Funeral Benefit Option

What the Funeral Benefit Option does

By adding the Funeral Benefit Option to your Over 50 Life Insurance policy you are agreeing to use the Funeral Director that the insurance company is introducing you to for your funeral.  In return for making this choice the Funeral Director will give you a discount on the cost of your funeral – typically anything up to £300 is taken off your funeral bill.

The Funeral Directors are offering this discount as they want you to tie into them to be your funeral provider.  Typically a Funeral Benefit Option can be cancelled at any time even after your death so even if you do take this option you can change your mind later and remove it from your Over 50 Life Insurance Policy – your insurance company should not charge you for adding or removing it.

Key Things To Know

  • It’s free – Funeral Benefit Options are typically free to add to your policy
  • Upto £300 discount – Funeral Benefit Options should get you a discount off your final funeral bill of up to £300
  • It ties you to a particular Funeral Director – the Funeral Benefit Option will be with a particular Funeral Director, typically one of the big national firms
  • Big is not always cheap – these big National Funeral Directors are often more expensive than local ones so check their prices online
  • Change your mind – you can change your mind anytime and cancel the Funeral Benefit Option on your Over 50 Life Insurance without charge
  • Take the pressure off your loved ones – you can leave instructions for the Funeral Director of what you want your funeral to be like
  • No claims process – typically with a Funeral Benefit Option in place the Funeral Director will handle the claim on your Over 50 Life Insurance policy for your next of kin
  • Only one chance – typically if you have had a Funeral Benefit Option before and cancelled it then the you cannot add it back again

Our Opinion

We think that the Funeral Benefit Option is generally a good idea for someone buying an Over 50 Life Insurance policy.  It gets you up to £300 discount on your funeral for free with no obligation to use it if you or your next of kin change your mind.  The only downside is that to get the discount you have to use a particular Funeral Director, typically it will be one of the national firms of Funeral Directors who may be more expensive than local firms of Funeral Directors.

The Funeral Benefit Option also gives you a chance to leave instructions of what you want your funeral to be like – this can take a huge amount of pressure off your loved ones as they don’t have to decide what you would have wanted after you’re gone.