Life insurance Does Life Insurance Cover Funeral Costs?

[kayode10]

Life insurance is one of the beneficial insurances someone can do to secure one's life and that of the family members.

Life insurance usually last the life time of the person being insured and the premium need to be paid regularly.

Life insurance makes the life easy to someone's love ones after death. The insurance company will pay the family member the entire compensation once the necessary steps has been taken by the insurance company.

The insurance company will do some investigation to determine the death of the clients before they could pay the compensation.

Some finding may take longer time depending on how complicated the death of the clients.

So I want to ask that is the insurance company they will pay the cost of funeral service?

 

[btaliat]

Life insurance is of various types. There is one that is called term life insurance policy. In this, the ml premium paid to insurance companies will be given at a particular time. Then we have another one that is called whole life term which will cover the expenses of the bereaved after his death

 

[Jamoflondon]

Yes of course and that’s if the client actually opted for whole life insurance which covers the regular and usual expenses after the death of the insured. This includes the funeral costs for the desist. In fact this happens to be the most important part of the compensation the insurance company should provide

 

[Chibson]

From my understanding life insurance is all about you insuring your properties for your relatives or children as the case may be in case you are no more. when you do this it will be easy for them to not lose your properties and other belongings. There are people that have polygamous family and they always share properties.

 

[Phabbyfundz]

As I would to make my views stated on the matter I would also like to say that the terms of every insurance plan or policy, or the benefits you stand to gain or want the insurance company is willing to cover for you should be clearly stated in the contract memorandum so as to avoid any later frustration. And always try to know what the insurance company are willing to cover for before purchasing any insurance plan.

 

[Alexandoy]

From what I know about life insurance it only covers the life of the subject that is specified in the insurance policy. For the cost of the funeral it is called a memorial plan. We have that plan for me and my wife. That will cover the funeral expenses but does not include the tomb. You have to buy a memorial lot for the interment.

 

[Mandy96]

It could only cover funeral costs if the client happens to buy a whole life insurance policy. When people purchase it they see it like the person is wishing him or herself a bad wish. If you know you like to opt for this then you should learn to find more about it

 

[btaliat]

From what I know about life insurance it only covers the life of the subject that is specified in the insurance policy. For the cost of the funeral it is called a memorial plan. We have that plan for me and my wife. That will cover the funeral expenses but does not include the tomb. You have to buy a memorial lot for the interment.

That's why I do tell people that insurance policy differ from countries to countries and even from insurance company to insurance company. In some of the insurance company that I know they do not have separate name for this policy it is under whole life term insurance policy and not memorial insurance policy.