Funeral insurance plans are a popular choice these days because more and more people are beginning to realize that with this type of insurance coverage, you are lessening the financial burden you and your family may face when a loved one passes. While it may only offer limited coverage, it is a very affordable option and will take some of the financial strain and responsibility of the shoulders of those responsible for all final expenses.
Funeral Insurance Plan Coverage
This type of insurance covers the costs related to the policyholder's burial and funeral. It includes all the final expenses that would otherwise prove to be too costly for most. It covers all aspects of the funeral and burial including the death certificate, the service, the burial, the headstone, and if there is anything left, it can typically go toward any outstanding medical bills or other related expenses.
Filing a Claim
So, how do you file the claim for these benefits after the policyholder passes? In order to receive complete compensation, the claim must be filed in full. The claim also needs to be supported with the death certificate of the policyholder and any other documents that may be relevant.
The claim also needs to be filed within a certain number of days following their death. The named beneficiary needs to fill out the claimant statement and send this form along with the death certificate to the insurance company.
Once all the documentation has been received and accepted, the funds can become available within 24 to 48 hours. The money will typically go to the one who has paid the premiums in full up until that time.
Start Right Away
It is best to start this procedure right away and get all the formalities taken care of within the first week. You should also keep in mind that there may be many other claims ahead of yours. It also takes time to go over the documentation and ensure that everything is in order before any benefits can be released. The sooner you get the procedure started, the sooner you can receive the benefits.
In addition to the death certificate, you should also have the funeral or burial insurance plan documents as well. The original contract for the insurance will need to be sent over along with the death certificate in order to file the claim for the insurance benefits.
Other documents you may also need to include are any medical certificates there are − as long as they are signed by a physician − a birth certificate, and even a marriage certificate.
It is never easy when a loved one passes, and it can be an emotionally and financially draining time in your life, which is why it is so important to make the arrangements ahead of time and find a burial insurance plan that can help with the financial burden and take some of the stress off the shoulders of the grieving family.