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Daily news update: Partners Life discontinues funeral cover, and more stories

Partners Life announced that they will no longer be offering funeral cover to new applicants as they have found that demand for the product is minimal. Although this decision was made earlier in the year, Partners decided to prolong the announcement date to ensure COVID-19 updates did not overshadow this announcement. Customers with existing cover will continue to receive product enhancements.

“As such, we have made the decision to discontinue Partners Life Funeral Cover for new policies effective today (15th June 2020). While this change may seem sudden, we had originally intended to discontinue Funeral Cover earlier in the year, however wanted to ensure it did not get swept up in, or lost amongst COVID-19 related changes and communications.

Of course, clients with existing policies will continue to remain covered and receive product enhancements and full support from Partners Life for as long as they stay in-force, as is the case for all existing Partners Life policy holders.”

In other news:

Insurer says May, June claims levels are almost back to normal

COVID-19 has increased demand for financial advice

Alert Level 1: what have advisers learnt from lockdown?

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