PRESS RELEASE: Co-op launches offer for those hit by unexpected £1,500 funeral bill

We've launched a discount of up to £400 off funeral costs

We have launched an offer to provide financial support to families who face a shortfall on funeral costs due to Over 50s policies.

With effect from 2 July, we will be offering families whose loved one had an active Over 50s policy in place when they died a discount of up to £400 off the cost of a funeral.

The support has been put in place after business data revealed that, on average, families using an over 50s policy to cover funeral costs face a financial shortfall of £15251.

Across the UK over 380,000 Over 50s policies are taken out annually, with the majority (78%) of customers taking these policies out to cover funeral costs. However unlike some funeral plans such as the Co-op’s which fully guarantee funeral costs, over 50s policies pay out a cash lump sum when the individual dies with no guarantee that this will cover the funeral cost in full.

Research we conducted, found that over half (51%) of those who intended to use their Over 50s policy to pay for their funeral are unaware there may be a shortfall, and a fifth (21%) don’t know how their funeral cost would be met if their policy didn’t cover the bill in full.2

Our new offer has been launched to provide Over 50s policy holders and their loved ones with additional support to help address any potential shortfall on future or immediate funeral costs.

For Co-op members who had an active Over 50s policy in place when they died, the we're offering a discount of £400 off the eventual cost of policy holders funeral3 whereas a £300 discount will apply for non Co-op members. Both policy holders and arranging clients can apply for the discount by completing a certificate of entitlement4 on from our website.

Matt Howells, Managing Director of Co-op Legal and Later Life Planning, comments: “Earlier this year we highlighted a worrying trend which is leading to thousands of families being hit with an unexpected bill of £1500 on average after their loved ones Over 50s policy failed to fully cover funeral costs. More often than not, these products, are failing to keep up with the expectations of those who take them out and we’re committed to playing our part to support families impacted by this issue by helping to reduce financial gap so often faced with these policies.”

Find out more about the offer.


1Co-op Funeralcare internal business informationbased on six months’ data in 2017. Analysis done on all funerals conducted by Co-op Funeralcare that came from a Funeral Benefit Option on a guaranteed Over 50s policy

2Research among 1,000 Over 50s policy holders conducted by YouGov on behalf of Co-op Funeralcare

3 Offer applies on Simple, Classic, Traditional and Woodland funeral

4 Terms and conditions apply.

Differences of a funeral plan v. other ways of paying of your funeral

Pre-paid funeral plans

Over-50’s cover

Can I pay monthly?



Does it protect against funeral inflation?



Is it clear what funeral costs will be covered?


Shop around as funeral plan providers vary


Will I get to specify my wishes to get the send-off I want?



Does it offer support to me and my family from when I buy the plan to the delivery of my funeral?



If I cancel, will I get my money back?

Y  (less a cancellation charge see T&Cs)

X (dependent on the insurance provider)

Is a medical required?



Is the pay-out guaranteed to be put towards paying the cost of my funeral?



For further information contact

Lauren Pogson

Senior PR Manager