UP TO WHAT AGE CAN YOU HIRE A FUNERAL INSURANCE?

UP TO WHAT AGE CAN YOU HIRE A FUNERAL INSURANCE?

Obviously, as we age, the likelihood of death is increasing. By that them safe of life have an age maximum of procurement, that varies, depending on the coverage and the insurance. Most often the boundary between 60 and 70 years. Same happens with funeral insurance?

First, remember that a funeral insurance and life insurance have little in common, except that they are activated at the time of the death. In fact, they are very different products. In the case that concerns us, while life insurance may not be charged if he survives to age, the funeral insurance will activate sooner or later (as long as the corresponding premiums have been satisfied).

The question that really interests us today is up to what age you can hire a funeral insurance and if you can hire overcome age that normally allow other insurance, such as life. More specifically, a retiree can insurance of deaths to 65 or 70 years?

Taking into account the increase in the risk, as we said at the beginning, it is easy to think that perhaps at this age insurers aren't willing to make to anyone. In fact, this age not only not you can hire a life insurance, but it also you can hire a private health insurance (unless the person take secured a while with the company).

In the case of funeral insurance is different. Although each insurance company is different, the truth is that some companies that allows you to buy certain deaths from age 65, but in certain conditions, as it can be expected. Taking into account that the life expectancy in Spain more than average 80 years (although that greater in women than in men) and that this figure increases each year, it stands to reason that it still is apart from this type of insurance contract.

A curious fact, did you know that life expectancy has increased to 40 years in the last century?

Following search with the subject that concerns us, we will say that, beginning at age 65, insurers only allow to hire a funeral insurance single premium. What is this? We see it then

FUNERAL INSURANCE FOR THE ELDERLY

There are four types of bonuses that can be applied or hire in the insurance market deaths, which are: level premium (the insured pays the same premium each year throughout his life), natural raw material (to carry years premium increases), mixed premium (as it increases the age premium is doing at the same time until it reaches a certain age and becomes constant) and single premium (all the premium is paid in a single payment).

As it stands to reason, the ter first types of bonuses, taking into account the risk, they would be profitable for the insurance company.

The fact that the contracted funeral insurance from age 65 only to single premium implies a high cost of insurance, compared to the rest of insurance. As it is to be expected, as age increases, also increases the premium, and can reach a point where no insurer accepts the hiring of a funeral insurance.

In this sense, it is worth highlighting the importance of a funeral insurance contract arise if 65 or 70 years if it has not already. Perhaps the premium is high, but only paid once, the advantages are many, since you can forget about what will come after (rises of CPI, return receipts, etc.) and your family will have an issue resolved in a moment as hard as it is the lose a loved one.