Beagle Street has signed up to the Protection Distributors Group (PDG) Funeral Payment Pledge to offer payments for funeral expenses for customers where bereavement claims may be being delayed.
The insurer, which is part of the OneFamily Group, will provide a £5,000 early payment to help with funeral expenses for valid claims for Beagle Street policies and those through the partnership with Virgin Money.
To ensure families have enough money to pay the funeral costs of a loved one with life cover, the PDG Funeral Payment Pledge commits insurers to offering some funds in advance, directly to the funeral director, when they can’t otherwise pay due to issues such as probate delays.
Early funeral payments offered to customers were one of the positive measures implemented by the sector highlighted by the Financial Conduct Authority (FCA) in its review of the death claim process.
However, it was also highly critical of many issues such as service level performance and monitoring.
In September Beagle Street revealed it was working on a proposition to enter the intermediary protection market next year, advancing from its current direct-to-consumer approach.
Beagle Street director of protection Ryan Griffin (pictured) said: “We are pleased to have joined the PDG’s Funeral Payment Pledge, as our focus continues to be on meeting customers’ needs and ensuring the process is simple and efficient.
“Making sure claims are paid out as quickly as possible will reduce the worry for bereaved family members at an already very difficult time.”
Protection Distributors Group chairman Neil McCarthy added: “It’s really positive to see another insurer pro-actively committing to the Funeral Payment Pledge, advancing a minimum of £5,000 to a funeral director when they otherwise can’t pay a valid claim due to delays such as probate.”
The PDG publishes a list of insurers each year which have met its claims charter commitments. In 2024 this list halved from 14 to seven insurers: Aegon, AIG Life, Guardian, Holloway Friendly, HSBC Life, Royal London and Shepherds Friendly.
Aegon closed to new business in 2023 and its closed book is now owned by Royal London while AIG Life UK was bought by Aviva earlier this year.
