Really most of the people are not looking forward to planning for their death, but when you realize the benefits of having funeral insurance, you may understand the important of certain proactive steps. Funeral insurance can also be termed as pre-planned insurance plan or burial insurance, which is a part of life insurance. Funeral costs continue to rise and the costs of an average funeral have risen sharply in the last decade. To minimize expense and stress surrounding our demise a certain amount of planning and direction is needed beforehand. While such thought may seem dark, it is needed and should be done by everyone who wishes to have things organized in the end. Funeral insurance does not serve you, the policy holder. Rather, it serves those who will be there when you pass away.
Reasons to apply for Funeral Insurance Plan:
Funerals can be very expensive, often costing thousands or even tens of thousands of dollars. Family and loved ones of the deceased person do not need the extra burden of paying for such an expensive event, while dealing with the normal grieving that everyone goes through. Planning ahead by having a reliable carrier will take much of the unnecessary stress away from those left to pick up the pieces after the death of a loved one.
What Cover is Included?
The cover that the insured will receive for will vary from plan to plan, depending on the wishes of the individual. Often, those planning for this future event decide on a lump sum that they feel will cover their needs. Plans often range based on the services they are providing, such as: whether the person will be cremated or buried, the type of urn or coffin they prefer, the amount of flowers they would like at their service as well as picking out a of grave plot.
Are Premiums Expensive?
Again, everything will be based on the type of service one wants to have. A lot will depend on the age the person is now, and how much they would like to pay monthly, and for how long they want to pay the premiums. Someone interested in obtaining such service should request several quotes from different carriers, to see which plan and provider is right for them. Of course, those looking for such cover should make sure that the potential provider has a good reputation, and is known to pay out on claims made. Most companies do not offer refunds on premiums; the amount is only payable upon the death of the claim holder.
Whether it is possible to get Funeral Insurance for the Whole Family?
Many companies are offering a discounted rate for couples, or even whole families. Those looking for such cover must request quotes from different Funeral service providers. However, in most of the cases all the family member should need to apply individually.
One of the benefits of these Funeral insurance policies is that it is very easy and can be accessible to everyone. As anyone can get it, you don’t have to run behind insurance agents to get yourself a funeral insurance policy. Normally you need to pay a premium on a monthly basis and not in the half yearly or yearly basis. This policy won’t put much pressure on you financially.