Legal & General signs up to ‘Funeral Payment Pledge’
Legal & General has today announced the launch of its own ‘Funeral Payment Pledge’ that will see the FTSE 100 insurer pay part of a life insurance claim early and advance up to £10,000 to help bereaved families pay towards a funeral.
The pledge covers all life insurance policies with a death benefit claim and the offer of payment will be made by Legal & General if they are not already in a position to pay out the full claim value and if the funeral payment is outstanding.
The announcement goes above and beyond the Protection Distributors Group’s (PDG) ‘Funeral Payment Pledge’, which called on insurers to do more to support a policyholder’s family by proactively offering to advance up to £5,000 of a claim for funeral costs. The Group previously encouraged insurers to go beyond the minimum £5,000 advance, as not enough policyholders have a will or trust in place to support beneficiaries when a claim is made.
Mark Jones, Product Director at Legal & General:"We recognise that families dealing with the death of a loved one can often find themselves facing unexpected costs at what is already a very distressing time... We firmly believe that this new commitment will give extra peace of mind for our customers, offering them an extra level of support when they need it most.”
Notes to editors
Established in 1836, L&G is one of the UK's leading financial services groups and a major global investor, with £1.2 trillion in total assets under management (as at FY25) of which c. 43% (c. £0.5 trillion) is international. We have a highly synergistic business model, which continues to drive strong returns. We are a leading player in Institutional Retirement, in Retail Savings and Protection, and in Asset Management through both public and private markets. Across the Group, we are committed to responsible investing and dedicated to serving the long-term savings and investment needs of customers and society.