Funeral Insurance Policy
Final Expense Insurance Plans
Ensure your final arrangements are taken care of with a funeral insurance policy
If you need coverage, we can provide you with helpful information and great rates. HealthRates.ca helps you find competitive rates for your final expense insurance plan.
When you leave this world, the last thing you would want to do is leave your surviving family members with bills and outstanding debts, including those associated with your funeral. It is better to ensure these costs are paid for beforehand.
With this plan, you can ensure your funeral and its associated costs are covered in advance to ease your family’s burden before it becomes an issue.
We have prepared answers to some frequently asked questions to help you understand more about this insurance product. Read on to learn more.
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What is funeral insurance?
Sometimes referred to as Final Expense Policy or Burial Insurance, funeral insurance provides coverage that helps pay for your funeral costs and other final arrangements. Some people purchase it to ensure their funeral and all related costs are handled in advance, so they do not become an issue and added burden for their families or beneficiaries.
Parents sometimes purchase funeral insurance to provide their children with money to cover funeral costs. This is especially helpful if your estate is unable to cover the costs of your final arrangements.
Why should I get funeral insurance?
As previously mentioned, funeral insurance ensures your funeral and final expenses are paid for ahead of time so your passing will not cause any issues with your surviving relatives or beneficiaries. It is also a form of whole life insurance, meaning that it does not expire and will leave your family with a guaranteed lump sum payout to cover relevant costs. It is also relatively easy to qualify for funeral insurance; you simply complete a questionnaire. Unlike some forms of life insurance, there is no comprehensive health exam involved.
Why should I not get funeral insurance?
Although funeral insurance can be beneficial to your family, you must first determine whether it is a worthwhile purchase. Before you make your decision, compare the cost of a funeral service with the cost of a funeral insurance coverage. If the cost of the policy outweighs the cost of the funeral, it might be better to avoid purchasing funeral insurance. This is especially important if you are living on a fixed income.
There are other reasons why some people choose not to purchase funeral insurance. For example, the cost of the premium may end up being greater than the death benefit, and in some cases, the value of the premium may gradually increase as you age.
Where can I get funeral insurance?
The funeral insurance policies described above are all available from major insurance providers. If you’re looking for funeral insurance coverage now, HealthRates.ca allows you to review multiple insurance products and compare rates from top insurers in Canada.
Click here to process your quick funeral insurance quotes.
What are the benefits of final expense insurance?
Funeral Insurance is about more than just peace of mind. You protect your family from the financial strain of covering expensive funeral costs.
- Relief from expensive funeral costs
- Protect your family from financial hardship
- Funds allocated specifically for burial or cremation costs
- Find peace of mind by being prepared for the future
- Save thousands of dollars or more
How much is funeral costs insurance plans?
Like other insurance products, the cost of funeral insurance varies from one provider to the next. The cost also varies based on your age. On average, the younger you are when you first purchase your policy, the less your premium will be.
Get Informed, Get Insured
There are many funeral insurance policies and insurers to choose from in today’s market, and our goal is to help make your decision easier. We have partnerships to several major insurance providers and would be glad to discuss your final expense policy options with you. For more information, please contact us today.