A beautiful and fitting farewell is up to you or your next of kin to control it. A beautiful farewell costs money; An amount of between 7,000 – 10,000 euros for a funeral or cremation is quite normal. Not everyone can spend that amount on a funeral. Funeral insurance can then be a solution and take financial worries away from the next of kin.
What is funeral insurance?
If you have taken out a policy, the funeral insurance will reimburse the costs of your funeral (or part thereof). Costs for a fitting farewell are relatively high. With funeral insurance, you arrange that the costs are covered. In addition, sometimes you also determine the content of your farewell.
What costs are associated with a funeral?
The costs of a funeral are not only burial and cremation and a coffin or urn. Certainly not if you want to make it a special farewell. A drink or lunch for 20 or 200 people is a huge difference. Or do you want to have a special coffin or your ashes scattered by plane over the sea? Do you have your favorite playlist or do you want live music? Or do you want a funeral at a very special (and expensive) location?
Before you want to take out funeral insurance, it is good to think about whether you are going for an average funeral at average cost or whether you really want to make something special out of it.
Funeral insurance premium
It is therefore logical that there are different types of insurance for your funeral. With cheap funeral insurance, you pay less premium per month if you insure relatively young. If you record things right away, the costs will be lower. If you eventually die, the insurer will ensure that everything is arranged.
If you want just a little or a lot more during your funeral, the insurance premium will of course also be higher. Whichever insurance you choose, the sooner you take out, the lower the premium. And a low amount per month is often easier to afford than a high amount at once.
It is wise to consider funeral insurance when:
- You don't have a budget of 7,000 to 10,000 euros
- You're relatively young
- Want to unburden your next of kin
What funeral insurance policies are available?
There are roughly three types of funeral policies. With in-kind insurance, you buy a package of services. For example, a ceremony, coffin and coffee table for a certain number of people. A number of your choices are then immediately fixed. When you take out endowment insurance for your funeral, the insurer pays out an amount in the event of death. This can be used to pay for the funeral. With this policy, you do not make any choices in advance. The combination insurance is a combination of the first two.
What should you pay attention to when taking out a funeral policy?
Of course, on the price. But when it comes to a ratio between price and quality, it is advisable to also take a good look at the conditions of the policy and how much freedom of choice you have. And finally, don't forget the additional terms and conditions and the fine print!
On the internet you can find several comparison websites regarding insurance. You can compare prices and packages there.