Established 1863

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info@redroseassurance.co.uk

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Family Group Funeral Plan
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Family Group Funeral Plan

It is a fact of life that we all eventually need a funeral. As Benjamin Franklin said ‘In this world nothing can be said to be certain except death and taxes’.

The Red Rose Friendly Society Family Group Funeral Plan gives you and your dependants the peace of mind that a lump sum will be provided to help meet some or all of the costs. The average basic funeral now costs about £3,700 (source: Money Week magazine, October 2015).


Main Product Features

  • Easy payments

    Up to 6 family members can be covered by one regular monthly premium

  • Protection for your family

    The standard premium covers a family of 2 grandparents under the age of 70, 2 adults and 2 children under the age of 26. Quotes can be provided for other family mixes.

  • Guaranteed acceptance

    No medical or health questions. Acceptance is guaranteed but there is a waiting period of 18 months before life cover commences (for death from natural causes). Maximum sum assured of £10,000.

  • Tax free

    The proceeds of the policy are free of any income or capital gains tax as long as the premiums are maintained until the time of a claim

  • Fixed monthly premium

    Premiums start from as little as £11.98 per month. The initial premium will not increase throughout the term of the Plan unless there is a change of life assured

  • Lifelong protection

    You have the peace of mind that you have lifelong protection for as long as the premiums are paid and the sum assured will be sent promptly to your nominated person

Things to consider

You will find more information about the Family Group Funeral Plan in the key features document and below are some important points that we want you to be aware of:

  • The sum assured is not paid if death occurs from natural causes within 18 months of the policy starting.  After 18 months (or on accidental death within the first 18 months) the full sum assured will be paid
  • The policy does not pay out in cases of suicide
  • If you stop paying premiums the cover would cease and there is no premium refund payable
  • Inflation will have an effect on the future purchasing power of your Plan
  • HMRC could change the tax status of these types of policy in the future
Family Group Funeral Plan
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Product Comparison Table

Product
Over 50s Plan

Family Group Funeral Plan

Funeral Expenses Plan
Min prem £10 £11.98 £10
Max Prem Sum assured up to £25,000 £59.90
(for £10,000 sum assured)
Sum assured up to £25,000
Min age at outset 50 17
(min age of proposer)
50
Max age at outset 75 69 75
Min term (years) None None None
Max term (years) None None None
Fixed term No No No
Flexible contributions No No No
Life cover Sum assured plus bonuses paid if death occurs after 2 years of start date. Return of premiums if death in first 2 years. Sum assured paid if death occurs after 18 months of start date. Return of premiums if death in first 18 months. Sum assured plus bonuses paid if death occurs after 2 years of start date. Return of premiums if death in first 2 years.
Transferable No No No