Insurance Blog

A real-life example of how funeral insurance can so beneficial to you and your family

18 September 2017 8:44pm

Okay. let me use myself as the test case. And yes I do already have funeral insurance. I am 55 years old, male, separated (and single) and a non smoker. I am in good health and particularly on my fathers side the men have enjoyed long healthy lives. I hope to be around for a while but who really knows? My mother died at age 43 and my ex wife from a short illness this year aged 54.

So why funeral insurance?. Although I have some money in the bank no-one but myself has access to it so if I die it will be tied up in probate, will settlement etc and may not be available to my adult children for at least 6 months. My kids, collectively, would not have enough money in their banks to pay even half my funeral costs.

My family would have to beg or borrow to pay for the funeral, that is something I would never forgive myself for. I could open up a bank account in a joint name with one of my kids so they could immediately access but I prefer to leave all my money aside so I manage as I need to in accordance with my lifestyle.

So, paying a reasonable monthly premium to an insurance company gives me peace of mind that my kids will never have to worry about how to pay to bury me. They can just go through the process but at least have no financial burdens weighing on their minds at the same time.

The number one reason people give us for buying funeral insurance is so a spouse or other family is not burdened with the, often, sudden costs.

Paul Woollams, Funeral Insurance Helpline