Your Guaranteed Funeral Plan is designed to cover the costs of your chosen
funeral services, supplied by Dignity. Those services are paid for when you
pass away with a Life Insurance Policy provided by Phoenix Life Limited. Your
monthly premiums, which rise a little each year to keep up with rising costs,
pay for that Life Insurance Policy.
By choosing the Guaranteed Funeral Plan, you have agreed that the pay out
from the Life Insurance Policy will go straight to Dignity when you die, after the
policy has been in place for two years, and all premiums are paid when due.
This Policy is provided by Phoenix Life Limited which trades as SunLife, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority
This Policy is a life insurance policy which, after the first two years following the Policy Start Date, provides a Cash Sum on your death. Accidental Death Benefit applies to this Policy in the first two years after the Policy Start Date which means the Cash Sum may be payable if you die as a result of an accident. See Terms and Conditions of the Life Insurance Policy section 3. This Policy has no cash-in value at any time.
- Your acceptance for this Policy is guaranteed provided that you meet the eligibility criteria set out below.
- If you die after the first two years after the Policy Start Date, a Cash Sum is payable.
- If you die within the first two years after the Policy Start Date as the result of an accident, and within 90 days of the accident from injuries sustained in it, the full Cash Sum may be payable. See Terms and Conditions of the Life Insurance Policy, sections 2 & 3.
- Your monthly premium will increase on each Policy Anniversary for a maximum of 20 years. The premium will increase by a fixed amount equal to 5% of the monthly Starting Premium, rounded down to the nearest whole penny. After a maximum of 20 increases, the premium will then stay level for as long as it remains due and payable.
- Premiums cease to be due and payable on the Policy Anniversary immediately before your 90th birthday, or on your death, if earlier. No more premium payments will be due after this.
- Provided you do not choose to stop the premium increase, the Cash Sum will increase by 3.2% each year, on each Policy Anniversary, until your death.
- You are eligible for this Policy provided that, at the Policy Start Date:
- You are aged 50 – 80.
- You are resident in the UK.
- The total amount of life cover under all life insurance policies you hold with Phoenix Life Limited is £18,000 or less and the total of your premiums under all life insurance policies you hold with Phoenix Life Limited does not exceed £100 a month. See Terms and Conditions of the Life Insurance Policy, section 1 for full details.
- If you die during the first two years after the Policy Start Date, other than where the Accidental Death Benefit is available, the Cash Sum will not be payable. Instead, all the premiums paid as at the date of your death, will be paid to your Estate. See Terms and Conditions of the Life Insurance Policy, section 3.
- If you stop paying your premiums, when due, for any reason, your Policy will be cancelled; the Cash Sum will not be payable; and you will not get any money back.
- If premium increases are stopped, the Cash Sum will not increase and will remain at the level in force immediately before the premium increase was stopped.
Your cover under the Policy will continue for the rest of your life, provided you keep paying your monthly premiums when due.
You have the right to cancel your Policy within 30 days of receiving your policy pack. Any premiums you have paid during this time will be refunded. After this period, you can cancel your Policy at any time by writing to us. However, the Policy has no cash-in value at any time. Where this Policy is being used as part of a SunLife Guaranteed Funeral Plan brought to you by SunLife Limited, please see the Terms and Conditions of the Life Insurance Policy, section 6.
View Policy Summary and Terms And Conditions