As if the thought of leaving the world is not immensely troubling on its own, to think about what is going to happen to your loved ones after your demise just adds up to that stress. Buying a funeral insurance plan can do a lot in terms of taking down some of that stress that often comes when we think about finally leaving this world.
However, there are so many things that need to be considered before you invest in a good funeral insurance plan that the process can become of selecting a good insurance plan can become quite challenging. While more technical questions like what are stepped and level premiums can be put on hold for later, there are certain highly important basic questions you need to ask the funeral insurance provider. These questions can work as good beginning points for you to work your way through selecting the right funeral insurance plan for yourself.
1: Question the Value of the Funeral Insurance Plan:
Most first time insurance buyers make the mistake of buying a cheaper plan instead of choosing one with more value. While the monthly premium that you will be ultimately required to pay is of course important and you have to make sure you can afford it, but the value of the funeral insurance plan should also be given its due consideration.
2: Question the Coverage that You Will be Provided:
You do not want to buy a plan which has you either under insured or even over insured. You need to invest in a funeral insurance plan which gives you the kind of coverage based on your needs. And what exactly will a particular funeral insurance plan/policy will cover and how much would that coverage be, would it be enough for you and your family are just a few things regarding the plan’s coverage you must ask about.
3: Questions Regarding the Premium of the Funeral Insurance Plan:
Different insurance covers come with different premium options. There are few where the premium is kept constant and others where the premium is increased annually. The payout that you will get depends on the type of premium you choose.
4: Questions Regarding the Claims:
While selecting the right funeral insurance plan for yourself, make sure to ask the time it would take the insurance providers to have the payout process taken care of. Most insurance providers provide their clients the option to payout within maximum 2 days.
If the time is more than 48 hours, it is best to consider another plan or another insurance provider.
5: Questions Regarding the Number of People Insured:
Does the funeral insurance plan which interests you, covers you along with your family members? And if it does cover your family members, be specific to ask them how many of your family members can be covered under that funeral insurance plan.
The answers to these questions will help you decide on a funeral insurance plan.