Those unfortunate enough to have suffered the loss of a loved one know the toll bereavement can take.
While never lessening the emotional devastation bereavement causes, life insurance has been there for centuries to ease the financial impact.
But for those coming to terms with a life changing loss, money worries can seem like the tip of the iceberg.
Times, though, are changing and many insurers recognise that the support customers need goes far beyond the purely financial. Many are now providing practical, legal and emotional support services to help tackle the uncertainty that often follows bereavement.
An emotional lifeline
It is, of course, impossible to take away the emotional turmoil caused by the loss of a loved one and though the bereaved may have friends or family to support them, it may also be beneficial to have access to counselling.
Aviva, for example, offers bereavement counselling for adults and children as a standard with its protection policies. And, most crucially, this support is there for the family even after the claim has been settled, because those that have suffered a bereavement will tell you that it is often many months after the death occurred, when friends have returned to their own lives, that the need for emotional support is the greatest.
Life insurance policies can vary significantly in terms of the extra support services provided, and far greater support is available by picking the right policy.The loss of a loved one also brings a plethora of legal and administrative tasks. From obtaining a medical certificate and registering the death, to settling the estate/financial affairs and notifying relevant government departments. These are just a few of the responsibilities left for the family to deal with, at a time when they are least able to cope.
To help ease the burden, some insurers now offer practical support to customers, such as fast-tracking death claims payments to cover funeral arrangements – a great step forward for the industry.
So if you look a little closer at the policies you recommend, you will find those that go the extra mile to truly be there for customers when it matters the most.
Modern policies for modern families
Life insurance policies can not only help with a range of uncertainties that can arise following the loss of a loved one; for cohabiting families that may not necessarily benefit from government support, it can be an essential lifeline.
Despite being the fastest-growing family type in the UK, UK laws have not always kept pace, and an unmarried parent may not be entitled to the same benefits as if they were married, following the death of their partner.
For non-married families looking for greater certainty and support should the worst happen, life insurance policies can provide an essential safety net, as these can be taken out by all couples – whether married, in a civil partnership, cohabiting or divorced.
When having any conversations with clients, financial advisers are well practiced in considering the whole of the individual’s needs, beyond core financial protection and life insurance, and offering the right solutions for their individual circumstances.
Life insurance policies can vary significantly in terms of the extra support services provided, and far greater support is available by picking the right policy.
In the case of bereavement in particular, while insurers can’t take away the pain, it is good to know that many are recognising that customers need more than just a claims payment at such a difficult time, and are providing much needed support to help families get back on their feet following a bereavement.
Mark Cracknell is head of protection distribution at Aviva
