what is a Funeral plan?

[jhon paul]

A Funeral plans allows you to pay funeral in advance so your dependents don't have to cover the cost themselves and they are allowed to pay the funeral using money from your estate as soon as you die. This funeral plans will not include everything you need for a funeral. But funeral plans may cover viewings of the deceased procession of a church service. Some of the other costs will not traditionally met by the funeral director are also included such as flowers.

• By using these funeral plans you may have the choice of paying the lump sum or monthly instalments.
• In addition to that some of the costs are not met fully and your family have to pay the rest.
• Many of the providers will only contribute the costs of cremation or burial
• This includes the cost of funeral director a coffin cremation or burial.

 

[Mandy96]

Speaking for myself, I don’t really think there is no such thing as funeral plan in insurance. This occurs in a whole life insurance, at the part where the insurer gets to provide compensation for the desist. I mean the insured client. So it’s really not a plan but rather a “thing” under a particular policy

 

[btaliat]

Just like the first commentator above me, most of these insurance policies are lumped together in most countries. For instance, whole life insurance will cover all the expenses of the dead including the funeral. But I think in India or may be Pakistan, their is memorial insurance policy that covers for his separately.

 

[Wisdom01]

I haven't seen anything as funeral plan before , instead of doing and following this method or more , I think the person could just choose to save the funeral money in the bank and the time he or she would need it , he or she would make use of it the way he or she wants it

 

[btaliat]

I haven't seen anything as funeral plan before , instead of doing and following this method or more , I think the person could just choose to save the funeral money in the bank and the time he or she would need it , he or she would make use of it the way he or she wants it

That is another angle to look at it. Instead of paying premium for funeral, why not save the money or even invest in a one things and use the returns to plan for funeral. There are some insurance thay are not that relevant in my own opinion. Why will someone e planning for his funeral service

 

[Wisdom01]

That is another angle to look at it. Instead of paying premium for funeral, why not save the money or even invest in a one things and use the returns to plan for funeral. There are some insurance thay are not that relevant in my own opinion. Why will someone e planning for his funeral service

Exactly saving option is better than some insurance policy , many people would just choose to waste their money , because even some people takes years before they die , because it's unpredictable and the person would just keep on paying the premium while the person is still alive , instead of saving the money and gaining interest