Why Do I Need Funeral Expense Insurance?
The average cost of funerals in Canada is between $5,000 and $10,000. Funeral Expense Insurance covers these costs. It will also give you the peace of mind that your loved ones will not face a financial burden in your absence. The application process is simple. You only have to fill out a questionnaire, there is no need for a medical examination.
Funeral Expense Insurance is particularly valuable if your estate cannot cover your final arrangements.
How does Funeral Expense insurance work?
Rather than have your loved ones pay out of pocket for your funeral after your passing, you can get a significant portion of the expenses covered with Funeral Insurance.
With funeral expense insurance, you pay a regular premium in order to maintain coverage until you pass away. When you pass, your insurance provider will either pay out a stipend to your family to cover funeral costs or compensate them for money spent on funeral costs. This could save your family thousands of dollars.
Will my Life Insurance policy cover my Final Expenses?
Depending on your Life Insurance policy, funeral costs may or may not be covered. Often, Life Insurance policies mostly cover loss of income expenses but not the extra costs that come with a funeral. Carefully review your existing coverage before deciding whether you need Funeral Expense Insurance.
How is the cost of Funeral Expense Insurance calculated?
The cost of Funeral Expense Insurance is mostly impacted by the amount of coverage you want. Age and gender also play a large role in determining your premiums. Women pay lower premiums compared to men. Also the older you are, the higher the premium.
What does Funeral Expense insurance cover?
With Funeral Expense insurance, you’re preparing for your future and the future of your family. Here’s what may be covered under your policy:
- Cremation
- Caskets
- Burial
- Ceremony
- Cemetery fees
- Transport
- Laboratory
- Pall bearers
- Flowers
With the right policy, a significant portion of the costs associated with your funeral or burial may be covered by your provider. Save money by signing up for funeral insurance today.
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How to Save Money on Funeral Expense Insurance?
We want to help you save your money. The best way to save money on Funeral Expense Insurance is to compare rates from multiple providers. This can be extremely time consuming. Luckily, Alliance Income Services Corp. does all the hard work for you! By simply requesting a quote online through our website, we check what rates you can get from every major Canadian insurer.
Smoker Status
Cigarette smokers can pay up to 100% more for the same level of coverage as a non-smoker. To gain a considerable reduction on your premium payments, consider quitting smoking. It will save you money and benefit your health.
Do You Have Life Insurance?
If your Life Insurance coverage is comprehensive, you might not need Funeral Expense Insurance. Carefully review your existing coverage before deciding whether you need Funeral Expense Insurance.
Have A Plan
Check the average burial or cremation prices in your area to get an idea of the cost of your own funeral. Buy only the amount of coverage that you need.
Purchase Your Policy Early
Your age bracket has a significant impact on your premiums. The younger you are, the more we suggest purchasing a policy. Avoid higher rates by purchasing Funeral Expense Insurance before your next birthday.
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