The Exeter has signed up to the Protection Distributor Group’s (PDG) Funeral Payment Pledge.
This means that members of its Real Life and Managed Life policies, which are specifically designed for those who typically find life cover difficult to obtain, have the reassurance that their family will not be burdened with the stress of having to find funds for funeral costs in the event of their death.
The Exeter has pledged to advance up to £10,000, double the PDGs minimum pledge, which would be paid directly to the funeral director if the worst should happen.
The Exeter’s Real Life product is for customers who have suffered either serious or multiple health conditions, including cancer or heart problems, or who have previously been declined cover. Managed Life is responsive life cover for sufferers of type 2 diabetes or those with a high BMI.
Andy Chapman, chief executive at The Exeter said: “We felt signing up to the funeral pledge would be particularly beneficial to our life insurance members, because some of them are already dealing with serious and often very complex medical conditions, many of which are potentially life-limiting.
“Together with being able to secure life cover, something many had been unable to do in the past, they now have the additional reassurance that their families could access funeral funds while their death claim was still being processed.”
Alan Knowles, chair of the Protection Distributors Group, added: “Seeing The Exeter commit to the Funeral Payment Pledge, is another example of insurers doing their best, to do right by their customers. The immediate financial concern when a loved one dies, is how to pay for their funeral.
“The last thing that people should be doing is taking out loans or entering into financial difficulties, to pay for a funeral, especially when they have had life insurance in place. This commitment by The Exeter to join the PDG funeral payment pledge, is a clear sign that they want to support their clients and truly deliver upon their promise, that their families will be looked after if the worst should happen.”