Cheap funeral insurance
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One of the most important factors to consider when buying funeral insurance is, of course, the cost you pay for it. While it is usually thought that such insurance costs an incredible amount of money, it is actually possible to get good insurance for a lower price as well.
What exactly does funeral insurance cost, what does it depend on and what can you do to make your funeral cheaper? All questions that need clear answers and you'll find them here.
What does a funeral cost on average?
First, it is important to know exactly how much a funeral costs, as this will have a big impact on the cost of the funeral insurance itself.
Depending on personal requirements, that price is easily between 7,000 euros and 11,500 euros in the Netherlands, although there are also a lot of options for a smaller budget. Furthermore, you can read more about that.
What does the cost of funeral insurance depend on?
Exactly what things influence the premium you pay for funeral insurance? The average cost for this insurance for someone 18 years old is between 5 and 6 euros per month, and that already tells us something about one of the main influencing factors:
1. The age of the policyholder
The younger the policyholder, the lower the monthly premium for funeral insurance. This, of course, is because the risk of death is much lower for a younger person. As mentioned, that price is between 5 and 6 euros, depending on the insurer you choose. The difference between those 5 and 6 euros seems little, but in the long run it means a large sum of money.
If someone takes out funeral insurance at a later age, say 30, the premium already costs 6.50 to 8.50 euros. At age 45, it is as much as 10.50 to 14.50 euros.
2. The state of health of the policyholder
Health status also greatly affects the monthly premium for funeral insurance. If someone suffers from a serious illness and takes out funeral insurance, the insurer realizes that the chances of death are much higher. This is one reason why older people usually pay more for insurance: they are more likely to have poorer health.
3. The cost of the funeral itself
Finally, the cost of the funeral itself has a big impact on the price of funeral insurance. People who are content with a simple funeral without too much fuss will pay less than those who like to have a complete funeral with catering, reception, bouquets and more.
How do you keep a funeral as inexpensive as possible?
1. Cremation instead of burial
People often choose cremation over burial, as this approach costs a lot less. After all, a funeral also involves a casket and some more decorative finishing touches for the space.
2. Choose the right day for the funeral
In addition, a weekday funeral usually costs a lot less than, say, a Saturday. Of course, this can make it challenging for family members and friends to attend the funeral, so make clear arrangements in that case.
3. Choose a simple box
Finally, it is a good idea to consider any inexpensive alternatives to an expensive casket. There are a lot of options that can quickly save you a large sum of money. For example, you can opt for a basic casket without too much decoration, or even a wade.