Funeral Cover Premium Prioritization
Most people take funeral cover to get them through rough times financially. Unfortunately in our unstable economy, sometimes it can be difficult to keep paying your premiums. This can be a vital mistake because death is not connected to our financial situation. Funeral cover is usually not the most expensive insurance premium and can make a huge difference in a time of need. Paying for your funeral cover can be a very wise decision, if someone pass away on your policy, you need to make sure that your funeral plan is in force.
The reality is that if you don’t pay your funeral cover premiums, unfortunately, you won’t be covered. If you, or anybody on your policy pass away during a time that you did not pay your funeral cover premiums, you might not receive any benefits. We usually suggest that you make provisions for your funeral cover premium in advance. It’s a relatively small premium that can make a huge difference in your financial situation.
Importance of Paying Premiums
Insurance is there to help you should something go wrong, and if you discover that you won’t receive benefits due to missed premiums, you may find yourself in financial debt.
So what we usually suggest, don’t skip your funeral cover payments unless you have absolutely no alternative. If you have no other option, we would suggest you contact your funeral plan provider and make necessary arrangements.
Also, remember that some providers only provide cover from your first premium, make sure that you have the funds available on your first debit date. Setting your debit date should usually be a day or two after you receive your salary. This way you can insure that your funeral cover premium is deducted before you spend your salary.
Funeral Cover is the responsible thing to do and should be regarded as a top priority. Don’t regret not paying your premiums. Make sure you don’t ever skip your payments to ensure that you are fully protected.