Mutual society OneFamily has warned of an emerging gap within life insurance policies to adequately cover funeral costs.
The warning follows recent research which found that 42% of funeral plans and life policies don't offer enough cover for an individual's needs. It also found that just over one third (42%) of those with a policy in place to cover funeral costs were only covered for a total value of £3,000. Meanwhile, one quarter (24%) of respondents said they were only covered up to £2,000 despite funeral costs for a cremation and simple service for example, costing roughly £3,290 on average according to the provider. One fifth (20%) of surveyed adults with less than £4,000 in funeral cover wanted ...
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