Why funeral insurance is good for you and your family

Published on Thu Aug 15 2024 in Family

Losing a loved one is an emotional and challenging time, and financial burdens should be the last thing on your family’s mind. Funeral insurance will ease these worries by covering funeral expenses and other final costs. 

Did you know, in New Zealand, the cost of a modest funeral generally falls between $8,000 and $10,000, as reported by the Consumer NZ and the report done by Ministry of Health in 2019. However, these expenses can fluctuate depending on factors like timing, location, the type of service, and the selection of a casket or headstone. Additionally, funeral expenses are increasing. Funeral Insurance provides your family with a fast lump sum payment upon your passing, so your family can quickly cover funeral expenses and other final costs.

The advantage of Funeral Insurance is its prompt payout, giving your family the flexibility to use the funds as needed. Whether it’s for the funeral service, outstanding bills, or immediate mortgage or loan repayments, your family can use the funds where they are most needed.

At Momentum Life, we try and make funeral insurance as painless as possible: Straightforward cover, designed to be easy on the wallet, allowing your family to focus on honouring your memory without the added stress of financial concerns.

References: 
Consumer NZ: The cost of dying – Consumer NZ

Ministry of Health (2019). [Health and Independence Report 2019] Retrieved from [Ministry of Health Health and Independence Report 2019 | Ministry of Health NZ]

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.