Funeral insurance is important but death is not a pleasant topic. People often find it unpleasant to talk or think about death. Yet everyone will have to deal with it sooner or later. If you pass away, your next of kin are responsible for arranging the funeral. Not an easy task. Therefore, you can help them by taking good measures in advance, for example in the form of funeral insurance. With good insurance, you will leave your loved ones without financial worries. At Alpina.nl we are happy to help you find the right insurance, so that you don't have to worry about this any further and your next of kin won't be faced with any nasty financial surprises. You can close it easily with us.
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Why purchase funeral expense insurance?
You don't actually take out funeral insurance for yourself, but for your next of kin. The death of a loved one is a difficult event. During this sad period, your next of kin must also make funeral arrangements. Of course, you don't want your next of kin to have to bear the cost of your funeral or saddle them with financial worries. While the cost of a funeral is high, insurance does not have to be. The earlier in your life you purchase insurance, the lower the premium. Once you purchase insurance, you won't have to worry about it for the rest of your life. You can then go on living carefree knowing that everything is well taken care of.
Is it wise to purchase insurance?
Funeral insurance is not compulsory insurance. Therefore, you choose whether or not to take out such insurance. In a number of situations, taking out insurance is certainly wise. The average cost of a funeral is between €6,500 and €11,000. Do you have little or no savings and no funeral insurance? Then it will be difficult for your next of kin to organize a funeral. You are saddling them with financial worries. With insurance, you know for sure that the costs of your funeral are covered and that your loved ones will not be confronted with unpleasant surprises. Do you have sufficient savings? Then you can also opt for funeral insurance. When savings rates are low, it is often more favorable to take out funeral insurance. It will earn you more than a savings account.
What do you look for when buying funeral insurance?
When taking out funeral insurance, there are several things to consider. By taking out a good insurance policy now, you ensure that your next of kin do not have to worry (financially) about organizing a dignified farewell.
Your funeral wishes
No one likes to talk about death, but it is important to discuss your wishes for a funeral in advance. After all, these are also important when taking out funeral insurance. Do you want a funeral or a cremation? Do you want the farewell to take place in a funeral home or crematorium or in a church? Do you want your family to carry the casket? Do you want funeral transportation? These issues all come into play when choosing funeral insurance. Thinking about these in advance will give you a good indication of the cost and you will know the best amount to insure.
Type of insurance
When taking out insurance, you have a choice between endowment insurance and in-kind insurance. Below we discuss the types of funeral insurance in more detail.
Duration of insurance
Another important factor to watch out for is the term of the funeral insurance policy. The term of an insurance policy indicates until when you have to pay premiums. There are funeral insurance policies are a term of 10 years, 20 years, 30 years or until a certain age. When the term of your funeral insurance ends, it means you have paid enough premium to the insurer to pay for your funeral.
Types of funeral insurance
When purchasing funeral insurance, you can choose from several types of insurance. You can choose between capital insurance and in-kind insurance. A combination of both policies is also possible with some insurers.
With in-kind funeral insurance, you are not insuring an amount, but a package of products and services. Your next of kin can choose from a number of options offered by the insurer. The packages can range from a simple funeral to an elaborate funeral with, for example, a memorial service.
With capital funeral insurance you insure a pre-agreed amount. This amount will be paid to your next of kin upon your death. With that amount, your next of kin can plan your funeral according to your wishes.
Increasingly, insurers are also offering a combination of in-kind insurance and endowment insurance. With combination funeral insurance, just as with in-kind insurance, a standard package is included for the funeral. This package is supplemented by a sum of money that can be spent as you wish. It varies from one insurer to another how high this amount is. Often, as the policyholder, you may choose how high this amount is.
Frequently asked questions about funeral insurance
What does funeral insurance cost?
The cost of funeral insurance depends on a number of factors:
- Your age
- The type of funeral insurance you choose
- The term of the insurance
- Your health
From what age do you own funeral insurance?
Up to the age of 18, children can be co-insured on their parents' funeral insurance. From the moment you turn 18, you can take out your own funeral insurance.
Nowadays, more and more younger students are also taking out funeral insurance.
How long does it take to arrange funeral insurance?
Arranging funeral insurance takes just a few minutes on Alpina\.nl. However, it is important to think about your funeral wishes beforehand. This way, you can easily calculate an indication of the amount you need to insure to cover your funeral.
How does funeral insurance work?
With a funeral insurance policy, you are insured against the cost of your funeral. You pay an amount of premium each month for your funeral insurance policy. When you die, the amount of money or package is released (depending on the type of funeral insurance) or to pay for your funeral from.
No funeral insurance; now what?
Don't have funeral insurance? Then your next of kin will have to pay for the funeral. You may have saved some money to pay for your funeral. In that case, your next of kin can use this money to cover the funeral costs. However, if you have little or no savings, it is wise to consider funeral insurance. That way, your next of kin won't have to worry about high funeral costs.
When is the best time to purchase funeral insurance?
It pays to purchase funeral insurance at a young age. In fact, funeral insurance is a lot more affordable when you are young. The premium goes up when you are older, making it more expensive to purchase funeral insurance at age 50 than when you are 20. So it is best to buy funeral insurance early.
Is the benefit of a funeral insurance policy free to spend?
From the moment you die, the insurer with whom you took out funeral insurance pays out the accrued, insured amount to your loved ones to finance your funeral. Contrary to popular belief, however, that amount cannot be freely used.
This means that your next of kin cannot use the money for just about anything, such as personal purchases. After all, this is not an inheritance, but a sum of money intended solely to finance the funeral itself.
How is funeral insurance premium determined?
Determining the premium for funeral insurance is simple in itself. A few factors come into play here, including the amount insured itself, the insurer you choose and more. This overview will help you clarify those in advance.
What is the difference between term life insurance and funeral insurance?
Two types of insurance that are often confused are funeral insurance and term life insurance. What exactly do both involve and in what ways do they differ? Read more below so you can make the right choice for your situation, budget and personal preferences.
Is funeral insurance mandatory?
Funeral insurance is undoubtedly one of the most interesting insurances if you are already aware that your death will also affect your next of kin. After all, financing a funeral is a matter that often involves a lot of costs, and you obviously don't want to saddle your loved ones with that. Especially when they are still going through the grieving period.
This is precisely why it is important to purchase funeral insurance as early as possible. Is such funeral insurance actually mandatory, yes or no?
How does transferring a funeral insurance policy work?
What is funeral insurance underwriting, how does this process work and what do you best pay attention to when taking this step? All of these questions are answered here so you can make an informed decision.
Can you buy funeral insurance over the age of 65?
What does buying out a funeral insurance policy entail?
Would you like to know more about buying out your current funeral insurance, what is involved and what are the main advantages and disadvantages? Below, all your questions will get a clear answer, so you are sure to make the right decision.
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