what is the difference with death insurance?

what is the difference with death insurance?
what is the difference with death insurance?

The question of death interests the French more and more. Some people who have specific wishes to enforce when they are no longer here turn to insurance products. Here is the important information to have.

Many French people want to prepare their death and protect their loved ones from need once they are no longer there. To achieve this, they are supported by insurance by subscribing to a product that corresponds to the desired objectives. You have the choice between funeral planning and death insurance. You don’t know which of the two to choose? We reveal to you the provisions of these insurance products to allow you to make a better choice.

Insurance products that cover the death of individuals

Funeral planning

There funeral planning or funeral insurance is a product that allows an individual to organize and finance their funeral, as indicated by Planet.fr magazine. It is an offer which gives the possibility of protecting the relatives of the insured person from all expenses linked to his death. This contract generally covers the expenses of funeral services and funeral costs, whether burial or cremation. This may include the purchase of the coffin, the repatriation of the body and the burial or cremation tax.

Death insurance

Death insurance is a product that is advantageous for relatives of the subscriber. This is capital which aims to preserve the standard of living of the beneficiaries and to secure your projects following your departure. In fact, this contract allows chosen relatives to benefit from capital or an annuity temporarily or for life. Temporary death insurance is only valid for a period defined in the contract. In the event of disability or total irreversible loss of autonomy, the insured person may himself benefit from this capital.

The prices of these insurance products

The price of funeral planning varies between 3000 and 8000 euros, knowing that the average cost of a funeral is 4300 euros and that of cremation is 3800 euros. Its exact value depends on the total cost of funeral, the amount of the guaranteed capital, but also the age of the subscriber. As for death insurance, its price depends mainly on the capital envisaged, the minimum of which is 200,000 euros. To estimate its value, we also take into account theage of the subscriber and the guarantees.

What you need to know before subscribing to these insurance products

Subscription to funeral insurance

The conditions for subscribing to funeral insurance are much more flexible. From the age of 40 to 80, or even older, you have the option of subscribing to an individual or joint offer. Depending on the capital chosen and the preferences of the insured for his funeral, contributions will be spread over five to ten years. For your contract, you have the choice between the insurer, funeralthe bank or a specialized mutual such as MUTAC.

Subscription to death insurance

Anyone aged between 18 and 80 can take out a death insurance contract. Since its aim is to anticipate the consequences of premature death, it is better to join early to be able to contribute the equivalent of one to three years of salary. However, the subscription age limit is determined by each insurer, by each social protection group or by each mutual insurance company. The warranty is only valid for a period clearly defined in the CONTRACT.

The particularity of these insurances

In all the different death and funeral insurance policies, beneficiaries are designated. Beneficiaries of funeral insurance will be responsible for the subscriber’s funeral. To the extent that the expenses incurred are lower than the contract amount, the beneficiaries benefit from the remainder. As for death insurance, this contract offers the possibility of choosing a beneficiary with or without a family relationship.

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