Will my money be safe?

How we keep your money safe


Co-op Funeralcare has been providing funerals to celebrate the lives of the nation's loved ones for over 100 years. By choosing a Co-op Funeralcare plan you can be confident that you’re in safe hands, your money is protected and your funeral will be provided when the time comes.


Unlike other funeral plan providers, we guarantee all the services in your funeral plan will be delivered at no extra cost. We provide those services ourselves and with funeral homes we have a relationship with, such as other regional co-operatives.

Where does your money go?

We put all of the money from each plan into an individual whole of life insurance policy with Royal London. When we say Royal London, this is The Royal London Mutual Insurance Society Limited.

We receive an allowance to meet our initial costs of selling and arranging the funeral plan. 

The money is released to us when you die so that the funeral can be provided. Money can also be released in other circumstances, for instance if you cancel your plan, so we can refund this to you in accordance with our terms and conditions.

Working with Royal London we regularly monitor the whole of life insurance policies to ensure enough funds are available for us to provide the services set out in your plan. We report on this annually in our accounts.

Protecting your money

In order to provide additional protection, the policies and their proceeds are held by an independent trustee, Capita Trust Company Limited, on trust for when they’re needed. 

What if Co-op Funeralcare goes out of business?

We’re confident this won’t happen. But in this unlikely event, the money will be protected by the trust under the control of the independent trustee.  The trustee will work with the Funeral Planning Authority or any replacement funeral director to provide your funeral.  Alternatively the funds will be returned to your estate.

How are we regulated?

We’ve been registered with the Funeral Planning Authority since it was formed  in 2002. We call this the FPA and it’s the industry body that monitors the operation of registered funeral plan companies. This includes the formal monitoring of the marketing, financial and service provisions of the plan.

The FPA is there to add objective scrutiny to providers who choose to register. This scrutiny is intended to add a degree of consumer protection by ensuring providers conform to the FPA Rules and a Code of Practice. The scrutiny is carried out by the FPA’s independent compliance committee.

There is an annual re-registration process to check providers continue to meet the high standards set.  This includes the provider submitting detailed information, including financial information, to the FPA on the key aspects of how they run their plans. Since the formation of the FPA in 2002 no FPA registered firm has failed.

The detail of regulation of funeral plans is contained in articles 59 & 60 of The Financial Services & Markets Act 2000 (Regulated Activities) Order 2001. Funeral plans can be exempt from direct regulation through adherence to some basic protections, the key being separating the assets needed to carry out the funeral from the provider.  However, Royal London (who hold the funds) are regulated by the Financial Conduct Authority and authorised by the Prudential Regulation Authority.