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OneFamily Adviser

OneFamily to include funeral funding as standard on Over 50s product

Posted in: Corporate

OneFamily, one of the UK’s largest mutual insurers, is updating its Over 50s Life Cover product to include its funeral funding feature as an integral part of the policy from 3 February 2020.

The life cover provider is working in partnership with Golden Charter, who will arrange a payment direct to an appointed funeral director upon the death of the policyholder; meaning less worry for the next of kin.

Further benefits of the product include an additional £300 contribution towards funeral expenses from Golden Charter’s appointed funeral director, plus health support, legal advice and a care advice service.

Miles Bingham, OneFamily’s Distribution and Partnerships Director said,

“Our funeral funding cover is such a good benefit that we have made it integral to the policy, unless the customer wishes to opt out – for example if they already have this benefit with an existing plan.

“Funeral costs continue to rise, yet most people have made no provision and we know that a large proportion of over 50s have no savings either.

“Our refreshed product reduces the worry over how those funeral costs will be paid. So, everything is much simpler for those who are making the arrangements, at what is naturally a difficult time.

“We believe that, by offering funeral funding as a built-in feature, we have an Over 50s product that really stands out from the crowd.”

The OneFamily Over 50s policy already offers serious and terminal illness benefit as standard and guarantees acceptance, with no medical needed. Premiums start from £10 per month and customers can opt out of the funeral funding benefit at any time. It has also retained its Defaqto 5 Star Rating for 2020.

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