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Why Funeral Insurance Is Becoming So Popular – 6 Reason to Opt For It

October 2, 2017 by admin in Insurance

 

Funerals can be quite challenging. The stress of a loved one dying or you being the recipient of a terminal illness from which you might pass away in the next minute makes you look at things differently.

What people don’t realise is that planning their funeral ahead of time is not morbid, but actually helpful. Yes, in some cultures, this might be considered inappropriate but in the Western civilisation, people are more open to this. Not only does this allow them to plan their funeral according to their wishes, it gives their loved ones the opportunity to mourn them in peace rather than run around and make arrangements.

How Funeral Insurance Helps

The upfront payment allows you to pay for your own funeral, rather than passing this burden on to your family. When a person dies, companies like freedominsurance.com.au pays the cost of all funeral related expenses.

According to finance Magpie, the cost of a funeral in the UK last year was £8,800. This includes the casket, the arrangement, catering, estate administration payment and a memorial. So, to save your family from this burden, here are 6 reasons why you should buy funeral insurance now:

1. Save On Future Rising Costs

By starting early, you will get a better deal on your insurance. This way, you don’t have to worry about rising premiums or economic conditions.

2. No Health Restrictions

Funeral insurance is mostly bought by people over 50, who are unemployed, have some kind of illness or are no longer eligible for life insurance. Since, there are no restrictions on funeral insurance; you can buy it no matter at what stage of life you are.

3. No Extra Cost on Prepaid Funeral Insurance

Say you have completed all your payments for the insurance, what happens now? Well, when you pass away, the funeral house and the family will get the amount without any extra costs i.e. if you don’t want additional services.

4. Scratch Life Insurance from Your List

Granted, life insurance offers you more benefits but if you are not eligible for it, buy funeral insurance immediately. The goal is to provide your family relief during a hard time and you will with this policy.

5. Peace of Mind

We cannot stress enough the importance of insurance policy. With the right funeral insurance policy in your hand, you can be assured that your family will take care of everything easily.

6. Add Details According to Your Liking

Whether you are going for burial insurance or prepaid funeral insurance, all the details can be set by you.

A funeral insurance policy does not involve any risks. It’s a great alternative to life insurance policy. Life is too short and you never know when you might meet an accident and pass away. To help your family cope with the loss of a loved one and the expense of the funeral, it’s a smart choice to buy funeral insurance.