If you want to have your life in order, it also means that you look beyond the here and now. That is why you also want to have that very last part properly arranged. Funeral insurance is indispensable for this. This way you ensure that there is enough money available to pay for a funeral. Surviving relatives are not saddled with unexpectedly high costs and have to arrange less. That’s a nice thought. Funeral insurance is an insurance that is guaranteed to be paid out and that makes this insurance unique. There is quite a bit of choice in the insurance world. That is why it is good to know what to look out for if you want to compare a funeral insurance policy . After all, it is a very personal choice.
What exactly does funeral insurance do?
A funeral insurance policy ensures that you build up a savings bank over the years, with which your next of kin can arrange a funeral. Every month you pay an amount in premium. The total amount that you want to insure depends on your wishes. Because what kind of funeral do you have in mind? An average funeral or cremation costs about 8,000 euros. It all depends on how simple or comprehensive you want it to be. The insurance is paid out in capital or in kind. This means that a sum of money is paid or that services around the funeral are arranged. This differs per insurance. Think carefully about what you want and record it. It is all the easier to take your personal wishes into account later.
Premium and term
The amount you have to pay monthly in premium can vary considerably. The insurance determines this by taking into account your age, the amount you want to insure and the term of the insurance. The older you are, the higher the premium will be. After all, at a higher age, the risk of death is greater. With some insurances you continue to pay premium for the entire term, with others the payment stops when your savings bank is full. Most insurance policies ask you to complete a health questionnaire. Sometimes additional research is required. Because just like your age, your health determines how high the premium amount will be. So think carefully about what you want in advance. This will help you to find the right insurance that meets your personal wishes.