For yourself, but especially for those you leave behind. A funeral insurance policy helps ensure a worry-free farewell. The costs of your funeral are covered, and taking out a policy is a great opportunity to consider your personal wishes in advance.
A Worry-Free Farewell
Planning ahead can bring peace of mind, even when it comes to life’s final journey. A funeral can easily cost around €10,000 an amount not everyone can set aside. It’s reassuring to know these expenses will be paid after you pass away. Funeral insurance is specifically designed to cover your burial or cremation. By paying a monthly premium, you build up funds that become available at the end of your life.
Most insurers offer you two main options when you purchase a policy:
Capital Insurance
A fixed sum of money is paid out to the beneficiaries, who can then use it as needed to cover funeral costs.
Benefits in Kind Insurance
This type of policy covers specific products or services, such as the coffin, transportation, or ceremony. Insurers often work with selected funeral providers, so it’s wise to do your research before choosing a policy.
With the right insurance, you can be confident there are enough resources to fulfill any personal funeral wishes. You also prevent your loved ones from having to bear your funeral costs. In this way, everything is taken care of now and for the future.
Professional Advice
Funeral costs can vary greatly depending on personal preferences and the chosen type of service. A cremation, for instance, typically costs around €8,500, whereas a traditional burial can be around €11,000. A natural burial, at roughly €12,000, is slightly more expensive due to the perpetual burial rights required by natural burial sites. However, in the long run, a natural grave may be more cost-effective because there are no recurring plot or maintenance fees nature itself takes care of maintenance.
If you’re considering taking out funeral insurance, get in touch with a few insurers that catch your eye. Communicate your vision for a final farewell and ask for advice on how best to finance it. Should your funeral wishes change after you’ve taken out a policy, check whether all costs are still fully covered, so you don’t end up underinsured. Certain funeral insurance providers even allow you to reserve a spot in nature in advance. Because such policies generally only pay out after death, the costs are reimbursed only at that time. Be sure to keep the invoice for the natural burial site and any other funeral expenses safe.
Besides natural burial, there are other eco-friendly options such as a mushroom coffin or sustainable funeral flowers. Some insurers partner with green funeral providers, making it easier and often more affordable to arrange an environmentally conscious funeral.
Funeral Wishes
Taking out funeral insurance is a good time to think about your own preferences. By planning early, you avoid financial surprises. In a “wishes booklet” or funeral plan, you can note down exactly how you see your farewell unfolding. This guarantees your funeral proceeds just the way you envision. Not only does this offer peace of mind for you, but it also helps your loved ones by minimizing uncertainty or disagreements about the arrangements.
Many funeral organizations offer a digital wishes booklet where you can often at no cost compile a checklist for your funeral. Do you prefer burial or cremation? Would you like the service to be held in a church or funeral home, or would you rather choose a personal location? Is a home wake important to you? And what about flowers, transportation, or catering? You can record all your personal preferences in detail and revise them later if needed.
If you already know you’d like to be buried in a Loop Living Cocoon™ or use the Loop EarthRise™ urn, you can arrange that with a Loop Voucher. By reserving your product for the future whether that’s ten, thirty, or fifty years from now you’re also supporting Loop Biotech in its mission to enrich nature. You may have very specific ideas about the music you want played during your funeral but not really mind the style of printed materials. You can leave that choice to your loved ones. There are plenty of reasons not to put off funeral planning. By preparing now, you offer peace of mind both for yourself and for those who will remember you.