Co-operative Funeralcare Funeral Plan is it safe?

mmunro2013

Not sure if you can help, however my parents have a Co-operative Funeralcare Funeral Plan and what with the recent uncertainty within the Co-Op group were wondering if this is still safe? Do you have any insight or view please?

dzug1

I can't see any reason why it would be any less safe than it was.

Even if it were what would/could you do about it?

mjdh1957

The current problems are at the Co-op Bank, so I can't see how the funeral directors bit would be much affected.

bongonaut

To the best of my knowledge, Co-op funeral plans have always GUARANTEED to cover the Co-op funeral directors services as selected, AND the third-party fees for crematorium, doctors certificates and a minister. If the funds held in the plan have been affected by any financial downturn, then it's the Co-op that will lose out, not your parents.

I've also heard speculation that some Co-op funeral branches could be sold off, but even if that were to happen, the guarantees on the plans remain in place.

Camper2

Having just bought two funeral plans from the East of England Co-op this set me thinking - was the money safe (ie you get the cash back) or is the plan honoured (you get your funeral) if the co-op goes bust?

I emailed them and the result was it is the plan that is honoured:

"I can reassure you that the money for our Pre-paid Funeral Plans is invested into the Royal London Group and is therefore separate from the Society, so if the Society should fail the plans will be honoured"

Needless to say - a copy of the email correspondence will be filed along with the funeral plan, just in case!

The East of England Co-operative have a cheaper plan than the Co-op. If you are interested in a 'no frills' funeral plan then give them a look - cheap plan and Divi too. We now have one each, just in time for Christmas - does this make the strangest Christmas present ever?