7 Things funeral insurance can be used for
Published on Mon Jul 8 2019 in Money
More Kiwis are looking for ways to help family cover the cost of their funeral. With the average funeral in New Zealand costing around $9,000, it’s no wonder this is causing concern for many. That’s a lot of money to come up with on short notice, a real struggle for countless families right around the country.
However, when a loved one passes away, there are other expenses that also need to be taken care of. These might be the day-to-day things that don’t stop just because you’ve lost someone, or special costs that are related to their passing.
Funeral insurance is one way to help pay for your funeral.
Here are 7 things a funeral insurance benefit could be used for, other than the funeral itself:
1. Your final bills
There’s a good chance you’ll leave a few unpaid bills behind when you pass away. Electrical, water and other utilities… maybe even a phone or internet bill. Funeral insurance could help cover these odds and ends.
2. Travel to attend the funeral
If you have family living far away—whether that’s a few hundred kilometres or on the other side of the world—getting to the funeral could be expensive. A funeral insurance policy could help provide a bit of money for petrol, flights, bus tickets or whatever else might be needed to make the trip.
3. Your family’s household bills
As much as your family might want to hit pause on everything to grieve, it’s just not possible. Funeral insurance could help them cover utility bills, buy groceries or handle other day-to-day expenses that won’t stop just because they’ve lost someone.
4. Following your funeral wishes
You may have given some thought about your funeral and might even have some extra special requests for the service. A funeral insurance benefit could help your family follow these wishes—whether that’s being buried in a custom painted coffin or having your ashes mixed into a firework!
5. A special trip
People may come from far and wide to pay their respects to you, but you may want your loved ones to do some traveling, too. That could be taking your ashes to be scattered in your home country or letting your spouse revisit the spot where you honeymooned. Funeral insurance could help buy the plane ticket or cover accommodation for one last trip.
6. Supporting their dreams
After you’re gone, life will continue for those closest to you. You may want to leave them a bit of cash to help kickstart their future.
7. Giving back to the community
Any leftover Funeral insurance benefit could be donated to your favourite charity or non-profit organisation. This request can be written into a Will or funeral instructions to let your family know when the time comes.
Ready to get covered? Request a free funeral insurance quote from Momentum Life today!
About Author: Momentum Life is a leading provider of Life insurance and Funeral insurance in New Zealand.
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The content provided in this article is for information purposes only. The information is of a general nature and does not constitute financial advice or other professional advice. To the extent that any of the content constitutes financial advice, it is limited to Momentum Life products only and does not consider your specific financial needs or goals. You should consider whether the information is appropriate for you and seek independent professional advice, if required.
All product information is correct at the time this article was published. For current product information, please visit the Momentum Life website.