These are financial products sold through intermediaries (certain funeral directors), but not every Funeral Director provides these products. In most cases the funeral plan provider and the underwriting company can be UK based.
The UK Treasury’s Call for Evidence (June 2018) found significant consumer harm in the market, including the mis-selling of products by intermediaries in the UK, poor disclosure and high upfront costs.
To ensure that UK consumers receive the product they’ve paid for, and that customer funds are looked after and used responsibly the UK Financial Conduct Authority (FCA) have been investigating the plans and expect to take responsibility for the regulation of the sector in summer 2022. If you have, plan to take out or plan to provide funeral plans it is important that the plan provider apply for authorisation and enable them to continue trading after that date.