If you have some common questions in mind about funeral insurance just like ten other people around you, then this frequently asked questions section is very helpful for you. Let’s dig into few important questions.
What Does Funeral Insurance Cover?
In general, Funeral Insurance is also known as the Final Expense Insurance policy alias pre-need insurance. It will take care of your funeral expenditure, without imposing a massive burden on your dear ones. Funeral insurance schemes are designed to cover a wide range of expenses including cremation, casket, embalming, headstone, flowering, hearse, director fees and other costs. Based on the policy you choose, the kind of features you receive will differ drastically. If you decide to purchase a pre need funeral policy, then you must consult with the funeral home director and discuss about the arrangement.
How Much Funeral Insurance Do I Need?
Before you opt for a funeral insurance policy, make sure you know how much you require. The exact amount depends on the kind of funeral you wish to host. Funerals are never cheap and the cost is escalating day by day. It costs around $9k to $10k on average for a funeral in the USA today. However, that doesn’t mean you should spend your fortune. There are different types of funeral arrangements available and depending on your requirement you will buy one. For instance, if you want more floral arrangement and bear full accommodation and transportation expenses of close friends who are supposed to join the funeral, then you might need to add an extra $5k with the final coverage amount. So, you should figure out where you want to spend your money and depending on all these factors, select an estimated funeral insurance coverage.
What Documents to Submit in Order to Apply for Funeral Insurance?
In order to apply for Funeral Insurance, you require the following documents:
- An approved and signed medical certification that dictates the cause of death.
- A signed birth certificate.
- Any civil or marriage partnership certificates.
- NHS medical certificate or NHS number.
These documents should provide the deceased’s surname, full name, place of birth, marital status, occupation and date of birth. Other essential documents include details about the deceased’s religion and donor card. One should have all these documents to file and use the insurance benefits.
Does Funeral Insurance Premium Change with Time?
The premium of purchased funeral insurance does not change with time. This is why you should handpick the right kind of funeral insurance policy with affordable rate. On certain occasions, you may not receive the full benefits, for instance, if you die before the policy matures according to the insurance provider. You must read the full agreement form and understand each clause completely before signing up.
Is this Possible to Get Affordable Funeral Insurance with Health Issues?
The best part about funeral insurance would be the ability to obtain it with health issues too. Unlike conventional life insurance schemes, you are not expected to undergo any medical examinations while applying for the policy. Regardless of your wellness, you will qualify for the scheme. So, if you have health issues, fear not! Funeral insurance will lend you a hand of help. However, you must answer questions regarding smoking, gender, tobacco usage, weight, occupation, habits and alcohol usage. Based on your answers, the overall duration of your insurance application will vary so does the premium.