Over time, many arguments have evolved as well as emerged if insurance covers funeral cost, though the results of these several arguments have been into two-fold; some has argued that insurance covers funeral cost, others said that it does not. But at the same time, before we draw a line as to a comprehensive conclusion of the assertion in attaining the truth, it is worthy to note that not all insurance deals with funeral aspects. The only insurance that could lead to this argument is termed life insurance. Life insurance is that aspect of insurance that deals with a contract between an insurer and a policyholder in which the insurer guarantees payment of a death benefit to named beneficiaries upon the death of the insured. It can also be said to contract with an insurance company in which one (proposed insured) makes installments, so a loved one receives payments once you pass away the insured passes away
In some countries, more especially most times in Africa, when a loved one pass away; responsibilities as well as bills piles up for the family to cater for, this typically includes the funeral arrangements if there was no advanced arrangement yet. Some would ask if there is a necessity for an advanced preparation to be made. Yes of course, if there is no advanced preparation for one’s funeral, when the person dies it is either most times, his properties is been sold to lay him to rest or his children will be incurred with so much responsibilities as regards finance.
In the United States of America, it has however been discovered that virtually 65% of her citizens are into or have been insured in terms of life insurance yet this cannot be a yardstick to start catering for the bills as regards the funeral deceased. Not all life insurance policies pay for a funeral during the death of the insured but However, there is something known as Funeral prepaid or prepaid funeral. Just as the name implies prepaid; this is a claim that is paid before the funeral to ensure proper planning of the funeral of the deceased. It is hence advised that everyone who wants to ensure should, however, preplan their funeral and the cost because in the funeral preplanning the services are locked in your rate and avoids the family of the deceased to start making a hurried plan as regards the funeral ceremony. Though in the United States, most persons are into this already but most African countries are still finding it difficult because to them is raises against their Cultures as well as norms. It is worthy to note that the prepaid plan is a policy and it can also be said to be the funeral prepaid policy. One advantage of this policy is that it keeps your family comfortable and avoids unnecessary pressure when you’ve passed on.