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Funeral benefit option explained

Looking to help with funeral costs? – the funeral benefit option lets you boost your cash sum at no extra cost

 

If you are looking to use your Over 50s life cover plan to help pay for your funeral costs, then it may be worth considering adding this free service to your plan.


When you choose the Funeral Benefit Option, the cash sum paid out when you die plus an additional £250 or 10% will go directly to the funeral director to help pay the funeral costs. 

 


 

How it works

In exchange for you committing to have your plan assigned to a funeral plan company, you will receive an enhanced cash sum. 


This means that when you die, the money paid out from your Over 50 life insurance plan will go directly to a specified funeral plan provider and used to help pay for your funeral service with a local nominated funeral director. 


In agreeing to use the plan in this way, the plan provider will add a further £250 or 10% to your cash sum. If however there is any shortfall when it comes to the funeral director's fees, your family or your estate will be asked to pay the balance.

If you are thinking of leaving a cash sum for any other purpose, then you shouldn't choose this option.