The burial insurance is a type of insurance that is responsible for covering all costs and paperwork related to the death of a person. In this way, death insurance tries to help and give support to the family members of the insured by simplifying all the bureaucratic procedures related to the burial.
Today, the contracting of death insurance is a very common practice. For this reason, it is of special importance to know all the aspects related to this type of insurance and that the insured acquires the insurance of deaths that he considers more opportune or adapts better to his needs and personal situation.
Death insurance: aspects to consider when hiring
At the time of contracting a death insurance, we must take into account the different costs associated with the policy, the coverage that can offer us, the types of death insurance that there are and other recommendations that will help us when choosing Death insurance.
The first step for the person who wants to hire him is to decide if he is going to hire him individually or family. Individually he will cover the expenses of his burial, however many families hire him jointly so that if any member of the family dies, the deceased will be insured.
What is the cost of death insurance?
When a person dies, family members must face a series of costs related to the funeral of the deceased person. Death insurance allows that when a person hires this type of insurance and dies, different burial related expenses may be covered by the policy and thus prevent family members from having to disburse certain amounts of money to pay for expenses related to death.
Normally, the expenses of a funeral are usually between $7,000 and $10,000 although they can vary depending on some characteristics of the insured. When a death insurance is contracted, the cost of the premium will depend on:
The place of residence of the insured person: depending on the city to which it belongs, it may have a higher or lower cost, since the insurance company takes into account the risk of death of the insured. It is also taken into account if the insured lives in a town or in a city.
The additions on the day of the funeral: the insured may want his or her funeral to be simpler or, however, more complex by having more services covered by the insurer.
What coverage is in death insurance?
Regarding death insurance coverage, we can say that insurance companies can offer what we call basic or optional coverage to the insured person. These coverages will depend on the amount of money or premium the person pays to purchase the insurance. For example, death insurance that only contains basic coverage will be cheaper than one that also includes other additional coverage.
Basic coverage of death insurance
The insurance company will bear the costs related to the following basic coverage specified in the policy:
- The services incineration or burial in niche or grave and headstone
- The funeral services
- The religious services related to Mass and other acts of this nature
- The free choice of the burial place and cemetery where the deceased will be deposited
- The organization, coordination and management of the death service
- The legal assistance service
- The processing of documents after the death of the insured
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