Many people are uncomfortable talking about death. It is part of lie. And eventually everyone will encounter it at some stage. It is a sombre thought, however it is essential to prepare for death. One way is to take out a funeral policy to cover the funeral.
When comparing rates of policies, do some research on the company you are dealing with. Use the internet, ask friends and colleagues for some guidance.
When calculating the amount of cover, take inflation into consideration. Costs of services and items rise over time. Make sure your policy covers this inflation over time.
Estimate your final expenses for the burial and funeral. Take medical bills into consideration, funeral services, and other unforeseen expenses.
Also consider a life policy to cover other expenses. This will be for unpaid debt, or unpaid bills. If you have a family take them also into consideration.
Once you know the cover you need, start looking at the various options available to you. Look around in the market for a funeral policy and or life policy that will meet your needs.
You should start right now as the cost increases. It is good practice to obtain a price range for insurance premiums and what is covered.
For guidance on funeral policy give Riskfin a call.