This news came after multiple warnings from the Advertising Standards Authority (ASA) for adverts that “trivialised the issue of suicide” and most recently, featured Harold Shipman “because you never know who your doctor might be."
In a statement issued on its website, DeadHappy said, “We wish it was different, we believe it should be different, but unfortunately not everyone agrees. To all our existing customers please don’t worry, your policies are protected.”
Customers have been told, “Although life insurance might look incredibly easy on the surface, there’s a lot of moving parts going on underneath. Sometimes a part can break, and in this instance, we’re doing our very best to fix it.”
Despite criticisms for its “maverick advertising,” DeadHappy’s strategy has been defended by some in the industry as a “breath of fresh air that has done little to keep up with customers’ needs.” John Clark, Director at Grapefruit Life, thought the team did a “great job making life insurance more attractive to younger clients […] I hope DeadHappy re-launch again.” Leee Anderson, Head of Protection at APEX Mortgage + Protection, also liked DeadHappy’s “humorous marketing for the most part.”
READ MORE: Dead ‘unhappy’ told to close doors to new life insurance customers
DeadHappy has now entered administration. Adam Stephens and Kevin Ley of Evelyn Partners LLP were appointed as joint administrators (the “Administrators”) of DeadHappy on the 24th June 2024.
The Administrators are licensed as insolvency practitioners by the Institute of Chartered Accountants in England & Wales and as such are bound by the Insolvency Code of Ethics when carrying out all professional work relating to insolvency appointments.
DeadHappy has said all policies remain valid and customers should make payments as they have done previously.
The Company remains regulated by the Financial Conduct Authority (FCA) and the Administrators will continue to liaise closely with the FCA as the administration process progresses.
