Do You Know the Basics of Family Funeral Insurance?
From time to time, we do our best to write informative articles related to family funeral cover. When you apply for a family funeral plan quote, there are a lot of things you need to consider. We try and make as much content available as possible. This gives our customers the opportunity to read up on all the available options, etc.
Important Factors to Consider
Some of the most important factors, when you apply for a family funeral cover quote, is to make sure you understand what your individual needs are. Do you need a family funeral plan that will pay cash only, or do you need a policy that will pay cash and offer benefits. There is no right or wrong when you select a type of funeral insurance plan, at the end of the day it all depends on what you and your family need.
Cash Only Family Plan
Cash only funeral plans will focus on the cash payout. This type of policy will usually have additional benefits; however, the main aim will be a cash payout. The beneficiary will be in full control of the claimable amount. The beneficiary can decide what providers will offer what service. This type of policy will usually be very effective if the beneficiary is experienced and has an idea of what is required when you arrange a burial.
Cash & Funeral Services Plan
Similar to the cash only option, the beneficiary will receive a cash lump sum. At this point, the beneficiary can decide to make use of the provider to arrange the funeral. All services selected will be deducted from the payout. All remaining funds will still be paid to the beneficiary. This option is usually most effective when you want a hassle free solution. With this option, there will be a lot of discounts and free services from the provider.
Family Funeral Policy Premiums
Additionally, you need to know who you want to cover and for how much. When you select apply for your family funeral cover quote, you will be able to amend the plan until you are satisfied with the final premium. Each member included will be quoted separately, this means you can increase or decrease an individual depending on your requirements.
Premiums will be determined using a lot of different factors, most notably the age, cover level & relationship with the person. For example, your parent will cost slightly more the older they are. You direct family will be the most affordable member to cover. Some providers charge for only one child, the rest under 21 will be cover at no additional costs.
Family Funeral Plan Beneficiary
When you apply for a family funeral cover quote, you must make sure that you have a trusted beneficiary. Your beneficiary will be the person responsible for handling the claim if you pass away. If a family member other than the policy holder passes away, the main member can be the beneficiary. Your beneficiary will be responsible to file the claim & arranging the funeral. They beneficiary will usually be a parent, or another family member you can trust. When you apply for your family funeral plan, you can nominate your beneficiary. All we need is a name and ID number. Always make sure you notify your beneficiary of your family funeral policy, this way they are aware of the policy and can make a claim when needed.
Additional Benefits
Most trusted family funeral plan providers will have additional benefits. Some will be optional; some will be included in the plan automatically. Providers use additional benefits to make their plan more appealing to customers. Some benefits you can expect to see will be accidental death cover, education benefits, grocery benefits, etc.
Optional benefits can increase the comprehensiveness of your policy. You are in full control of the optional benefits you decide to use.
For more useful tips and articles, feel free to browse our site. We suggest that all our customers familiarise themselves with the options before applying for a family funeral plan. If you have any questions, feel free to ask one of our competent consultants.