Unfortunately, one day you'll probably have to plan a…
The National Funeral Trust is an independent Trust Fund that was set up to protect funeral plan customers and funeral directors of Dignity (or to be precise, Dignity Pre-Arrangement Limited).
It ensures that, in the unlikely circumstance that Dignity went out of business at any point, their customers will still receive the funeral services they paid for.
The Trust was set up not long after the first funeral plan in the UK was sold by Dignity in 1985 and is regulated by the Funeral Planning Authority (FPA).
Dignity Pre-Arrangement Limited also provides direct cremation funeral plans through Simplicity Cremations as well as other subsidiaries owned by the Dignity group.
Your money is in safe hands - funeral plans with Reassured
When you take out a funeral plan through Reassured, you can have peace of mind that your money is protected.
Our plans are fully FPA regulated, any money paid into your plan is held securely in an independent Trust Fund or a whole of life insurance policy.
When your funeral services are required, the funds are released and paid directly to the funeral director to cover the cost. Plus, the amount you pay for your funeral plan today remains fixed, no matter how much prices rise.
Funeral plans arranged through Reassured start from £19.11* a month.
Continue reading for more information on the National Funeral Trust...
The Trust holds and manages all the money paid by funeral plan customers, on behalf of Dignity.
It’s wholly separate and independent of Dignity and is managed by independent trustees.
The Trust is regularly monitored and every year there’s a full audit and valuation of the assets held.
The Trust is also carefully invested to ensure that there’s always sufficient funds to cover every customer’s funeral, as well as the increased cost of funeral expenses in the future.
Types of investments include equities, fixed interest, property, corporate bonds and cash.
Dignity Pre-Arrangement Limited is registered with the Funeral Planning Authority (FPA) - currently the only funeral plan regulator in the UK.
The FPA require that funeral plan providers must protect their customers’ money by holding funds in either:
The key difference is that the Trust Fund is specifically designed to ensure that the cost of the services included in each plan can be covered when the time comes.
For example, according to the National Funeral Trust annual report in 2019, the Trust held assets of approximately £3,299 per customer for their funeral, and the actual funeral costs averaged at £2,978.
Whereas an individual life insurance policy will have a fixed sum assured (pay out amount) paid to the trustees when it’s required.
A whole of life policy tends to be managed by an independent trustee for additional protection.
Compare funeral plans from the Co-op by using our award-winning broker service.
The Trust is managed by independent trustees and the investments are managed by several reputable investment firms.
See below the roles and responsibilities of the National Funeral Trust management:
The Managing Trustees
The Trustees have legal ownership of the Trust Fund and are ultimately responsible for the management and administration of the Trust.
The Custodian Trustee
The Custodian Trustee manages the Trust’s bank account in which the funds are held.
The Actuary carries out an annual audit and valuation of the Trust to ensure that it can meet all its future commitments.
Their role is to advise on investment strategy and to oversee the investments on behalf of the Trustees.
Other funeral plan providers use Trust Funds to hold their funeral plan customers’ money, as per FPA regulations.
Here are some examples:
These Trust Funds all work in the same way - they are completely separate legal entities to the plan provider and they are managed and assessed by independent trustees.
Reassured is able to compare multiple plans from one of the UK’s largest funeral plan providers on your behalf.
As there are a variety of different plans to choose from, we can help compare the plan features and prices so that you can find the best plan for you and your family.
Don’t forget, all plans arranged through us freeze today’s funeral prices by guaranteeing your funeral services, no matter when they are needed.
Not only that, but you can have confidence your future payments are protected with the regulations set by the FPA.
Make the most of our FEE-FREE award-winning service by getting in touch today.
*£19.11 per month pricing includes a £75 discount only available to Co-operative members and is based on a 50-year-old purchasing a Co-operative Simple Funeral Plan at £3,020 over the maximum term available of 25 years (total amount repayable £5,733.40) as of 1st March 2021
The National Funeral Trust Annual Report 2019 https://www.dignityfunerals.co.uk/funeral-plans/media/11001/nft-annual-report-2019.pdf
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At Reassured, we will provide you with quotes from Co-op Funeral Care.
All of the funeral plans we provide are fully regulated by the Funeral Planning Authority (FPA) ensuring you and your money are protected.
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