The funeral insurance is a policy used to cover the funeral and burial of the holder thereof. It is a kind of life insurance that provides financial support for the steps that require the death of a loved one.
What is funeral insurance?
The funeral insurance is a policy used to cover the funeral and burial of the holder thereof. It is a kind of life insurance that provides financial support for the steps that require the death of a loved one.Do I need one?
When a loved one dies, we have to face with immense pain and also to the economic uncertainty that leaves its departure. Get a funeral insurance can be very useful to help the family cover expenses related to death.This service offers the possibility of prepaying funeral expenses for family members will not have to pay for the funeral in difficult times. The costs included in this policy, frequently includes the grave, the funeral ceremony, the plot in the cemetery, the casket, among others. This insurance has no expiration date, and Insurance companies offer monthly or annual payments depending on the type of contract you have set.
Prices must vary according to age and gender, chosen funeral and burial service. Funeral claims families must be answered within 24 to 48 hours after receiving all necessary documentation which confirms death including the medical certificate of death and the policy contract signed.
This service can be broadly beneficial for older people suffering from increasing health problems and do not have sufficient funds to pay the funeral in one installment. Also for those doing extreme sports and adventure, or to those whose work or profession risk their lives daily.
Instead of placing the responsibility of the ceremony in your loved ones, you can take care of the details and organize the funeral as you wish to choose the best budget that meets your needs. In this way, the family will give the deceased loved one a proper burial without responsibility for its costs.
On the other hand, this is an accessible way to pay your funeral if we consider that one only payment the average value of this ceremony involves an expensive budget. As with other coverage, you must pay monthly installments (determined in the funeral plan). This way you avoid to your family should use their savings or ask borrowed money.
Another consideration:
– Age of the Insured.According to age and health conditions you have can also determine if this type of insurance is right for you or be more beneficial to purchase a life insurance policy.
– Many insurers set a waiting period before you can enjoy the benefits of this policy. If the insured person dies before the stipulated time, the family should take responsibility for the funeral costs. This timeout may be prudent for youngsters who are less likely to die during this period, while it is very risky when the insured is an older adult.
– The reputation of Insurance.
Check the financial rating of the insurance company before purchasing their services. The Web search engines are a great tool for getting feedback from others who have contracted their insurance before.
Think about your own death can be difficult, but, it is necessary to take preventive measures to prevent your family from large financial responsibility after your death.
Funeral insurance is an excellent proposal to guarantee payment of the funeral and to respect the wishes of the deceased regarding their last farewell.
