Prepare for your own more lucrative funeral during your lifetime

iskandarmudaaceh (44)in #destasteem • 6 years ago

The death of a man brings his family not only sadness, but unexpected - and a huge cost. Therefore, the wisest man is preparing for the inevitable result of their lifetime.

For example, buying so-called funeral plans, says The Economist. In the UK, pre-paid cemeteries can boast of 1.3 million people; for comparison, in 2005 there was a little over 400 thousand and about 2.5 million British people bought a variety of funeral insurance products. On the other side of the Atlantic, in the US, millions or millions of Americans make full or partial prepayments for their own funerals.

And this is not surprising. In Britain, over the last decade, funerals rose at an average price of 5.5% per year, which is much higher than the rate of inflation. In the US, funerals are also very expensive - their average cost is about $ 9 thousand.

According to the operating principle, funeral insurance is similar to life insurance. The amount of monthly fees depends on the age of the client and sometimes on his or her lifestyle - for example, smoking habits. However, in most cases, when terminating a funeral insurance contract, you do not have to undergo a medical examination, which makes this product very attractive to people who have health problems and who can not afford life insurance.

Unlike a funeral plan, in which all future services are prescribed and paid in advance (once or in part), pension insurance is only a fixed amount of money that the deceased heir may be granted in his sole discretion. No need to pay for this funeral. This, as well as the fact that insurance payments are usually indexed by taking into account inflation, makes this type of insurance a very good accumulation way.
But the funeral plan has certain weaknesses. As a rule, they do not include all necessary expenditure items - for example, they rarely include cemeteries, gravestones, flowers and state fees. In other words, the purchase of a funeral plan does not mean that the family and friends who died did not need to bear any expense.