Strengthen regulations for funeral insurance policies

I am shocked that thousands of credit union members are faced with the loss of funeral insurance cover. The insurer, Maiden Life, has cancelled policies leaving their customers out of pocket from 1st December 2025.

This is causing significant impact on individuals and families across Glasgow. The result is financial pressures when families are grieving for a loved one. These families have been left to find money for funeral expenses pushing them in to debt and financial hardship.

The distress of organising a funeral is intensified by the stress of having to scrape together money for funeral costs. They can find they are unable to do perhaps what that person wanted or what they feel is right to honour that person. It is making some people suffer ill health due to the strain, both mentally, and physically.

It can be overwhelming for families to deal with as the cost of dying has reached a record high in the UK.

It is vital that the Financial Conduct Authority and credit unions are able to establish a compensation scheme offering support for those who have a Family Protection Plan and explore emergency actions to prevent funeral poverty.

With reference to the discussions of Funeral Service Reform at the UK Parliament,  we can request that there are measures put in place to strengthening the Financial Conduct Authority’s regulatory framework.