Legal & General signs up to ‘Funeral Payment Pledge’
9 Jul 2018
Legal & General has today announced the launch of its own ‘Funeral Payment Pledge’ that will see the FTSE 100 insurer pay part of a life insurance claim early and advance up to £10,000 to help bereaved families pay towards a funeral.
The pledge covers all life insurance policies with a death benefit claim and the offer of payment will be made by Legal & General if they are not already in a position to pay out the full claim value and if the funeral payment is outstanding.
The announcement goes above and beyond the Protection Distributors Group’s (PDG) ‘Funeral Payment Pledge’, which called on insurers to do more to support a policyholder’s family by proactively offering to advance up to £5,000 of a claim for funeral costs. The Group previously encouraged insurers to go beyond the minimum £5,000 advance, as not enough policyholders have a will or trust in place to support beneficiaries when a claim is made.
Read the full press release via the link below.
We recognise that families dealing with the death of a loved one can often find themselves facing unexpected costs at what is already a very distressing time... We firmly believe that this new commitment will give extra peace of mind for our customers, offering them an extra level of support when they need it most.”
Mark Jones, Product Director at Legal & General