Legal & General is giving IFAs access to a pre-paid funeral product provided by Dignity.
Dignity launched the first funeral plan in the UK in 1985. More than 350,000 people have taken out a funeral plan with Dignity.
The product allows people to pre pay for their funeral at today’s prices and guarantees to cover the cost of the cremation funeral regardless of rising market prices.
Martin Noone, protection distribution director at Legal & General, says: "This is a new addition to the wide range of products available to the IFA market through Legal & General, complimenting the current financial planning services offered by advisers to their clients aged over 50. It also provides advisers with a new income stream which is useful given the current economic climate."
There are three plans available to customers over the age of 50. All have a set price and all include the arrangements for a cremation funeral although a burial option is available. Acceptance is guaranteed and there is no upper age limit and no health restrictions.