A Notice Regarding Rest Assured Funeral Plans’ FCA Application Status

Lily

All Funeral Plan providers are required to be authorised by the Financial Conduct Authority (FCA) from 29th July 2022. Rest Assured Funeral Plans has been preparing for this since March 2021 with an application submitted on October 15th 2021.

After careful consideration we have decided to withdraw our application for authorisation, as we feel that this best suits the needs of our clients. We are working to agree a transfer of our existing Funeral Plans to a new provider, who will be authorised and regulated by the FCA. Once agreed, we will write to plan holders to confirm the details of the change.

The result of this transfer will mean an increased level of protection and greater peace of mind for our clients. All existing clients do not need to do anything to facilitate the transfer as this will all be handled internally.

An independent actuarial report carried out in March 2022 has shown that the assets of the Rest Assured Trust materially exceed its obligation to provide Funeral Plans to existing clients at a level of 111.7%. Therefore, plan holders need not be concerned about their purchase and whether their Funeral Plan contracts will be honoured.

Cancelling Funeral Plan contracts after the 30-day cooling off period has always been at the discretion of Rest Assured Funeral Plans. Unfortunately, it is no longer possible to cancel your Funeral Plan after this time, as this would negatively impact our ability to transfer existing plans to a new provider.

We would like to thank all of our plan holders for their support throughout the lifetime of the business. Should you have any questions about the transfer of a Funeral Plan, please E-mail us at questions@restassuredplans.co.uk

The Rest Assured Funeral Plans Team.