Increasing Cover Option

Reduce the effect of inflation on your cash sum

The cost of funerals is rising all the time, and with the effects of inflation the cash sum that you decide to leave to your loved ones today will not have the same spending power in the future.

However, you can help protect your family against rising costs by selecting our increasing cover option.

With increasing cover, your premiums and your cash sum will automatically increase by 5% of the starting premium and cash sum on the anniversary of your policy. This means the increase will be the same fixed amount of money each year. This will help reduce the effect of inflation on your cash sum, so when the time comes your loved ones will still receive a useful cash sum to help pay for funeral expenses or unpaid bills, or to enjoy as a gift.

How the option works

  • You can select the increasing cover option when you start your policy – although it cannot be added later.
  • Every year, on the anniversary of your policy, the cost of your premium and cash sum will rise by 5% of your starting chosen premium and cash sum.
  • Your starting premium and cash sum will increase every year for 20 years or until you reach your 90th birthday, whichever is sooner. If, at the end of the 20 year period you are under age 90, your premiums will continue to be payable until your 90th birthday but with no further increases and your cover will continue at its then current level until you die.
  • You can remove the increasing cover option at any time and your premium and cash sum will then remain fixed at their then current level.

Want to ensure your cash sum goes towards your funeral costs?

The funeral benefit option ensures your policy will contribute towards the cost of your funeral, although it does not guarantee to cover your full funeral costs. When you choose this option you will also be eligible for a £250 discount on your funeral costs. Find out more about our funeral benefit option.

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