How safe is your policy? What the firms say

GETTING plan providers to confirm that they intend to seek authorisation from the regulator – and continue in business – has proved to be a challenge. Few wanted to speak to The Mail on Sunday, especially those that insiders believe are sailing close to the wind.

Avalon Trustee Company

‘WE are unable to comment on the status of our application at this time’ [the Financial Conduct Authority website confirms one has been submitted].

‘We can fact check that customer monies are put into a trust fund [a requirement of the regulator] overseen by independent trustees.’

Heart of England Co-op Funerals

‘WE have taken the decision as a small independent regional co-operative society not to go down the route of becoming a FCA approved provider.

‘Instead we are working towards seeking client approval to move the administration and management of our plans to a FCA provider.’

Low Cost Funeral Limited

‘OUR application was submitted on October 29 last year. Since that date, we have been in regular dialogue with the Financial Conduct Authority. With regards to ensuring money from clients is protected, our funeral plan funds are invested with Scottish Friendly which in turn is regulated by the FCA.’

■ The following companies that have submitted applications to the regulator did not respond to our questions, despite being approached numerous times:

Capital Life Funeral Planning, Wilmslow Empathy UK Funeral Plans, Sale Pride Planning, Stockport