Daily Insurance Industry News
 
 
Daily Insurance Industry News
Tuesday 14th of August 2018
June 5, 2010

RIAS launches Life Plan

by Gill Montia

Story link: RIAS launches Life Plan

Over 50s insurer, RIAS, has launched a new life assurance policy aimed at offsetting funeral costs, and underwritten by sister company, Fortis Life.

Premiums for the Life Plan start at £5 a month and with the average cost of a funeral standing at £2,7331, RIAS suggests the policy could provide a welcome relief to family members left behind.

Customers aged between 50 and 75 years are guaranteed acceptance and therefore have no medical questions to answer.

In addition, the plan also offers the following key benefits:

Three times cash sum paid out if a customer dies accidentally within the first two years (a benefit which RIAS claims is unique in the market).

One-and-a-half times premiums returned if the customer dies for other reasons in the first two years.

A choice of premiums to suit different budgets and no payments required after the policyholder’s 90th birthday.

In addition, cover can be increased every year to keep pace with inflation.

 

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