Thinking about your own death, especially while in the prime of life, may seem morbid, but it is actually the perfect time to put your affairs in order. One way to ensure your wishes today are carried out tomorrow is with a funeral insurance policy. The subject may seem intimidating but it’s preferable to the possibility of leaving your family members alone and vulnerable should you die without making plans. Review these questions and answers for a good idea of how to start:
• Why is funeral insurance important?
• Your loss will change your family’s financial situation; funeral insurance, which is also called burial insurance or death insurance, will help get them through the urgency of a funeral without undue financial burden.
• Do healthy people really need death insurance?
• Healthy Australians die unexpectedly every day. A sudden and unexpected death is shocking enough, without the added expense an unplanned funeral will generate.
• What’s the value of a death insurance policy?
• Plans vary, with benefits peaking at $15,000. When death is accidental, the benefit amount paid to beneficiaries triples.
• Does inflation affect coverage?
• Yes, and you’ll be notified each year at policy renewal time. Expect an increase of 5% each year but you may choose to decline the increase in writing if you’d rather not opt in to it.
• Who’s eligible?
• Every Australian between 18 and 79 years of age is eligible, regardless of health status. No one is denied and no pre-enrollment medical examinations are required.
All over the world millions of people fall into debt. Although there are many ways of escaping bankruptcy, at times it seems to be the only solution. It could be desperation or ignorance on the part of the consumer; however the good news is that one does not always have to take such a final and drastic step. Here are some effective ways to avoid bankruptcy and get back your peace of mind.
If the stock market always recovers and goes higher over time, why is it that the majority of people (80%) lose money?