Funeral or burial insurance is often the best answer. With the average funeral costing close to seven thousand dollars, it is a good idea to do some careful planning. Grave markers, flowers and cemetery expenses are extra. It can add up very quickly.
The term, funeral insurance is a little confusing. It is impossible to buy an insurance policy that will cover the exact amount of the funeral. The policy is really a whole life insurance binder that will leave a small amount of money for relatives to cover the expenses of death. The family is free to do whatever they want with the money, but it is intended to cover final expenses.
Most big insurance companies do not sell funeral insurance. They only sell larger policies and do not deal in numbers under twenty thousand dollars. There are several smaller, well known insurance companies that do offer these policies, and many of them have guaranteed acceptance. In other words, there are no health requirements. No physical is required and so anyone can be covered. The policy is basically a whole life insurance plan and money is built up over the years and can be withdrawn at any time. Of course, if the money is withdrawn, the policy ends and so the person no longer has the needed coverage.
The idea of no medical exam can sound very good, but often the rates will be very high. Some people may have no other choice. For someone who is healthy, it might be a better option to buy a whole life policy and use it for funeral expenses. It will be necessary to answer health questions and take a medical exam. Usually, it is very simple. A nurse comes out to the house and does the complete exam in a very short amount of time.
Before buying any policy, it is a good idea to read all the fine print and make sure everything is in order. Many times these policies will not pay a death benefit if someone dies within the first three years. That is something to consider when buying the policy.
It is also possible to buy funeral insurance from many funeral homes. The funeral company will have a licensed agent on the staff who can sell a preneed policy. Everything is prearrange and the policy will only cover that exact amount. Visit http://www.iselect.com.au/
Whatever someone chooses to do is a personal issue. A good insurance agent will be able to offer several options and walk through the complete process. Not burdening family with final expenses is a common goal for most people and with a little foresight, it can be taken care of. Make a call today and no one is ever to young to start planning. It is the prudent thing to do.
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iSelect has been helping those unsure of which insurance provider to go with for over ten years now. Customers can get in touch with iSelect either through their nationwide call centres or online, with the team at iSelect able to provide customers with solid advice, helping customers make the best decision regarding their own situation.