Why buy funeral insurance?

There’s one thing in life which is certain: paying your taxes, and dying. With that in mind, you would think that everyone in Australia would have funeral insurance, or a funeral plan, right? In actual fact it’s the reverse, many of us don’t like thinking about death, it’s a part of life that is hard to face, and as a result many of us don’t have funeral insurance or funeral plans.

Lack of funeral insurance in Australia
Like an Australian emu sticking its head in the sand, we tend to avoid the issue. As a result, very few of us actually have funeral insurance. Many Australians have not made any funeral plans to pay for their own funeral. Instead, this burden is loaded onto loved ones who then must suffer the financial stress of having to pay for your funeral.

Make your own funeral insurance plans
Do you have a particular funeral service in mind? Funeral services can range from the hundreds to thousands of dollars, so having money readily available can help pay for what you have requested in your funeral plan. Funeral insurance provides certainty that everything will be taken care of when you are no longer there.

Buy funeral insurance in Australia
Funeral insurance is available from a select number of life insurance companies in Australia. These life insurance companies often have a life insurance product suitable for many people. However if you have found it difficult to obtain life insurance due to your age of health problems, buying funeral insurance or funeral plans may be a suitable alternative. A funeral insurance benefit payment is usually paid as a lump sum.

Buy and compare funeral insurance online
We are fortunate in Australia in having the option to compare funeral insurance, and buy funeral insurance online. It gives you the flexibility to look for funeral insurance plans and funeral insurance in your own time, and find the most suitable one for you. If you are unsure as to what funeral insurance plan to buy, contact a financial adviser. They can offer valuable advice and help determine how much funeral insurance you need to buy.