With the Increasing Plan your cash sum is reviewed each year in line with the change in the Retail Prices Index (RPI). Your premium will also be reviewed each year and will increase by one and a half times the change in RPI. RPI may not rise at the same pace as funeral costs.
If you’re worried you won’t be able to afford the increase in premium, you can decline the increase following your annual review. If you do this the cash sum will remain the same from that point, and inflation will reduce its value in the future. You won’t be able to increase your cash sum or premium in future years.