National Friendly launches over 50s Guaranteed Life Assurance

Bristol-based mutual National Friendly has launched a new life assurance product aimed specifically at people aged between 50-80 years old. The new whole of life policy pays out a guaranteed lump sum at death and can be used to cover funeral costs, outstanding debts and to leave money to loved ones. The policy can also be placed in trust so beneficiaries receive a tax-free lump sum. Funeral costs "Average funeral costs have almost doubled in the past 10 years and the average person in the UK owes £8,000, on top of any mortgage debt," said Wayne Carter, head of sales and marketin...