Funeral insurance is insurance that covers expenses arising from death of the persons insured in the policy. With this policy, you guarantee that in the event of death the relatives of the deceased do not have to bear the funeral expenses. In addition to the expenses of organizing the funeral, these insurances usually include the administrative and bureaucratic procedures and procedures themselves after a death.
What coverage does death insurance have?
When contracting a death policy, a capital is contracted for burial and funeral expenses. The policy breaks down the services that will be provided with that insured capital. Most insurance companies offer additional guarantees in addition to the funeral services themselves and organization of the burial, such as a management service that includes administrative and bureaucratic procedures, transfers, cremation, etc.
Can the price of funeral insurance vary from one city to another?
The capital insured in a Funeral policy depends on the place selected by the user for the burial and the guarantees contracted. Thus, in some cities the premium for death insurance may be more expensive than in others. Check out our post about “How much does funeral insurance cost in the Canary Islands?”
If I cancel the funeral insurance, can I recover the premium paid?
Funeral policies are for life, which means that once the insurance is contracted, it is maintained until death occurs or until the insured decides to cancel the insurance.
In the event that after the funeral all the insured capital has not been needed, the remainder can be returned to the insured's relatives.
What are the best insurers to take out funeral insurance in the Canary Islands?
There are several specialized insurers, although the coverage does not usually differ much between them. Where there can be significant differences is in the price, where significant savings can be achieved by comparing prices between different insurers.
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