A letter from our Managing Director: why we’re supporting the Financial Conduct Authority regulation

March 29, 2022 

Why the new regulations are a positive step for our industry, what it means for our customers and how we keep their money safe

Following the recent news about Safe Hands going into liquidation, I just wanted to take the time to reassure our current and future customers about One Life and their funeral plans.

Richard Brewster, Managing Director

As I am sure many of you have seen, the prepaid funeral planning industry will, from 29 July, be regulated by the Financial Conduct Authority. This means, that from this date the FCA will expect companies to ensure compliance with their strict conduct rules to ensure they treat their customers in a fair and open manner at all times.

At One Life, we believe in being professional and treating our customers with respect, kindness, and fairness. That’s why we see these regulations as incredibly positive for our industry, purely and simply because it’s in the best interest of our customers.

At One Life, we take all of our responsibilities very seriously. I want to take this time to reassure our customers that the money they pay for their funeral is safe, secure and will be there at their time of need. Like lots of other reputable providers, the money our customers pay towards their funeral is held safely in an independently managed Trust Fund.

Our Trust is audited every year by an independent Actuary and based on the last report, our funds are being managed exceptionally well. So, our customers have no need to worry – the money is safe and there when they need it. When the One Life Trust was first put in place, we were already aware of the rules new regulations by the FCA.

Again, I’d like to offer reassurance to our customers. All of our people are fully onboard with the Financial Conduct Authority’s new regulations. We’re here for the long-term and will do everything we can to support our customers with their later life planning.

If any of our customers – current or new – have any questions about the new regulations or would like some more information, get in touch on 0333 339 9399 and the team will be more than happy to help.

Richard Brewster, Managing Director One Life Funeral Planning Ltd

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