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With the Funeral Benefit Option, what happens if the cost of a funeral is greater than the cash sum from the plan?

April 26, 2017benefit cash COST funeral greater happens option Plan

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With the Funeral Benefit Option, what happens if the cost of a funeral is greater than the cash sum from the plan?

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If the cost of the funeral is greater than the cash sum from your plan, then your estate or next of kin will need to pay the difference. If however the cash sum is greater than the cost of the funeral, than the difference will be paid to your estate by Legal & General and may be subject to Inheritance Tax.