The money you pay for funeral plan is safe
We hope it will be many years before we need to put your funeral plan into place so it’s important you know that we are taking caring of your money responsibly.
To protect the money you’ve paid for your funeral plan, all of the funds are placed into a secure Trust Fund that is completely independent of Simplicity Cremations. So no matter what happens, you can have peace of mind that your plan is safe.
Why a trust fund?
In order to safeguard customers, the Funeral Planning Authority (FPA), the organisation that regulates the prepaid funeral plans industry, states that all registered funeral plan providers must place the client’s money in either a whole of life insurance policy or into an independently managed trust fund.
At Simplicity, we chose a trust fund as this is specifically designed to protect customer’s money until needed and invests the funds in a way that will provide the required return. A whole of life policy is usually designed to pay out only a set sum without considering future funeral costs.
The National Funeral Trust for Prepaid Funeral Plans from Dignity
The National Funeral Trust was set up in 1986 to protect both funeral directors and of course, our customers.
This allows us to guarantee that no matter what happens, there will always be sufficient money within the Trust Fund to honour our agreement with our Planholders, that your future funeral costs are met as agreed, and that the funeral director is only paid once the funeral has taken place.
The Trust Fund is independently managed by some of the UK’s most respected investment companies, so you can be sure your plan will be properly protected.