Funeral Insurance:

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How Does Funeral Insurance Policy Work?

We get a lot of questions on funeral insurance and how it works. In terms of funeral insurance, you can have a policy that is owned by the funeral home. Alternatively, what I’ll talk a little bit about now is an individual policy that is owned by the policy owner but is being used to cover funeral expenses. The advantages of this are that you own the policy, you choose your benefits rate, and you can even set up some of these policies where there is an increase in death benefit to help ...
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funeral costs in Canada

Breaking Down The Cost of a Funeral In Canada

There comes a time in everyone's life when the subject of death has to be brought to the table. Nobody likes to think about it, let alone discuss the topic with their family, but putting off important decisions about final preparations will only make things more difficult for the loved ones you leave behind. Making final arrangements ahead of time will take a lot of pressure off your survivors. Planning ahead lets everyone know what arrangements have to be made and how much it will cost, ...
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INFOGRAPHIC: How Much Does a Funeral Cost in Canada?

As explained in our infographic below, there many costs associated with a funeral in Canada including transportation and flowers to name a few. Young or old, you can still fund a funeral by using your life insurance to cover the costs:
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Canada Purple Shield’s Funeral Expenses Policies

Purple Shield has been offering final expense solutions in Canada for over 50 years. Its policies are sold by its in-house sales team and are underwritten by Assurant Life, which is a member of the insurance company insurer Assuris. A.M. Best has given Assurant Life an "Excellent" A rating as an indicator of its financial strength. Assurant Life of Canada’s parent company, Assurant, Inc., is a provider of specialized insurance products and related services in North America and selected ...
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Funeral Costs and Life Insurance

Most Canadians worry about funeral costs and final expenses. No one wants to leave these costs for their families to cover. Life insurance is the ideal solution. Beneficiaries receive a tax free, lump sum payment to help with final expenses and any other costs. There are many types of plans to choose from. However, even with life insurance benefits to cover the costs, you don't want to pay more for funeral services than you have to. An investigation conducted by CBC's Marketplace and ...
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Estate Planning: Are You Prepared?

Discussing and planning for your death can be an emotionally burdensome process, but not planning for your final arrangements can be equally straining and stressful for the loved ones you leave behind. That is why we are revealing the most common questions asked by those considering their own funerals: Who would look after my funeral arrangements, if I passed away tomorrow? What would I regret most about my final arrangements, if I passed away tomorrow? What do I ...
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Burial Insurance – Is it A Good Deal?

Burial insurance, otherwise known as funeral insurance, is essentially a permanent life insurance policy – the premiums are fixed and the plan provides lifetime protection. Burial life insurance policies pay out a lump sum tax free death benefit that can be used to cover the cost associated with final expenses. Funeral expenses have doubled over the last 15 years with an average price of $7,500 (including announcements, floral decorations, etc...) Pre-planning funeral expenses can ...
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Why Life Insurance Can Be Ideal for Final Expenses

No one wants to leave their family holding the bag when they pass on, not with bills, debts and funeral expenses. This is why Life Insurance can be an ideal fit for final expenses. The following benefits are hard to ignore: 1. The death benefit is paid out tax-free. Life insurance proceeds are paid with after-tax dollars. Hence, the benefits are paid out on tax-free basis. 2. Funeral expenses in Canada are on the rise. According to Reuters News Service, the average funeral in Canada ...
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