Why It Is A Good Idea To Combine Funeral Cover And Life Cover
Death is not something a lot of folks care to think about as it is a reminder of their mortal fragility. That being said, were they to contemplate it there is most likely not an individual still living who would not want to be buried with pride. Unfortunately, memorials are often expensive and it could be hard for loved ones already burdened by tremendous grief to be able to find the money to pay for one. This is when funeral and life insurance plans much like the Clientele Lasting Dignity Plan can help.
However, the distinction between the Clientele Lasting Dignity Plan and some other types of funeral policy is that it gives life cover as well as funeral benefits.
A funeral plan is a type of insurance cover designed especially for funeral expenses. The way it works is that a policy holder will pay the premium each month so that a lump sum payment may be claimed in the event of their passing away. What’s more, funeral policies generally pay out quickly which is significant since funerals normally occur within a 7 days of death and inheritance money and life insurance might be tied up by estate proceedings and thus cannot be utilized to cover a burial.
But precisely why is it actually even necessary to take out a burial plan? You’ll find folks who’ll say that you could just as easily save the cash as put it into a burial plan, however who really knows what will happen further down the road? There might be another economic downturn, for example, and you could end up being forced to utilize the cash you’d set aside for your burial costs on bills. On the other hand, you could suffer from a life threatening and prolonged illness before passing away which might wipe out your savings.
If you’re still not persuaded that taking out a burial plan in conjunction with your life insurance is as good as saving the money you’d spend on premiums, look at it like this: if you had to choose between skimming from the children’s college fund and utilizing cash set aside for a funeral that potentially might not take place for quite some time, which money would you use? The point is no one can really say for certain exactly what the condition of their finances is going to be like when they pass away, which is precisely why insurance plans like the Clientele Lasting Dignity Plan exist.
The fundamental purpose of insurance coverage of all kinds is to make provision for the unexpected; the ‘what ifs’. Yes, insurance coverage exists to supply a lump sum when a claim is made to cover costs which we might not have got the cash available for at that time but they are at the same time about reassurance. Furthermore, the peace of mind that comes from knowing that we are protected in case of the unexpected transpiring is really our only defence against an unknown future. Contemporary existence is stressful enough as it is without needing to worry about the future…