Funeral or burial insurance is an insurance contract where a cash value is built over time. It is an elementary life insurance which is used to pay for funeral activities and market cost. This policy covers people till the age of 100 and the applicants do not need to go through health examination to get this insurance, all they need to do is swear that they are not ill currently. The premium for this kind of insurance does not change at all.
The history of funeral insurance is back in the time of Roman and Greek civilization who actually introduced this funeral insurance where a group of people called, “benevolent societies” which took care of families and paid the funeral expenses on the death of the person.
Funeral insurance quote is something that is provided by insurance agent to the insured to disclose the costs and terms of acquiring an insurance policy, higher the risk of loss, higher will be the cost of insurance. A best funeral insurance policy covers the funeral expenses at right amount at right price. The cost of funeral in Australia ranges from $4,000 to $15,000. Use of funeral insurance can provide benefits with financial assistance in the event of the death so that funeral and merchandise costs can be paid.
In addition to Funeral Insurance, Trauma insurance is an insurance policy which pays the insured a lump sum of money in the event where the insured is diagnosed with certain illness which includes diseases like stroke, heart attack and cancer as well. If a person suffers from heart disease, the life insurance would not pay but trauma insurance however gives the lump sum to comfort the financial pressures.
Also, indemnity insurance is an insurance policy whose goal is to protect business owners and employees when they are at fault due to events like misjudgment. It includes policies like malpractices policy, error and omission insurance which insures proficient against the claims.