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 Family Group Funeral Plan

RED ROSE FRIENDLY SOCIETY LIMITED

A WORKING COLLABORATION IN MUTUALITY

 Protect your loved ones


Nothing can ever prepare us for the loss of a family member.

The Family Group Funeral Plan enables you to protect your loved ones from the costs of a funeral for a small monthly premium.

It gives you the peace of mind that the sum assured will be paid and help the financial burden during a time of great stress and grief.


KEY POINTS


The policy is designed to cover you and up to five family members.


For example: a spouse or partner, two children and two of the four possible (member’s and spouse’s) parents.

You choose the death benefit value to be covered and the monthly premium to be paid.


The policy pays the amount of cover you choose, regardless of the cost of the funeral.


The policy remains in place so long as the main member pays the premiums.


The benefit is paid on the death of any of the covered lives.


The member paying the premiums may nominate a replacement for any of the covered lives on:


a) the death of one of the lives covered

b) the break up of a relationship with the significant other

c) a child reaching the age of 26 or marrying

 

 The policy is cancelled if the member paying the monthly premium fails to do so.



The premium payer (Member One on the application form) must be a member of the credit union.


The policy has no surrender value at any time.


There is an 18 month waiting period before benefit can be paid on the first death. However, if there is an accidental death during the waiting period, the benefit is paid.*


An infant can be placed on the policy from age 1. The 18 month wait rule applies.*


Permanently disabled children are covered for life, as long as they are enrolled before age 26. The 18 month wait rule applies.


Should the member paying the premium die, one of the surviving beneficiaries can continue the policy without default, as long as they are (or become) a member of the credit union. The life can be replaced in accordance with family membership mix.


The Claim Procedure

The claims process is simple, efficient and timely.


We understand that the family will be going through a difficult time and we will deal with the claim sympathetically.


For a detailed outline of the claims procedure please review the Terms and Conditions and Key Features document.


PREMIUM RATES AND DEATH BENEFIT TABLE

BENEFIT COVER            PREMIUM PER MONTH


£2,000                 £11.00

£3,000                 £16.50

£4,000                 £22.00

£5,000                 £27.50

£6,000                 £33.00

£7,000                 £38.50

£8,000                 £44.00

£9,000                 £49.50

£10,000               £55.00


Plans cover up to six family members. The table above is based on 4 adults aged 26 – 70 next birthday and 2 people under 26 years old.


Other options are available for different premium rates.


No medical examination or information is required.


The Family Group Plan is subject to terms and conditions including:



 An 18 month waiting period

 Cancellation is monthly premiums are not up to date

 Death benefit may be subject to taxation

 The policy does not pay out for suicide


All information should be read in conjunction with the Terms, Conditions and Key Features document.

Red Rose Friendly Society Limited

Parkgates, 52a Preston New Rd

Blackburn Lancashire BB2 6AH

Tel: 01254 222702. Fax: 01254 222705

Email: info@redroseassurance.co.uk

Web:www.redroseassurance.co.uk

Established 1863 Incorporated under The Friendly Societies Act 1992 Reg No. 43

Authorised by the Prudential Regulation Authority and Regulated by the Financial Conduct Authority and the Prudential Regulation Authority