AXA partners Newcastle in over 50s life plan

by Gill Montia

Story link: AXA partners Newcastle in over 50s life plan

AXA Sun Life has joined forces with Newcastle Building Society to launch a Guaranteed Over 50s Plan aimed at those who don’t want to burden their nearest and dearest with their funeral costs.

The new life cover is available to Newcastle members aged between 50 and 85 regardless of their health history, and pays out a guaranteed fixed cash sum.

The insurer points out that average funeral costs across the UK have risen by as much as 42% over the last five years, with Londoners paying the most for a decent send-off.

Research by the group puts the typical funeral cost in the Capital at£4,600, excluding extras like flowers, headstones and catering.

Anyone reluctant to run up such a substantial bill post-mortem should move to the North East where the average funeral bill amounts to a mere £2,626.

Premiums for the Guaranteed Over 50s Plan start at £6 a month with the first month’s subscription free and a welcoming gift awarded to each new policyholder.