We took a look at a popular brand's funeral insurance product to see how much funeral insurance can cost (yearly and monthly) based on age groups and how much you insure. Prices shown are the initial premium in the first year, based on a sum insured of $7,000. Premiums may increase as you get older. Quotes last checked as accurate June 2017. Prices shown are the initial premium and are based on a 47 year old male. Premiums may increase as you get older. Quotes last checked as accurate June 2017. Get a quote directly with an insurer What are the key factors that influence the cost of funeral insurance? The main factors that will determine the cost of your funeral insurance are: Where you...
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Consumer NZ has taken aim at the poor value of some funeral insurance policies, highlighting a complaint it received from a customer who paid $18,900 in premiums for a policy worth only $10,000. Consumer NZ chief executive Jon Duffy says the customer, an 85-year old woman, took the insurance out in 2003 to cover herself and her adult son, and was given cover of $5,000 for each life insured. Over the next 17 years, she paid out almost $9,000 more in premiums than the policy would ever have paid out. The insurance was provided by Fidelity Life, which has refused to refund the additional premium and says the policy had worked “as designed.” Duffy says that since funeral insurance...
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Funeral Cover The Importance Of Funeral Insurance It is a tragedy when a loved one comes to pass. No person is ever really prepared for such unfortunate circumstances, but it happens, and we can gain with a funeral plan. This is a protection policy that an individual buy to cover burials and memorial services. It settles all costs from the coffin to the ceremony leader. It will help you family left behind when you have a funeral plan in place. This will save them from having to pay all these expenses out of their pocket. It is expensive these days to lay a loved one to rest, so make sure that you are protected. Your family will benefit from it on a financial basis. Let them mourn in peace,...
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Short-term insurer King Price has confirmed its entry into the South African life insurance market after regulators this week gave the green light for its acquisition of life insurer Stangen from JSE-listed African Phoenix Investments, for R140 million. The move allows King Price to achieve its ambition of gaining a running start into the local life insurance market, said chief executive Gideon Galloway. The insurer plans to launch the King Price life brand within the next 12 months, and forecasts that life products will make up half of its revenue within the next decade. “King Price and Stangen is a partnership that just makes sense. We’re teaming up to reinvent life insurance for South...
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When it comes to paying for your funeral in Spain, what’s the right choice for you and your family? Have you thought about what your loved ones would do if you passed away in Spain? It’s not a nice thing to think about, but if you’re an expat living in Spain, it’s essential to have a plan in place for your funeral. With unfamiliar customs, unexpected costs and language barriers, arranging a funeral in Spain as an expat can be complicated. There are several ways you can make plans in advance and look after your family when the time comes. The most popular choices are expat funeral plans and life insurance. But how can you figure out which one is right for you? Here...
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FREQUENTLY ASKED QUESTIONS The period right after the death of a loved one is always a very stressful time. Not only is the loss of a family member or friend emotionally devastating, but it also comes with financial and legal challenges to deal with. One of the most challenging parts of death is planning the funeral. Life insurance policies are typically intended to cover the costs of a funeral, but it can take time for them to be processed. If you’re in this situation, you are probably wondering if your funeral home will wait for your life insurance payment to come through before they charge you any funeral fees. Funeral Homes and Life Insurance The good news is that most funeral homes...
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Funeral insurance policies are designed to help relieve any financial burden that usually accompanies a death in the family, regardless if it’s an anticipated loss of life, or an unexpected death. Funeral insurance plans provide a cost-effective means to finance one’s final expense requirements. Funds from a funeral insurance plan, could also be used to provide the necessary money to repay many final debts; mortgage payments, credit card bills, car loans, or possibly utilized as income replacement while your family is in a transition period. Funeral insurance policies are especially necessary if you have just one income source for the whole family, or a family with minimum savings. Let’...
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Obituary of Harry Purinton Gaunce The family of Harry Purinton Gaunce is sorry to announce his passing at Bobby’s Hospice, April 8, 2020. Born in Richmond Corner, NB, July 15, 1934, he was the son of Frederick Basil Gaunce and Clara (Purinton) Gaunce. In 1943, Harry’s family moved to Saint John. He spent most of his childhood living on Waterloo then Germain St. He graduated from Saint John High School in 1952, and then completed Grade 13 (senior matriculation) in 1953. He developed long-lasting friendships, public speaking and interpersonal skills with Jaycees (Canada’s Junior Chamber of Commerce). Harry began his career with Royal Insurance, where he earned his Insurance Diploma from the...
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Special Marketing Project, Anderson Lookkin, Assurant As a consumer, you may have or are considering purchase of an insurance plan, maybe for your final expenses or specifically for your funeral cost. While paying at the time of services or setting aside money in trust for funeral goods and services is an option, the most popular way of pre-paying for funeral costs is through the use of a final expense or a pre-need funeral plan of insurance. Under a final expense plan, the client names a beneficiary to take care of his/her arrangements or other expenses with proceeds paid by the policy at time of death. Under a pre-need plan, the proceeds are paid directly to the funeral home that was...
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Funeral insurance in the Netherlands When you decided to live and work in the Netherlands, you probably weren't thinking about the day you pass away. It’s not something one likes to think, or let alone talk, about. Sadly enough, death is part of everyone’s life. Whether it comes as a terrible surprise or as a relief after a long and fulfilling life, your family or loved ones will have to process their loss and emotions. On top of that, a funeral will have to be arranged and paid for. If you know some Dutch people, you might have noticed they like to plan, arrange and insure as much as possible. You might think it is a peculiar cultural habit, but if you take a minute to really...
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