Family Protection Plan Withdrawal
Tuesday, 3 November 2026
Contributions
Frank McNally (Coatbridge and Bellshill) (Lab)Labour
2. What discussions he has had with the Financial Conduct Authority on the impact of the withdrawal of the family protection plan by CMutual and Maiden Life Försäkrings on policyholders.
The Economic Secretary to the Treasury (Lucy Rigby)Labour
I thank my hon. Friend for his work on the family protection plan issue, which I know affects hundreds of his constituents and many other people. As he knows, we have engaged with the FCA on the impact of its withdrawal. I want to see this matter resolved in a satisfactory way, and I look forward to engaging with him further to that end.
I thank my right hon. and learned Friend for her response and her work on this matter. The most vulnerable families paid FPP funeral cover for 25 years because it was all they could afford, and data shows that since its withdrawal, only 3% of policyholders have been able to secure alternative cover and at least 61 people have died without funeral protection. Despite numerous industry forum meetings to explore redress, no solutions have been agreed, even for the oldest and most vulnerable. Will my right hon. and learned Friend meet me, MPs with affected constituents and the independent coalition of credit unions as a matter of urgency, so that we can try to identify any possible next steps?
I will. As I said, I want to see this matter resolved in a satisfactory way, not least due to the ongoing harm that my hon. Friend describes.
Source: UK Parliament Hansard API. Debate ID: 5430949.