Funeral insurance contracts provide for the financing of burial expenses and the organization of funerals . The future deceased thus ensures in advance that these expenses can be paid and that they will not be supported by his heirs.
If the objective of building up sufficient capital to support the future cost of burial can be fulfilled by any savings operation, a funeral insurance contract offers the advantage of associating the services from a funeral parlor to those of an insurer and thus to plan his funeral in complete tranquility.
Moreover, the cost should not be underestimated, the average price for a burial being of the order of € 3,500 to € 5,000. This is why, before studying the various offers of insurers, it is useful to estimate the price first of all depending on the services chosen.
Funeral services price list
The funeral services can take care of the whole ceremony and the total organization of the burial, from the care of conservation until the grounding (in the event of burial) or be limited to the benefits that you will order him.
Everything depends of course on the wishes expressed by the future deceased: cremation or burial . But the rate also depends on the level of benefits chosen, the region and the type of funeral business (municipal or private).
The table below provides a rough estimate of burial expenses per line of supply.
|A carrier||90 €|
|Master of Ceremonies||150 €|
|Administrative procedures, organization||150 €|
|Solid oak casket||600 €|
|Conservation care, toilet and dressing||350 €|
|Put in Berre||100 €|
|Opening and closing the vault||400 €|
|Share and thank you||150 €|
On the other hand, this table does not take into account the additional costs which will have to be taken into account:
- Expenses related to a religious ceremony: count from 100 to 200 €.
- Digging the pit if you do not own a concession: count 300 to 400 €.
- Purchase a concession for a period of 15 years or forever. : less than 100 euros for small provincial towns and 200 to 500 euros for big cities for a period of 15 years.
- Funerary monument and marble works (count in addition about 1000 €).
The funeral insurance policy does not require any medical formality , but has an age limit for subscription (most often 80 years). This is a capital contract that allows you to subscribe for an amount equivalent to the one you have planned for your funeral. Know that there are three ways to settle.
- The payment of a single premium: you benefit in return for a significant discount.
- Payment in the form of savings over a fixed period of 3 to 20 years, depending on the contract.
- Payment in the form of lifetime bonuses. You pay until you die.
Unlike a classic death contract, this contract “gives an order” to the insurer to directly pay the appointed funeral service on the basis of the defined amount. Heirs therefore have no advance costs to provide.
Good to know: the paid-up capital at death is excluding inheritance tax.
The funeral convention
The funeral convention is the term used to describe this contract family. It is actually an agreement between the insurer, the funeral director and the insured on the organization and financing of the funeral.
Important: most companies offer basic services in addition to assistance to help families complete all formalities. Ask beforehand about the different proposals and take care to compare the offers.
Some examples of convention
- AVIVA, one of the market leaders, offers 24-hour telephone support to inform you about the administrative procedures to be performed. The insurance company has also signed a partnership with OGF , a funeral services company, which provides support within 2 hours of the organization of the funeral. This funeral agreement also provides for the repatriation of the body if it is located more than 50km from the place of burial.
- MALAKOFF MEDERIC offers, in addition to the hotline, psychological assistance and repatriation around the world, as well as pet care.
Alternatives to funeral insurance
It is not always useful to use this type of contract to anticipate the financing of one’s funeral, especially if one has sufficient capital.
On the other hand, if the goal is only to build capital for the payment of the burial, some conventional savings operations can do the trick.
Saving on a booklet
A bank booklet can perfectly fulfill this role. For example, regulated booklets have two advantages that will allow the heirs to use the capital. Funds are fully available It is possible to make a power of attorney to children. The money can be released at the time of death by the heirs to pay funeral expenses. Capital will nevertheless enter the base for calculating inheritance tax.
The beneficiary in the event of the death of a life insurance policy may be responsible for paying the burial. The beneficiary clauses may also contain details specifying the terms of payment of the capital and its future use.