Funeral insurance baby
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A funeral for your baby is something you, like every other parent, would rather not think about. On the other hand, even before your baby is born, it is important to consider the practical responsibilities and procedures related to the necessary insurances, such as funeral insurance.
Funeral insurance usually applies to adults, but it is also possible to purchase such insurance for your baby. What is involved? Read more below.
What does a funeral for a baby cost?
The cost of your baby's funeral is, of course, the last thing you want to be concerned with when your baby dies. This is precisely why it is worth looking for a good funeral insurance policy for babies.
By law, if a baby dies after 24 weeks of pregnancy, a funeral must take place. Before that, it is not mandatory, but can be done. Many people, after an official cremation or burial, also choose to bury their baby in nature, or even in the backyard. In any case, most opt for a funeral.
What exactly does a funeral for a baby cost?
On average it is 1,000 euros, depending on several factors, including the personal wishes of the parents. Very often parents choose to keep the funeral intimate, with the result that the cost is also a lot lower than for an adult funeral.
Once the child is older, the cost of a funeral quickly rises to 4,000 or even 10,000 euros. A hefty sum that not all parents can afford. This explains why many people wish to take out funeral insurance for themselves, with free coverage for their children included.
Is a baby automatically co-insured in his parents' policy?
You may be wondering if your baby or infant is automatically insured for a funeral if you have your own funeral insurance. With most insurers, it is, and even unborn babies are co-insured.
Usually this rule covers babies from 24 weeks of pregnancy and up to 1 or 2 months after birth. A prerequisite, of course, is that one of the parents has purchased their own insurance.
What happens after that 1 or 2 month period
Once that period expires, your baby is automatically no longer co-insured and you must add him or her to your own insurance policy. This is usually free, although with some insurers you pay a low premium per month.
Also, with most insurers, your child is co-insured until he or she is 18, 21 or 25 years old. Conditions vary quite a bit from insurer to insurer, so it pays to research and weigh them in advance.
Getting your own funeral insurance for your baby
So while most insurers do offer the option of including your baby in your own funeral insurance, it is also possible to take out a separate policy for your child. What are the advantages and disadvantages of doing so?
- The advantage is that your child builds value with their own insurance, just like you do.
- The downside, of course, is that you pay a monthly premium for your child's funeral insurance.
With most insurers, that monthly premium is very low. Still, it pays to compare the different terms and monthly premiums of a variety of insurers so you know what to expect.