Funeral home Yarden was allowed to change the terms of a funeral insurance that covered all expenses without the customer’s consent. Otherwise, the company will not have enough buffer to meet the financial obligations set out in the law in the future. Which Judge the Financial Services Complaints Institute (KIFID).
Around 380,000 customers have taken out such insurance in the past. It does not pay a specific amount, but reimburses all costs of a funeral, from the coffin to the cake.
Yarden had not adequately accounted for cost increases and was therefore in dire straits. To avoid falls, customers had to pay for future cost increases from January 1, 2020.
More than 120 customers filed a complaint with KIFID. The latter states that the change in the terms and conditions was also in the interests of the customer: In the event of insolvency, things are even worse for them.