Life Insurance is the simplest and most important way to lessen the financial strain of losing a loved one. Dealing with bereavement is a difficult task for anyone, so making sure that your loved ones are protected against financial difficulties in the event of your death is of paramount importance.
The Cost of Funerals.
Losing someone can be hard. Aside from the obvious emotional implications, there are many practical factors that have to be considered by the deceased’s family. One of those considerations is the cost of a funeral. When we think of funerals, it’s rarely to do with the potential cost of a funeral. But, with the average cost of a funeral at over £6000, it’s important to consider how this might affect the people we leave behind. And, judging by the evidence we see, too few people make these considerations. As a result of this, less than half of people do not leave enough to cover their funerals. This can lead to families taking out loans or getting into debt in order to pay for a funeral. Taking these measures can be crippling for someone’s financial future, which only heaps more stress onto those already struggling with a bereavement. And, the exorbitant cost of funerals shows no sign of slowing, with the cost of funerals rising a massive 4.7% in the past year.
Making Provisions.
One of the best options for anyone looking to alleviate the financial strain of funerals for their loved ones is to take out a life insurance policy. A good life insurance policy can really help to mitigate the inevitable financial consequences that come with loss of life. Not only will a good life insurance policy ensure the financial wellbeing of your financial dependents, but it will also help with covering the cost of funerals and other costs associated with death.
But, taking out a policy can be confusing and complicated with policies varying from ‘Life Insurance’, ‘Critical Illness Cover’ and ‘Total and Permanent Disability Insurance’. So, deciding what policy to take out can be difficult, especially if you have a particular goal – like covering the cost of a funeral – in mind. There is a wealth of information online but, depending on your source, advice can be conflicting and even biased in some cases. With something as important as a life insurance policy – a financial decision that could make or break your family’s financial futures – there is no good substitute for face-to-face advice, tailored to your specific situation. An expert like IAE insure can make all the difference, helping to walk you through a complicated process and discuss your goals to facilitate the best policy for you.
Contact Us.
If you’re concerned about whether you have enough cover or want to discuss what policy is right for you, contact IAE Insure today at info@iaeinsure.ae or call +971 4 396 1878 for a FREE no obligation quote. Visit us at www.iaeinsure.ae.
