Lifebroker compares leading insurance companies to find you the right funeral insurance cover. With instant cover options, extended opening hours and simple processes, access to funeral insurance has never been so easy or efficient.
What is Funeral Insurance?
The death of a loved one can be an emotionally exhausting experience. While most of us prefer not to think about the deaths of those we care about most, it is important to be well-prepared should the unexpected occur.
Organising a funeral can be an expensive ordeal. Funeral insurance helps alleviate at least part of the stress during this difficult time by providing an elected beneficiary with a lump sum payment upon the death of the policy holder. This lump sum payment can be used to cover the wide range of expenses which may arise when planning a funeral.
Funeral Insurance differs from Life Insurance in that it is specifically tailored to help with all expenses relating to the funeral of a close friend or family member. Funeral Insurance provides you and your family with piece of mind and financial security during one of the most difficult times any person has to go through.
What are the benefits of Funeral Insurance?
Even if you foresee yourself leaving behind a substantial estate, when you pass away there are immediate and pressing expenses which your loved ones will be required to shoulder. It can take weeks and even months for a deceased person’s estate to be settled and released to any nominated benefactors.
The most immediate benefit of Funeral Insurance is that upon the death of a policy holder, the family or elected beneficiary will receive a lump sum paid directly to them. This payment can help to cover all expenses associated with the organisation of a funeral.
Whilst we may prefer not to think about it often, expenses such as the purchasing of a casket or urn, flowers, a burial plot, the grave marker and a myriad of other costs can escalate out of hand quickly. Having funds made immediately available to any family members for funeral planning will go a long way to helping them work through and alleviate at least part of the stress of the difficult months ahead.
Who is best suited to taking out Funeral Insurance?
Funeral Insurance is unique in that there is a much later age restriction for applications. People from the age of 50, up to and including the age of 70, are welcome to make an application for Funeral Insurance.
Those who are, for whatever reason, unable to meet the financial criteria for complete Life Insurance cover may be able to consider Funeral Insurance as a way of ensuring that in the event of their death, the burden and strain of impending funeral expenses is not passed directly onto their family.
Alternative names for Funeral Insurance
Also known as Burial Insurance.
See also: funeral insurance quote