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.
When you apply for our over 50s life cover plan we will ask you during the application process if you would like the funeral funding option. To start your over 50 life insurance application now, simply apply online now.
If you already have an Engage Mutual over 50s life cover plan, and would like to add the 'funeral funding option' please click here.
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 Mutual. 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 £3,745**.
**Source: Research carried out by Brass, May 2011.
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.
important things to remember
You can only apply a Legal Charge to a single policy. If you have multiple Engage Mutual 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 Mutual 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.
