Whole of Life Insurance - UK - May 2012
“Guaranteed acceptance plans are suitable for over-50s adults looking to plan the cost of their funeral, as they have now become almost synonymous to funeral plans. Product development and partnerships between insurers and funeral providers have blurred the lines between the two products over the years. The fact that many consumers take out life insurance to plan for funeral costs is extremely positive for the over-50s protection market, as demand for guaranteed acceptance plans should remain strong – especially as the average cost of a funeral continues to increase.”
– Stevan Obradovic, Financial Services Analyst
Some questions answered in this report include:
- Why do consumers take out life insurance?
- How are regulatory changes having an impact on the market?
- Is there a high level of mistrust in the over-50s life insurance market?
- Are guaranteed acceptance plans essentially a funeral cost planning tool?
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