Funeral Payment Helping Hand is a funeral expenses advance payment from leading protection specialist Royal London. The introduction of the feature comes after Royal London’s lobbying of the Irish Government to overhaul the country’s current probate system. At present, if a death claim in Ireland is delayed due to probate, the deceased’s family are likely to face a lengthy wait until their loved one’s estate is settled and its proceeds distributed.
In Ireland, the average wait for a grant of a probate is 489 days; or 16 months. When compared to the UK, a jurisdiction with a very similar legal system, the average delay is just 3 to 4 weeks. During the course of its lobbying, Royal London found that only 1 in 5 people believe probate in Ireland will take longer than 12 months.
That’s why Royal London has launched Funeral Payment Helping Hand. The feature is designed to help alleviate some of the financial burden which can arise when seeking a grant of probate in Ireland. For claims which are accepted, but delayed due to probate, Royal London will now provide an advance payment of up to €10,000 to cover funeral costs of the deceased.
Barry McCutcheon, Proposition Lead at Royal London explained, “Every interaction with brokers and their clients is important to us, but the claims stage is the key moment of truth. Brokers will be very aware of the frustration that probate delays can cause clients and this is also a frustration to us, especially when you consider that once probate has been granted Royal London can, on average, pay the full claim within 5 days. Our introduction of Funeral Payment Helping Hand will hopefully bridge this gap.”
When Royal London is made aware of a claim which is subject to probate, they will explain to the Executors that Funeral Payment Helping Hand is available and how it works. Royal London will then pay up to €10,000 to cover funeral costs such as the coffin, burial plot and death notices. The payment can be made to the Funeral Director directly or to the Executors of the estate upon producing a Funeral Director invoice or receipt. Brokers and Executors acting on behalf of the family will be notified once the payment has been made.
Once probate has been granted, Royal London will pay the Executors the deceased’s sum assured minus the amount advanced to pay for the cost of the funeral.
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