The Exeter has confirmed it has signed up to the Protection Distributor Group’s (PDG) Funeral Payment Pledge.
As part of the pledge, The Exeter will advance up to £10,000 to be paid directly to the funeral director. The amount is double the minimum pledge set out by the PDG.
The Exeter stated the move means its real life and managed life policies now give a reassurance that clients' family will not be burdened with funding a funeral in the event of their death.
Andy Chapman, chief executive at The Exeter, said: "We felt signing up to the funeral pledge would be particularly beneficial to our life insurance members, because some of them are already dealing with serious and often very complex medical conditions, many of which are potentially life-limiting.
"Together with being able to secure life cover, something many had been unable to do in the past, they now have the additional reassurance that their families could access funeral funds while their death claim was still being processed."
The Exeter’s real life product is for customers who have suffered either serious or multiple health conditions, including cancer or heart problems, or who have previously been declined cover.
Managed life is responsive life cover for sufferers of type 2 diabetes or those with a high BMI.
Alan Knowles, chair of the Protection Distributors Group, said: "Seeing The Exeter commit to the Funeral Payment Pledge is another example of insurers doing their best, to do right by their customers.
"The immediate financial concern when a loved one dies, is how to pay for their funeral. The last thing that people should be doing is taking out loans or entering into financial difficulties to pay for a funeral, especially when they have had life insurance in place.
"This commitment by The Exeter to join the PDG funeral payment pledge, is a clear sign that they want to support their clients and truly deliver upon their promise, that their families will be looked after if the worst should happen."
Alan Lakey, director of CIExpert, said: "This is excellent news. Exeter has always been a forward-thinking insurer that focuses on good customer outcomes.
"This will undoubtedly assist the families of deceased members who often struggle to find money at a time of grieving."
