For many of us, funeral insurance is not a high priority. After all, most of us have more pressing monthly commitments such as groceries, school fees, rent and home loans. What’s more, other types of insurance such as car and household insurance seem to provide a more immediate benefit than paying for a funeral.
A funeral is the best way to say goodbye
Should you lose a loved one, saying goodbye in a dignified way can be a real source of comfort while you’re grieving. If you have a funeral plan in place, you’ll be given a lump sum that can help you organise a funeral ceremony. Certain funeral insurance policies also give you other perks such as giving you access to a car to help you transport guests to and from the funeral.
A funeral policy is an effective way of ensuring that your family and those who depend on you don’t have to take on an unreasonable financial burden to pay for a funeral ceremony.
Immediate cash on hand
Even if you have a good amount of money in your name when you pass away, the reality of legal proceedings means that your estate may be tied up for months or even years after the event. This means that your family won’t be able to access cash from your estate to pay for your funeral should you pass away, which can put them under even more financial strain during such a traumatic time. Having a funeral plan means you can plan the funeral and pay for it immediately without any financial strain.
Other pressing expenses
Especially if you’re a primary breadwinner and you pass away, there may not be money available to cover immediate expenses such as groceries, school fees and rent. Many funeral plans offer a monthly provider that gives you a monthly income for a set period after your death to cover these. Having this ongoing monthly income after a death ensures the longer-term financial well-being of those you love.
Everyone is covered
Besides funeral cover for yourself, many funeral policies let you cover other members of your household as well - even your parents and parents-in-law. This means that should any one of them die and the rest of the family relies on their income, there will be money immediately available for the funeral, as well as ongoing expenses that they previously covered.
Having adequate funeral cover removes some of the stress during this difficult time and allows you to focus on supporting your loved ones. Hollard provides flexible, affordable funeral insurance cover for you and your family. Read more about our funeral cover, or get a funeral insurance quote now.
The Hollard Insurance Company. Ltd (Reg No 1952/003004/06) is an authorised Financial Services Provider.
