Most of us want to leave our loved ones with happy memories, not a difficult funeral bill. This simple, but free, addition to Over 50s Life Cover policies could help put both your and your loved ones’ minds at ease.
It's something you should consider adding to your Post Office Over 50s Life Cover policy if you want the cash sum to pay towards your funeral. Adding it won’t cost you a penny more. But it could help make a difficult time easier for those left behind.
Your policy payout could be paid directly to Co-op Funeralcare to arrange and help pay for your chosen funeral
Depending on the type of funeral you choose with Co-op Funeralcare, you’ll be eligible for a discount of up to £250 towards its final cost
Your loved ones will be supported through the process at a difficult time
You can add the funeral benefit option to your Over 50s Life Cover when you apply or any time later.
When the time comes, a payment will be made to Co-op Funeralcare. They’re one of the UK's leading funeral directors, with over 800 Co-op funeral homes. So there’s always a funeral director ready to support your family.
With a single call, a funeral director will take care of all the arrangements. And they’ll work with your loved ones to create the type of funeral you’ve said you want. This can be a huge help at a difficult time.
Depending on the funeral type you choose, the funeral benefit option can also come with discount of up to £250.
| What it includes | Discount |
|---|---|
| When Co-op Funeralcare arrange a tailored funeral with you, the first thing they’ll do is listen. Then they’ll advise, guide and inspire you to create a tailored funeral arrangement. From a horse-drawn hearse to a favourite colour theme, you decide what you want, and they’ll do their best to make it happen. | £250 |
| What it includes | Discount |
|---|---|
| The essential funeral is a simple, lower-cost option that provides everything needed for a funeral. This option might suit if you want to keep costs down or a simpler send off. | £100 |
| What it includes | Discount |
|---|---|
| A direct cremation is an unattended cremation without a funeral service. This allows the person arranging the funeral to choose their own way to remember their loved. This can be at a place and time that suits them. | £50 |
Put arrangements in place now so you can concentrate on enjoying life. It's easy to get a quote for Post Office Over 50s Life Cover. Don't forget to add funeral benefit option to receive up to £250 discount.
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No. It doesn’t cost extra to add the funeral benefit option to your over 50s life cover policy.
If you bought your policy on or after 22 February 2021, you can add the funeral benefit option. That’s also long as:
If you take out a different funeral plan in the future, the funeral benefit option will be cancelled. Once you remove it, you can’t add it back on.
You can remove the funeral benefit option any time before your death. If you die, those who represent you can remove it too. But they’ll need to do this before Co-op Funeralcare has been instructed to provide your funeral service.
If the funeral benefit option is removed at any time, the cash sum from your Post Office Over 50s Life Cover policy will be paid to your legal beneficiary. You’ll no longer be eligible for any discount that applies towards your funeral costs.
Using Co-op Funeralcare is the only way to qualify for the applicable discount. But it's possible to remove this option at any point before Co-op has actually been instructed to provide the funeral.
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It doesn’t cost anything to add the funeral benefit option to your policy, but you do need to make sure you maintain the monthly payments on your Post Office Over 50s Life Cover policy. Failure to do so would result in your policy being cancelled, and in turn the Funeral Benefit Option also lapsing.
If your funeral with Co-op Funeralcare costs less than the combined value of the payout from your Post Office Over 50s Life Cover policy and the discount amount applied, any money left over would be paid to your legal beneficiary. However, if the funeral costs more than the combined value, your loved ones would have to pay the outstanding balance to the Co-op Funeralcare Director.
If you die within the first year of taking out your Post Office Over 50s Life Cover policy, any amount due under your policy would be paid to your legal representative, rather than Co-op Funeralcare. However, if your representatives decide to use Co-op Funeralcare for your funeral, they would still be eligible for the discounts available towards the final cost of your funeral.
If you die of natural causes after the first year of taking out your Post Office Over 50s Life Cover policy, any cash sum due under your policy will be paid to Co-op Funeralcare up to the cost of your funeral.
If you die as a result of an accident see Post Office Over 50s Life Cover terms and conditions for an explanation of accidental death) after the first year of taking out your Post Office Over 50s Life Cover policy, we will pay 2 times the full cash sum. Only your original benefit amount will be paid to Co-op Funeralcare up to the cost of your funeral. The remaining benefit amount will be paid out to your legal beneficiary.
Please be aware that inflation will reduce the value of the cash sum from your Post Office Over 50s Life Cover policy and the available discounts for funeral benefit option.
The funeral benefit option is not regulated by the Prudential Regulation Authority or the Financial Conduct Authority.
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