Duncan Finch, executive managing director insurance for Legal & General, said the scheme will be trialled for three months in the northeast of England. It is expected to help up to 30 claimants.
He said the scheme will be run in conjunction with charity LegaCare, a UK-based charity that provides free legal advice and support for patients diagnosed with life-threatening illness.
Mr Finch added that Legal & General had committed £60,000 to the charity and pledged to continue its support.
He said: “Our charity partnerships with LegaCare and Macmillan Cancer Support help us to better understand the challenges our customers face when they are diagnosed with a serious illness and how we can improve our support for them.”
Margaret Kirby, founder and director of LegaCare, said the financial help from Legal & General would help the charity to develop and expand.
Simon Webster, managing director of Kent-based Facts & Figures Financial Planners, said: “Anyone at a ‘life crossroads’ requires professional advice. Whether that advice needs to come from a lawyer, an IFA or even an accountant will depend on the client and the amounts concerned.
“However access to advice at someone else’s expense for anyone in these sort of difficult situations has to be welcomed.”