Funeral Insurance is not an eventful topic but some may want to consider as they age.
As a matter of fact, this pre-plan protection will be of great help for one who has to fog out expenses for the funeral, settling unpaid medical bill’s outstanding loan and even credit card dues.
Even having life insurance, bare in mind you may be underinsured. Inflation may have cut its value dramatically thus the insurance you bought several years ago may seem insufficient.
With the cost of funeral going towards an upward trend and with the current source of income today one may not be able to bear such funeral cost if death strikes the family. Paying for it at that time may mean dipping into the pockets of relatives and friends.
When death strikes your loved ones, major insurance payout may be made to the family, which they can use for the education of the upcoming generation. In actual fact not a cent need to be spent on funeral expenses. Thus, in this moment of grieving perhaps more effective choices should be made from the unnecessary price increase and inflation.
There are literally many options one can consider when making final arrangements. Unfortunately, most people wait for the 11th hour thus crippling themselves into a state of emergency and in such situations make hasty decisions under emotional pressure. It is unfair than to ask survivors to make such decisions at that point of time in their life.
A well managed or organized person would not have wanted to leave this burden on their loved ones. Thus, funeral planning is highly a personal decision. In doing so, please ask for help from your Bereavement Care Consultant.