Royal London, a UK-based mutual life insurance and pensions firm, has rolled out a new pre-paid funeral plan.
Dubbed Traditional Funeral Plan, the new product aims to protect the buyer against the risk of rising funeral costs in the future.
The insurance plan covers the costs of funeral directors’ fees, a coffin, the funeral service, a limousine and cremation or burial costs.
The plan can be purchased by paying a monthly premium of £29. It also includes safety features, such as a payment holiday, to help customers if they fall into financial difficulty.
Customers can customise the plan to as per their needs, with the option to upgrade or add elements to the services that are already included.
Additionally, the plan will enable customers to leave a contribution for loved ones to spend on additional costs including flowers, a wake or a headstone.
Royal London has selected Ecclesiastical Planning Services to provide the funeral services selected by the customer.