No one wants to think about death, which means that no one thinks about getting burial insurance, especially young people. Then, there comes a time in life that one has to organize a memorial service and regret not having some financial protection to cover all the costs. Regret always comes too late as they say.
Burying or cremating a dearly beloved is not cheap, as all prices increase every year, so does funeral costs. It depends on what you want to do for a memorial service. Keep in mind that burials are more expensive than cremation. Nonetheless, everything costs money, and you will have to pay for it either directly or open an account (if there is an option) to settle the payments.
What does a burial policy pay?
There are various options when it comes to getting a protection plan. You need to take time and think what must be covered in your funeral plan.
Your policy will settle all cost like the casket, burial ground, gravestone, cremation, flowers, venue, ceremony leader, transport, airtime, catering and so much more. Remember, every aspect that you want to be covered will cost you extra and increase your quote or monthly payment. If there are things that you want to do on your own, you can leave it out, and your premium will be lower.
Are funeral insurance quotes expensive?
When you compare it to other types of policies, like life or business insurance, it is less expensive. There are also various ways to make sure that you get an affordable plan. All you need to do is to compare different quotes from different companies. The one that offers you the most benefits for the lowest price will be the policy to take.
If the premiums are still too expensive, then you should think about reducing extras (things that you can do on your own for cheaper) and requesting customized quotes from various companies. There will be one insurance provider willing to assist you with your needs.
Are there aspects that will affect the price of the policy?
Yes, the funeral insurance premium will be affected by certain aspects regarding your life. Below is a list that you need to take into consideration:
- What is your age?
- Do you have dependents that you want to be covered too?
- Do you follow a healthy lifestyle, healthy food habits, and exercise?
- Do you smoke?
- Do you consume alcohol?
- Do you use other substances or medicines?
- Do you have any medical condition like cholesterol or cancer?
- Do you follow a high-risk career like extreme sport or high-pressure career like a CEO of a huge company?
All the answers above will have an impact on your quote.
Why is age matter when it comes to a funeral plan?
You can buy a policy between the ages of 18 and 65 years old. Before the age of 18, you need a parental or guardian permission. Young people are seen as seen as high risk, seeing that they are more likely to make decisions without putting some thought into it. After the age of 65, you will also be considered as a high-risk client. Therefore any insurance company will customize a policy and quote for you that will suit your age and requirements.
It is an excellent decision to consider getting a funeral plan since you will help your family much with the finances. You will get a memorial service and burial that you deserve because there are times when the family cannot afford these expenses and consider cremation because it is less expensive than a funeral. It is a win-win situation; your family will have rest knowing you are properly buried, and you can have peace of mind knowing that they will not struggle due to the rising costs of funerals. Naturally, it is worth getting for your family.