Funeral insurance, also known as burial insurance, is a great and affordable way for you to protect your family and help them to pay for your final expenses after your death.
There are a number of reasons as to why you will need funeral insurance, with flowers, caskets, funeral home bills and more costing thousands and on top of that, you may have debts that you leave behind.
Here are the top reasons as to why you should have funeral insurance.
Adding Up The Costs Of Funerals
If you have ever had to pay for a funeral before then you will already know how expensive they are. Funerals and final expenses can easily cost thousands and many people will not have this type of money and even if your family does have this kind of money, wouldn’t you want them to keep that money?
With funeral insurance, your family will not need to fork out thousands to give you the send-off that you deserve. Funeral insurance will pay out a lump sum that will cover the costs associated with your funeral, which means your family will be protected financially from these.
Life Insurance Doesn’t Cover It All
Many of us don’t buy funeral insurance because we already have a life insurance policy and think that this will cover everything but think again.
Firstly, many of us do not actually understand our life insurance policy and have let it expire or we have let the premium lapse and the policy is no longer active. If you have a term life insurance policy, then the policy will expire when you reach a certain age, whereas a funeral insurance policy will never expire, which means that your family is guaranteed to get the money from the premium.
Also, how much did a funeral cost when you first got your life insurance policy? If you have had your life insurance policy for a while then a funeral probably cost a fraction of what it does now, so does your life insurance policy really cover the cost? Even if your life insurance policy does cover it, you may want your life insurance pay out to go towards helping your family with daily expenses and not towards your funeral.
With a funeral insurance policy, you allow your family to enjoy your life insurance money whilst still being able to give you the funeral you wanted.
Funeral Insurance is Affordable
Funeral insurance is more affordable than other types of life insurance. If you have another policy in place, then it is worthwhile looking to see if you are able to get anything better from a funeral insurance policy. There are a number of options out there that will suit your budget and offer what you need.
It’s a small price to pay for helping and protecting your family.
Applying For Funeral Insurance Is Easy
Funeral insurance applications are usually only a few pages long and all you will need to do is answer health questions and give your vital stats. This information is enough for the insurer to figure out your rate and give you cover.
In no time at all, you can go from having no plan to being covered when you die. You will also find a number of online companies offering online applications, which makes the process even easier to do. You can fill out an online form on some sites and receive multiple funeral insurance offers, which allows you to choose the best one for you and your budget. Once, you have found a plan that you like, you can apply easily and quickly.
So Is Qualifying
Funeral insurance doesn’t have all the medical requirements like life insurance does. Funeral insurance will only ask you a few minor health questions and you will not need to undergo a medical evaluation. You do not need to have perfect health in order to qualify for funeral insurance.
Choose How You Want Your Funeral To Be
The great thing about a funeral insurance policy is that you have the chance to make your own arrangements for your funeral. You can work with a funeral director and figure out the cost of your burial or cremation to ensure that your policy covers all these costs.
You can also make decisions that might be painful for your family to make and also your family may have different ideas about your funeral. You can make all the decisions from your urn/casket to the flowers and service beforehand and your family will have one less thing to worry about.
There are many reasons as to why you should get funeral insurance and the most important is that your family will not need to worry about money during this difficult time and you will not leave a financial burden on your loved ones.
Compare funeral insurance cover with online comparison sites that will gather multiple quotes for you from reputable companies, allowing you the freedom to compare and choose the best policy for you.