Life insurance vs funeral insurance?

[James Deuce]

Most funeral directors will let you arrange payments...Ive done it twice before...and depending on financial circumstances there is a funeral grant available from WINZ

If you're lucky. It's certainly not something I count on or hope for.

Personally I hold no faith in any business taking a humane view and I have seen people ruined by funeral directors. If you don't imagine the worst and plan for it, you're not protecting family and friends.

[HenryDorsetCase]

If you're lucky. It's certainly not something I count on or hope for.

Personally I hold no faith in any business taking a humane view and I have seen people ruined by funeral directors. If you don't imagine the worst and plan for it, you're not protecting family and friends.

Most people are not emotionally able to deal with fun eral directors and dont realise that by signing up the contract they assume liability for the debt. I have over the years had some very frank discussions about their expectations of payment and their treatment of victims. The thing is, they always get paid, they know they will and their ridiculous overcharging must account for that. Sure they're carrying a bit of cost for a few months, but their margins are calculated to cover it.

Its a bloody cut throat business too, behind the scenes.

[Genestho]

Life Insurance, if you're employed within a large company, your employer may even provide a super scheme that's paid out on death or disability, too.

I'd also recommend that you make sure your will is upto date and specific. Have seen friends battle for life insurance for months and months when the will wasn't current, one partner lost everything, as there was no will, that was in a long term de-facto situation...

[Zedder]

I dont intend to drop the life insurance, Have always thought these funeral plans from Cigna, AA BNZ etc, would work expensive for what you get from them.

Maybe you could ask about options for the Life policy ie: What's the Surrender value, can it be changed to an Endowment policy? Then work out a plan.

[Winston001]

stick with the life insurance. Particularly if you have mortgage debt. Even if you have mortgage repayment insurance that pays the BANK not you.

also, do the maths that is FUCKING expensive. $14.75 a week is $767 a year so in 13 years you have PAID them the $10k. Do the same sums on your life insurance and see which is the better deal. (though I acknowledge that conceivably you could pay $23. a week and receive no return, but thats not really the point.

Put the $14.75 in the bank by DD and forget about it.

Also, funerals dont have to cost ten k. Most of the bills I see vary between $4500 and $6000.

And if your family is strapped, and you are a biker, sometimes there will be a hat passed around.

TL;DR That is just predatory fucking bullshit. Dont fall for it.

I concur with my learned friend.

[Road kill]

I have a $10,000 funeral policy through my Union membership.

$14.00 a fortnight,,,she get's the lot,,so that's around $3000 for a cheap fire an the rest for a piss up or what ever she frigin' wants.

I could care less,I ain't gonna be there.

[BMWST?]

Thanks, My wife is the policy holder. She would need the life ins. to pay funeral and other debts in my name. My initial concern is when I retire in 4 years, I'll be debt free, but could I keep up the life premiums with their usual annual premium increases. The funeral ins prems wont go up.

it sounds to me as if you d ont need the life insurance.