subject: Do Not Be Scamed By Funeral Insurance Policies [print this page] Getting funeral insurance is undoubtedly the responsible course of action for people who are worried about leaving their loved ones with funeral costs when they die. Most people don't take into thought that funeral expenses are high and leave their family with the financial burden of paying for these expenses. The coffin needs to be paid for, the cemetery plot as well as the undertakers for carrying out most of the burial services and in addition to that the deceased's family would usually provide tea and nibbles for the funeral guests.
How does one go about purchasing funeral insurance?
The various insurance institutions will have a variety of the various forms of funeral insurance and life policies that you can pick from.
In essence you are able to decide which policy is ideal for you by trying to see just what the premiums are on each of the various policies. Judging on what are able to afford to spend every month or which expenses you wish the insurance company to pay for you will select the policy.
What does funeral insurance cover?
Well just as with any product or service which you buy, you get benefits in compliance with what you purchase, although the basics of funeral cover is to cover all the expenditures with regards to your funeral. If you can only afford a standard casket and you pay for that then it is precisely what you will get.
What you should look out for when choosing an insurance policy
Regrettably some insurance carriers work in under handed ways when it comes to insurance policies, especially funeral insurance plans, after all when the covered person is no longer around it is less of a challenge for them to take liberties. That's why as the insured individual it is so important that you read your agreement carefully an be sure that you are clear on these following points.
o When one purchases a funeral insurance plan you are acquiring it for a certain amount. You have to pay off this amount every month in the form of premiums. Once you have repaid the insurance plan in full how sure are you that you will be able to get back whatever extra money is paid to the insurance company? This is something which must be looked into before you buy funeral insurance as some insurance businesses have a no cancellation clause.
o Make sure to confirm who your beneficiaries are. If there is funds left over after the undertakers has paid for your expenditures ensure that the named inheritor of any outstanding monies is not that of the funeral home or the funeral director.
o Check what the companies policy is on inflation. Many times close relatives need to pay extra money to cover inflation over the years. Be sure that the cost of inflation is calculated into the price of your insurance plan so that there are no surprises left for your loved ones.
These are just some of the guidelines you should bear in mind when buying funeral insurance.
For more information about funeral insurance go to http://www.cheapfuneralinsurance.co.za
by: Neville Parmley
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