Have you ever thought about how your costs will be managed at the time of your burial? Yes, thinking about death and the expenses it can lead to isn’t nice, but if you really care about your family, you should ponder over this. When you pass away, your family is already affected emotionally. In stressful times like these, unplanned financial expenses can cause even more worry. But, if you have planned well, and planned in advance, you can save your family from all this trouble.
Think about getting funeral insurance. Yes, it means bearing with additional expenses right now, but your family will be relieved later when they don’t have to deal with any finances. So resolve to review your funeral insurance costs, and start planning for them right now.
Why should you get funeral insurance?
Because it saves your family from financial trouble in stressful times
We have already talked about this, but let’s touch on it once again. Funeral insurance policy covers all your burial expenses, and your family wouldn’t have to spend a penny.
Because claims are processed within 24 hours
Yes, we know. Insurance claim takes ages to be processed, but not when it comes to funeral insurance. When a claim is made, most of the insurance providers pay the money within a day or two. So your family gets instant cash without having to wait or borrow from others.
And by the way, there isn’t too much paperwork involved in making a claim; it only takes a short time.
Because it’s convenient
What’s better? Paying a lump sum amount of money, or paying small increments? Obviously the latter; your funeral insurance doesn’t put any strains on your pockets.
Funeral insurance is also convenient in the sense that you don’t have to pass any kind of medical tests or fulfil a long list of requirements.
Because you get peace of mind
Once you have funeral insurance, you are guaranteed that your family won’t face any trouble in terms of expenses when you pass away. So, this gives you as well as them a piece of mind; one less thing to worry about is always good.
So what is funeral insurance?
In the simplest terms, it’s a policy that covers all your burial expenses. There are obviously details in terms of the monthly increments and other things, but at the basic level, it is coverage for your funeral.
And no, it isn’t like life insurance; yes, your family gets a financial benefit, but the two are very different, each with a different purpose. Life insurance can provide some monthly income to your dependant, but funeral insurance is only meant for the final expenses.
What are the main features?
The coverage amount ranges between $4,000 and $30,000.
Accidental Death Benefit
If you pass away in an accident during the policy’s waiting period, your family can get a lump sum amount.
Author: Haris Q
Latest posts by Guest Writer (see all)
- It is Never Too Early for Millennials to Start Financial Planning - October 16, 2017
- How To Manage Debt Effectively - September 27, 2017
- How Millennials Save Money On Their Car - September 27, 2017