Funeral Cover is one of the types of insurance policies that people procrastinate on. It’s much easier to focus on things like your child’s college fund or retirement planning, but for some reason we neglect to consider how our loved ones will be impacted in the event of our death.
Whether you are just starting a family, happily single, or you have a few dependants, it’s a good idea to consider a funeral policy. Not only will your friends and family have to deal with your loss when you pass, but they might also have to carry unnecessary financial burdens that you could have provided for.
Different policies offer various benefits. Some of the things that typical funeral insurance policies cover include the following:
- Costs associated with your passing: Things such as embalming and preparing the deceased
- Costs associated with the funeral: A funeral casket, hiring a pastor or priest, flowers, hiring a funeral home
- Transport: The cost of transporting friends and relatives to the funeral home and the grave site
When you invest in a funeral policy, you will usually be required to pay a fixed amount of money each month. Upon your passing, the beneficiary or beneficiaries of your policy will then receive a lump sum of money that they can use to cover the costs of your funeral and other related expenses. The terms and conditions will vary between policies, so make sure you ask all the necessary questions and that you have peace of mind that your family will have quick and easy access to funds in the event of your death.
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