Who has the best funeral insurance is a relative question because it depends on a couple of factors.
It depends on who you are insuring, how old they are and their current health status. Some people ask for funeral insurance, but after asking questions, all the wanted was a small amount of life cover. Funeral insurance is a specific type of protection with limitations, and my advice is, if you can get Life Cover, then I think you are better off.
So what’s the difference?
The difference between the best funeral insurance and life cover is that in most cases funeral insurance will cover the person insurance if they become deceased by sickness after two years. Here is the primary difference to help you understand what the limitations are for funeral insurance.
As soon as your funeral insurance is in place you are covered for death resulting from an accident. For any other causes, during the first two years of the policy, you will receive a full refund of any premiums paid. After that, you covered by your selected cover amount whatever the cause of death.
Notice that the person insured is only covered by accident for the first two years, then full cover after that. The upside is that if the person insured dies by sickness in the first two years, the premiums you paid are refunded to you, but the insured amount is not paid. Unlike full Life Insurance where the claim would be paid as long as the policy did not have any exclusions or special terms when it was issued.
Funeral insurance also has limitations on the amount of cover you can have, for example, the maximum could be $50,000 depending on the insurer, and full Life Insurance does not have the same limit restrictions.
What’s the best funeral insurance for me?
If you are in good health, then I would suggest full Life Cover that is medically assessed by the insurer so you can get the best possible coverage in all circumstances. If you have health complications that stops you from getting full Life Cover, then Funeral Insurance would be the next best option.
Who has the best funeral insurance?
That’s a great question. We have a Funeral Insurance and Life Insurance companies to choose from which means more options for you, and of course great advice, we don’t just sell one product over the counter. If you’re looking for the best funeral insurance, then contact us today.