Planning for the future
Our Funeral Funding Option is a free addition to your plan that
will make arranging your funeral much simpler. We have teamed up with The Co-operative
Funeralcare, to allow you to arrange a payment to be made directly from your policy
proceeds towards your funeral expenses. Please remember this is not a funeral plan
and would not necessarily meet the full cost of a funeral.
We have chosen to team up with The Co-operative Funeralcare because they are the
UK's leading funeral provider with a nationwide network of 1,100 Co-operative Group
Funeral Homes and a long and distinguished heritage.
Rather than this option costing you anything extra, The Co-operative Funeralcare
will make a £250 Contribution* towards your funeral costs. This will go towards
the cost of your funeral provided it is arranged through one of The Co-operative
Funeralcare Funeral Homes, another participating Co-operative Society or an affiliated
Funeral Director.
Adding this option is simple
All you have to do is let us know you want to add what is called a 'Legal Charge'
to your plan. This simply means all or part of the proceeds of your Over 50s Life
Cover Plan will be paid towards your funeral costs. Payment is made directly from
your policy to The Co-operative Funeralcare Funeral Director at the time of settling
the final bill.
If your payout is different to the actual cost
If the sum assured is more than the cost of your funeral, your nominated beneficiary
or administrator of your estate will need to claim the excess from engage.
However, if your funeral costs total more than your cover, your representative will
be responsible for settling the balance with the funeral director at the time of
arranging the funeral. It's worth bearing in mind that the average cost of a funeral
is £3,222**.
Make your personal wishes known
Included within this option is the chance to specify your wishes for the details
of service - so you get exactly what you want and your family aren't burdened with
the decisions.
Change your mind at any time
Our Funeral Funding Option is not irreversible. If you want to, you can change your
mind and remove the 'Legal Charge' from your plan. However, you can only do this
once and if it is removed, another Legal Charge cannot be applied in the future.
adding this to your plan couldn't be easier
When you apply for our Over 50s Life Cover Plan we will ask you during the application
process if you would like to apply a 'Legal Charge' to your plan. To start your
Over 50s Life Cover application now, simply click 'Apply Online' below.
If you already have our Over 50s Life Cover plan, and would like to add 'Funeral
Funding Option' to your existing plan, simply click 'Add to my plan'
below.
* Terms & Conditions apply
**Source: UK Funeral Costs Research. Prepared by Brahm for engage
Mutual Assurance, December 2007. £3,222 is the average cost of a burial in
the UK.
important things to remember
You can only apply a Legal Charge to a single policy. If you have multiple engage
Over 50s Life Cover plans please select carefully the one you want the Legal Charge
to be applied to. If you already have a policy through another provider that is
Legally Charged to The Co-operative Funeralcare, you cannot also apply a Legal Charge
to an engage policy.
A Legal Charge only applies if the funeral is carried out through one of The Co-operative
Funeralcare Funeral Homes, another participating Co-operative Society or an affiliated
Funeral Director. The Co-operative has a network of 1,100 funeral homes across the
UK.
A Legal Charge will take precedence over any nominations made against a policy.
Once removed, no future Legal Charges can be applied.
If you die within the first 2 years of taking out your policy, the Legal Charge
will not apply and the payout will be made under the conditions of your plan. However,
the £250 Contribution* towards the cost of your funeral will still be available
if it is carried out by The Co-operative Funeralcare.
Please remember this is not a funeral plan and would not necessarily meet the full
cost of a funeral.