Even if the subject of death is not easy to discuss during one’s lifetime, more and more French people want to anticipate the financing and organization of their funeral both to relieve their family, but also to have a certain peace of mind. of spirit. Many people choose to turn to a funeral insurance to ensure that their wishes will be respected and that their family will not have to assume the costs associated with this farewell ceremony.
Funeral insurance to anticipate financing your farewells
L’funeral insurance is a form of foresight which guarantees the financing of funerals in the event of death. It takes the form of signing a contract with an insurer, which undertakes to pay capital to the beneficiary (often their relatives) in order to cover all or part of the costs linked to the event.
L’insurance to anticipate your funeral is distinguished from other insurance contracts by its specific purpose: it only aims to compensate the cost of the funeral and not any loss of income or other expenses suffered by the survivors.
Various optional services
In addition to the financial aspect, some funeral insurance can also offer support and support services. The services offered are generally quite varied:
- advice and information on administrative procedures,
- psychological assistance,
- facilitation of contacts with different funeral professionals,
- provision of an online platform to centralize tributes, etc.
Funeral insurance: between peace of mind and financial gain
By taking out funeral insurance, you can plan the cost of your farewell ceremony without impacting the finances of your loved ones. This can be very useful in certain situations, for example if you are concerned that your personal savings are not enough or that the family does not have the financial means to meet the cost of the funeral.
- Relieve loved ones: With a funeral insurance contract, compensation is paid directly to the beneficiary (or to companies in the funeral sector) who are responsible for carrying out the various services. This formula allows families to not have to manage the logistical and financial aspects of the funeral, which gives them a little more space to grieve.
- Avoid conflict: By clearly expressing your wishes regarding the conduct of your funeral, you reduce the risk of disagreements between members of your entourage. A significant guarantee for maintaining peace within the family!
- Guarantee respect for their wishes: Even if you have already clearly expressed your wishes to your loved ones, it is possible that these are not respected for reasons of disorganization or lack of information. By choosing funeral insurance, you can ensure that your wishes will be respected to the letter.
How does funeral insurance work?
To take out funeral insurance, you must first contact an insurer who offers this type of contract. This process can be undertaken with a company specializing in insurance or with a funeral builder.
Determine the amount and terms of the death benefit
When subscribing to the contract, you will be required to determine the amount of the death benefit : this corresponds to the costs associated with your funeral, for example the price of the coffin, cremation or burial, the fees of the master of ceremonies, etc. You will therefore need to evaluate these costs precisely so as not to underestimate or overestimate this amount.
You will also have to choose the terms of payment of this capital:
- The check or card: with this method of payment, the beneficiary receives the death benefit directly in order to pay for funeral-related expenses;
- The service in kind: in this formula, funeral services are covered by a specific operator, generally chosen by the subscriber when signing the contract.
Choose the main funeral services
When estimating the death benefit, you will also need to specify your wishes for the different stages of your funeral: type of ceremony (religious, civil, intimate, etc.), choice of flowers and ornaments, method of scattering the ashes or location. burial, etc.
Some funeral insurance contracts also allow you to select certain optional services: online tributes, creation of a virtual memory space, organization of a reception after the funeral, etc.
Pay premiums
Once your contract is concluded, all you have to do is pay the Insurance premium until maturity. These can be paid in the form of periodic contributions (monthly, quarterly, annual) or in the form of a single capital at the start of the subscription.
The amount of these bonuses will vary according to several criteria:
- The age of the subscriber: the younger you subscribe to funeral insurance, the lower the premiums will be;
- The result of the medical assessment: some companies include this element to determine the level of risk and thus adjust the price of premiums;
- The guarantee setting process: in certain cases, it is possible to benefit from preferential pricing if you opt for an “all risks” guarantee including other insurance plans.
What is the ideal age to take out funeral insurance?
On average, people opt for a death insurance policy at the age of 62. However, you can take out a funeral policy at any age. You should know that the later you subscribe, the higher the amount of your payments will be.
Good to know: after a certain age, insurers can limit the choice of payment type. In general, an age limit of 80 or even 85 years is also set for taking out funeral insurance.
Funeral insurance contract or death insurance?
Discussing the prospect of your own death with your family is never an easy conversation. However, it is crucial to consider the impact of our loss on our loved ones, especially from a financial perspective. The funeral insurance contract and death insurance are designed to provide material support to the family, whether to cover funeral costs or to help with daily life after our departure.
Although different, these two contracts are complementary. The major difference between them is how and when the capital is paid. The funeral insurance contract is used exclusively to pay for funeral services, while death insurance provides financial protection to the family in the form of an annuity or capital, paid in the short or long term to the surviving spouse and children.
2023-09-27 19:27:40
#Funeral #insurance #compulsory #France
