Your cash sum and premiums are reviewed each year to help protect your cash sum against inflation. Our Increasing Plan is a simple way to give your family a helping hand. The cash sum can be used towards unpaid bills or even a gift to your loved ones. You can also use the plan to contribute towards funeral expenses.
The Increasing Plan offers:
- Guaranteed acceptance for UK residents aged 50 to 80 with no medical or health assessment
- Premiums start from £8 a month depending on age
- Get an extra £250 towards your funeral costs with the Funeral Benefit Option
Important things you need to know
- Your cash sum is reviewed each year in line with the change in Retail Prices Index (RPI). Your premium will also be reviewed each year and will increase in line with the change in RPI multiplied by 1.5. To keep pace with inflation you need to make sure you can meet the premium increases over the years. RPI may not keep up with future rises in funeral costs. What is RPI and how does the annual review work?
- If you die from natural causes within the first year we will refund any premiums paid, unless you die as the result of an accident, when we will pay your cash sum. Terms and conditions apply. Please refer to the section 'What exactly does accidental death benefit mean' in the
Fixed and Increasing Policy Summary (PDF: 254KB) for more details.
- We will pay your cash sum if you die after one year from the start of your plan regardless of the cause of death.
- Depending on how long you live the total premiums paid could be greater than the cash sum paid out on death.
- Premiums stop on your 90th birthday but your cash sum continues to be reviewed each year for the rest of your life. Please be aware if you stop paying your premiums when due, your plan will be cancelled and you won't get anything back.
- This is not a savings or investment product and has no cash value unless a valid claim is made.
- You can place the plan in Trust to help make sure the cash sum is paid to those you wish to benefit from the plan
- You can take out more than one plan as long as the total of all the initial premiums added together is not more than £50 a month. This includes any existing Legal & General Over 50s Plans you may have. However, you can only take out one Insured Funeral Plan.