Getting The Best Funeral Insurance Plan for Australians

Preparing for the inevitable is something that many people may not want to think about but it is necessary to have a financial plan in place for when the day comes. Funeral insurance provides the safety net to cover the numerous funeral costs without putting unnecessary burdens on loved ones. By paying for the insurance monthly, Australians can have a pre-paid, comprehensive package available when a loved one dies.

Funeral Insurance Defined

Funeral Insurance is a pre-paid policy that can cover all the costs involved with the funeral. Monthly payments are made by the insured to the insurance company. Upon the death of the insured, the funeral director will receive the funds to cover the costs for all aspects of the funeral from body preparation to chapel service to burial. The big advantage of funeral insurance is that it allows the insured to take advantage of current prices and not have to pay the prices that may be in effect at the time of death.

Reasons to Have Funeral Insurance

Death will occur, so having the costs covered upfront makes good sense. As mentioned above, having funeral insurance that is paid monthly removes a significant financial burden that may exist when a person dies. It is also beneficial because the insured can make plans well ahead of the time when emotions will not affect decision-making. More careful thought and planning can occur upfront when a funeral insurance policy is purchased.

Things That Funeral Insurance Covers

Funeral insurance will cover many of the things that are involved with a funeral but may vary depending on the insurance policy and the coverage selected. But these are the key things that most funeral insurance policies cover:

  • Casket
  • Embalming and preparation of body
  • Funeral service
  • Celebrant
  • Flowers
  • Limousines and transportation
  • Burial plot
  • Head stone

While these are some of the basic things that are typically covered, customers should inquire with the insurance company to be sure of the coverage that they will get at the time of death. They should find out if the policy has inflation coverage that will provide adequate payment for the above items in the future. It is smart to make sure that any desired extras are spelled out in the policy so that there won’t be any surprises when the time comes to utilize the policy.

Getting Funeral Insurance Quotes

As has been outlined above, selecting a good funeral insurance policy is a smart move for Australians. Cost savings, peace of mind, and advanced planning are some of the reasons why having funeral insurance is a good idea. The final step to getting a good funeral insurance plan is obtaining price quotes. When getting quotes, there a certain factors that a customer should consider when comparing quotes and coverage. They are:

  • Coverage for all family members
  • Accidental death benefits – Double or triple benefits
  • Money back guarantee
  • Free monthly or fortnightly payments
  • Lifetime policy
  • No limitation due to health problems
  • Age limitations for guaranteed coverage

Once an ideal price is achieved for funeral insurance that has the desired coverage, Australians can rest assured that they will have the peace of mind necessary to ease any financial burdens for their family at the time of death.

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