The FCA also lists what is a funeral plan provider and the status of their application: whether they have submitted their application for their firm to become regulated, if their application has been withdrawn and, at the appropriate time, if their application has been authorised here.

Whilst there are a number of them, what is a funeral plan provider can be reviewed through comparison sites and be chosen by a person through dong this directly with a funeral provider; alternatively, a funeral plan provider can be found and instructed through an intermediary broker.

There are a large number of them so a person might consider different options for them when thinking about what is a funeral plan provider.  Depending upon what type of funeral plan a person is looking for, the level of service required from the funeral plan provider and the financial budget they have, what is a funeral plan provider will be largely based on people’s preference.

If a person is paying for a pre-paid funeral for themselves, the question of what is a funeral plan provider can help them to save money through the review of the comparison sites that are available, as well as speaking with the number of funeral plan providers in the UK market.

For those people that are arranging funerals for their recently deceased loved ones, what is a funeral plan provider will be the question they are likely to ask because they will have to arrange the final arrangements for their deceased loved one in less time than if a pre-planned and pre-paid for funeral plan had been implemented.

Taking into account of what is a funeral plan provider is and can offer, finding the most suitable funeral provider is likely to be high on the list of anyone having to deal with their own funeral plan or a funeral plan for their deceased loved one.  The different standards of funeral, levels of service and budget will determine which is best for the individual who is planning the funeral.

When looking into what is a funeral plan provider, any one of them is likely to offer a choice of three varying funeral plans so that the consumer can choose which funeral plan is best for them.  This will likely include the most basic funeral plan, however, it is important for anyone choosing a funeral plan to ensure all the elements they require within their funeral plan is considered and included. 

One of the cheapest funeral plans offered to a consumer may exclude additional costs that might be included in an alternative funeral plan that a different funeral plan provider offers.

Those seeking the answer to what is a funeral plan provider will quickly discover that, by instructing a funeral plan provider to help with the final arrangements of a person’s own funeral or for a deceased loved one, they will save time and money because they have the knowledge and professional skills to be able to provide a person or family with enough information for the consumer to make a decision as to what the best perceived funeral plan is for them.

With the up-to-date information including costs, level of service and additional costs attached to funeral plan deciding what is a funeral plan provider and what they can offer is an advantage to the consumer.

There are a number of them in the UK market, so when considering what is a funeral plan provider, the consumer can be reassured that those that are regulated will have a strict code of practice to follow to ensure the best service and fair costings are passed on to the them.

The next article will be published next week, and the title will be Can you get a payment plan for a funeral?