Pays out a guaranteed tax-free cash sum when you die.You can leave money to your family or help pay for your funeral.Is a handy way to help take care of some of the financial considerations your family may be faced with when you die.
You can nominate friends, loved ones or registered charities to receive up to £5000 of your overall payout when you die. If there is any money left over it will go to your estate. The total amount paid out normally counts as part of your estate and may be subject to Inheritance Tax.
50 to 79
You choose the amount
Level benefit basis
Guaranteed to be accepted without a medical
100% payout if you become terminally ill
20% payout if you become terminally ill
Premiums guaranteed never to rise
5 % discount for online purchase
If you die within the first two years as result of an accident pays out 3 times the sum assured to a maximum of £48,000
No medical or health questions
Premiums will cease at age 90 but cover will continue
Care advice from Grace Consulting
Bereavement advice from Co-operative Legal Services
Wills service from Co-operative Legal Services
Legal advice from Co-operative Legal Services
Health support from Red Arc
If you die in the first two years then cover is restricted to 150% of premiums paid.
In some cases there may come a point when the premiums paid will exceed what would be paid out on death. The lump sum paid out may be subject to inheritance tax unless the policy is written in trust.
Funeral funding option with Co-operative Funeralcare