Written question asked by Geoffrey Cox (Conservative) on Wednesday, 25 March 2009, in the House of Commons. It was due for an answer on Friday, 27 March 2009. It was answered by Ian Pearson (Labour) on Wednesday, 1 April 2009 on behalf of the Treasury.

Insurance: Funerals

Question: To ask the Chancellor of the Exchequer if he will bring forward measures to ensure that elderly people paying towards a funeral plan can be issued with a paid-up policy rather than continue to pay premiums in excess of the sum assured.

Answer: The regulation of whole of life insurance policies sold to help meet funeral expenses is a matter for the FSA. Insurance policies are based on the principle of sharing risk between policyholders, and the terms of these policies must be explained to the consumer. If a consumer does not feel these terms were explained and they are unsatisfied with the response to their complaints to their provider, they can ask the Financial Ombudsman Service (FOS) to consider their case.

Secondary information