Do I Need Funeral Insurance?

You might notice that there are several advertisements stating that you would need funeral insurance. If you have gone through any of these ads, you might feel that is the only way you can protect your interests financially. However, is this necessary? Do you really need to get funeral insurance? Here we look at what is involved and whether you really require it

What Is Covered In Funeral Insurance?

When you opt for funeral insurance, you can choose how much cover you want and pay a fortnightly or monthly premium. After your death, your beneficiary will get a lump sum amount to pay for the funeral services.  Funeral insurance can prove to be expensive over the long-term. So depending on what your age is, you might end up paying a massive amount in premium compared to the funeral insurance cover.  Here are some aspects to keep in view

Advantages of Funeral insurance 

Disadvantages of Funeral Insurance

Making the Right Decision

If you are wondering whether funeral insurance is a good option for you, you would have to consider these advantages and disadvantages and discuss your options with family members. You can also find out what prepaid funerals offer as well as what high interest savings accounts and funeral bonds would be a better option financially.

Shop around a bit and compare quotes from multiple companies before making your final decision. You can also check with funeral homes about their pre-paid funeral services. Discuss these options with our experienced funeral director at Paul Lahoods Funerals at 02 9564 0223. Feel free to send us your queries via this contact us form.