Funeral insurance is a guarantee of a decent funeral organization in combination with other funeral services. If you have death insurance, the client will not have to worry about future ritual events. The entire funeral process is paid for by the insurance company.

Most people have experienced the loss of a loved one at least once in their lives. Very often, this tragic event occurs unexpectedly, and the burden of both conducting and financing the funeral falls on the shoulders of relatives/loved ones.

Not everyone plans their funeral. Moreover, it is not customary to talk about this out loud. Only some older people save for a rainy day.

The main advantage that a funeral insurance policy provides is that a person can gradually accumulate the amount of money he needs. Payments under the terms of the insurance contract are made in installments over a long period, and the insurance guarantee begins to operate from the date of its conclusion. An important advantage of funeral insurance is the quality of funeral services provided by the insurer. Policies are issued by companies that provide funeral services, so all the risks associated with hiring unprofessional agents are absent. The insurance company takes upon itself the entire list of issues that require urgent solutions. For example, an insurer prepares documents for a deceased person, giving a family in which a tragedy occurred a mental break.

If relatives cannot participate in the ritual process, then the insurance company will cover all expenses in full. To conclude a funeral insurance contract, you do not have to be an elderly person. Absolutely anyone can take out insurance. As you can see, there are a lot of benefits from death insurance. You can be sure that the insurer will pay compensation because human life is not endless.

Who needs and who benefits from a funeral insurance policy?

An ordinary average person, as a rule, does not think about death, much less about insuring it. Human psychology tries to discard all negativity. People tend to think about how to pay off a mortgage, a car loan, save for a vacation, or start a business, but not about death.

A person begins to plan his funeral in old age, after the loss of loved ones or due to serious health problems. Some people start saving money, others simply describe their desired funeral ceremony. However, the most rational option is to take out a funeral insurance policy.

Who benefits from it? First of all, people who work and have a family (the main breadwinners). Funeral insurance in this case will save their relatives from the problems associated with the funeral.

Secondly, insurance services will not be superfluous for those who want to relieve family and friends from the hassle associated with passing away.

Thirdly, an insurance policy is beneficial for people who cannot or do not want to save large sums for a rainy day.

Also, death insurance is needed for those who have no relatives at all. Statistics show that death insurance is very common among older people.

List of services included in the insurance and its cost

The main question that arises for those wishing to insure against sudden death is what funeral services are included in the insurance. Each insurance company offers an individual list of services, however, the main list remains unchanged:

• calling a funeral agent to your home;
• purchase of wreaths and other ritual items;
• rent of a farewell hall;
• transportation of the deceased to the burial/cremation site;
• making a coffin or urn;
• burial or cremation;
• installation of a fence, cross or monument in a cemetery;
• registration of death documents;
• provision of a place in the cemetery (general state conditions).

Video – why do you need life insurance? EXPERT Speaks

The insurance company client is also offered an expanded program to choose from. For example, you can order more expensive funeral supplies or services such as grave fencing, cleaning, and additional wreaths.

It should be noted that funeral insurance services almost always exclude the search, purchase or booking of a burial place, because this issue is the concern of the state. The client can be buried in any cemetery.

The cost of a funeral insurance policy depends on many factors and, as a rule, ranges from 30-200 thousand rubles. This amount is the financial guarantee that the client receives for the burial ceremony after his death. If the client is able to pay the entire amount at once, then the cost of the policy is automatically reduced by 20%.

I have several existing investment agreements in Capital Life with yields ranging from 13 to 40%. I would like to say to those who are angry and offended, develop financial literacy and learn to understand investment programs. You need to buy investment programs with annual payments, the ability to fix and withdraw returns annually, and you will also receive a tax deduction of 13% annually. Such programs are called “Capital Management 360°”

Svetlana

banki.ru 05/07/2019

I, S-va Nadezhda A., live in Orenburg, I want to express my gratitude to the insurance company Capital Life, since I had an insured event. I broke my leg, and the insurance company quickly made me a payment for the injury, so if you trust your life, then only to a trusted company - such as Capital Life.

banki.ru 04/03/2019

Agreement 50******86 “Caring for the Future: Prestige for Children” was concluded a year ago in March 2018. In September, the child suffered a concussion. We were treated for 2 weeks in the hospital and a week at home. I submitted the documents as soon as I got back from sick leave. Received quickly without queues. The payment came to the account on the second day in full, as stated in the payment table. Thank you very much for being here.

banki.ru 03/07/2019

I injured my finger with a chainsaw... Having collected all the documents related to the insured event, I contacted the company. Everything was completed very quickly, the consultant was extremely attentive. The quality is a solid 5+. The payment was made on the third day of submitting the application. I am very grateful to the company for the services provided, now I only recommend Capital Life to all my friends. After this incident, I bought another insurance policy.

asn-news.ru 03/04/2019

In 2017, she entered into an insurance contract under the “Protection of the Future” Program. In 2018, a serious insured event occurred and a fatal disease was diagnosed. I contacted the claims settlement center. About a week later I already received the insurance payment. Thank you, everything was fast and efficient. If you have any questions, you can contact your personal agent. They will explain everything and give advice. Thanks a lot. I recommend it to everyone, an excellent insurance company.

asn-news.ru 01/29/2019

Great Company! I recommend!
People always find time for bad reviews and skimp on good ones. It's a pity. The company's products are some of the best on the market. And there are no problems with payment. I have three contracts drawn up for myself, my husband, and my child. My colleague had an insured event, they helped me collect documents, the consultant explained everything correctly, and was always in touch. Paid within three days. The company is excellent, the people work well, I personally recommend it.

asn-news.ru 12.12.2018

Before meeting the consultant of the CAPITAL LIFE company, I did not know about the endowment life insurance program. I would like to note that my work (business trips) and my hobby (fishing, driving) are classified as risky. Today I not only have financial support in case of injuries and other things, but also money is accumulating like in a piggy bank. I would like to express my deep gratitude to the financial consultant of the company R.N. for her care, sensitive, reverent attitude towards my person, for providing assistance in shaping my goal, for her professionalism in the field of life insurance. Now I am confident that I can not only protect myself and my family from an unforeseen situation, but also create a financial reserve. Thanks a lot! I advise everyone to think about their future today! My name is Vasily, Nizhny Novgorod, contract No. ********* “Caring for the future “Comfort for adults”.

asn-news.ru 11/21/2018

Three years ago I bought a MARS policy. I insured my husband for his death for 50,000 rubles. Trouble came suddenly. My beloved husband died. I came to the office, wrote a statement, and what a surprise I was when they sent me money within the same day. I deposited 17,000 and received 50,000. Many thanks to the company for its help in difficult times.

Lyudmila Ivanovna

asn-news.ru 10/26/2018

Money management 360 - super product and service! In my opinion, this program contains everything that a person needs from insurance: protection, accumulation and investment income, in addition, as they explained to me (it is also written in the contract) - after the second installment I will be able to withdraw 60% of the deposited funds without terminating the contract ( Not a single insurance company offered me such conditions - only termination with loss). A nice bonus is the opportunity to receive a social tax deduction; I can add risks at any time.

banki.ru 10/19/2018

“CAPITAL LIFE contributions are always affordable and you don’t have to wait for discounts! Hooray!"

facebook.com 06/23/2018

“This is the first time I’m writing a good review, more often I have to write indignation... I couldn’t resist here. Thanks to the staff of CAPITAL LIFE, especially Ekaterina. My story is long, with a tragic ending(((. After the death of my mother, I found her “MARS” insurance for the funeral, received a payment for a day... The head does not work well in such cases, but the employee Ekaterina took upon herself all the documentation part (and payments, and the bank), all these sad troubles... Many thanks to everyone!!!”

krasnoyarsk.flamp.ru 05/17/2018

“On April 27, I wrote a post that the insurance company CAPITAL LIFE (RGS Life) terminated a lifetime insurance contract with me, allegedly for non-payment, although I paid regularly. The insurance was in case of death, so that the family would have something to bury me with. Therefore, I think you will understand my state when I learned about this sad event. It became even sadder because the funds I paid were irretrievably lost to me. Imagine my surprise when, in the evening of the same day, a company representative, Natalya, contacted me on Facebook and offered to help me solve my problem. A week has passed and everything has fallen into place: my contract remains in force! It's great when there are people like Natalya in the world. Thank her very much!”

"Hooray! I did it! I have been looking for a long time for an insurance company in which I would be interested in the conditions and opportunities! I thank Svetlana Lisafina for her professionalism, individual approach and ability to listen to the client. I took two programs. One of them is “Caring for the Future: Prestige” for children. As of today, my son and I are insured and are already preparing to enter the university.”

instagram.com 02/01/2018

“My mother was insured by CAPITAL LIFE under the MARS ritual program. On December 27, 2017, she died, and we were faced with a financial issue. I would like to express my gratitude to the company, which on December 30 transferred the money to the card in full in accordance with the terms of the agreement. In fact, when we are alive and well, we don’t often think about the seriousness of the moment of passing away. And we realize it only when this happens. The MARS program became our salvation. Thank you for the program and efficiency.”

In 2015, Russians paid more than 1 billion rubles for funeral insurance policies - such insurance involves the insurance company paying for the client’s funeral expenses. In the first three months of 2016, insurers' fees for this type doubled. Banki.ru looked into why the popularity of “funeral” insurance is growing and how they work.

Billion on the last journey

In 2015, fees under the ritual life insurance program amounted to more than 1 billion rubles, the Rosgosstrakh Life company told Banki.ru - in fact, this is the only insurer in the Russian Federation offering a life insurance service with a funeral organization service (small company Dostoinstvo, also offering a similar product, was deprived of its license on January 14, 2016).

The popularity of “funeral” policies is growing - premiums for 2015 are almost twice as high as in 2014, when the MARS funeral insurance program was launched, and in the first quarter of 2016, premiums exceeded 300 million rubles, which is almost one and a half times more than for the same period last year, Rosgosstrakh Zhizni clarified.

Such an insurance contract is valid for life, and the insured event is death for any reason, according to the program description on the company’s website.

“Under the terms of the insurance program, the insurance company can transfer a cash payment to the beneficiary or independently organize the provision of funeral services in the amount of the insured amount,” explains the insurer. The insured amount can range from 15 thousand to 300 thousand rubles, services are provided by a funeral company - a partner of the insurer, throughout the Russian Federation, regardless of the place where the contract was concluded.

Funeral insurance is designed, in particular, for pensioners and single people who do not have enough money to pay for a funeral, as well as for those who plan their expenses in advance and are financially responsible for elderly parents, according to the description on the company’s website. The policy can be taken out by a person aged 18 to 80 years.

Funeral insurance is in greatest demand among people 35-70 years old, Alexander Bondarenko, CEO of Rosgosstrakh Life Insurance Company, told Banki.ru. Regions are leaders in sales volumes: Krasnodar region, Sverdlovsk region, Mordovia.

The cost of such insurance varies greatly depending on gender, age and insurance plan option. Insurance premiums can be paid either as a lump sum, monthly, quarterly, semi-annually or annually.

“For a 50-year-old woman, a MARS funeral insurance policy for 100 thousand rubles costs 4,706 rubles a year,” Alexander Bondarenko gives an example. - Clients often choose to pay a one-time fee. For example, for a 50-year-old woman, a policy for 50 thousand rubles costs 21,348 rubles. This option is chosen by clients who already have money set aside for a rainy day.”

The growing popularity of “funeral” insurance in “Rosgosstrakh Zhizni” is explained by the fact that it “is in demand by the population and has established itself as a simple and reliable tool that not only guarantees a decent funeral organization, but also provides protection from ritual fraudsters.”

However, apparently, clients did not always buy such insurance consciously: for example, in November last year, the Chuvash department of the FAS revealed the fact that Rosgosstrakh was imposing a funeral insurance agreement upon the purchase of an MTPL policy. “The order was not issued to the defendant, since the branch terminated the life (ritual) insurance agreement with the car owner and returned to him the money paid under the additional life insurance policy,” the OFAS specified.

Who benefits?

Rosgosstrah Zhizni refused to disclose the statistics of payments for funeral insurance policies, noting only that “payments grow in proportion to the increase in the number of contracts concluded.”

“This may indicate that the insurer’s loss rate under this program is extremely low,” believes Banki.ru’s interlocutor in the insurance market. - If we are talking about an effective product aimed at a client, the cash flow should go in both directions, that is, there should be both fees and payments. And if the product is effective for one of the parties, then they are usually silent about the movement of the cache in the other direction.” In addition, if we are talking about people living alone, then relatives may not know about the existence of this policy, may not find it, and therefore may not apply for payment, the expert adds.

Life insurance contracts are multi-year, and it is wrong to draw conclusions based on one or two years of existence of such a product, argues Maxim Chernin, Chairman of the Committee of the All-Russian Union of Insurers for the Development of Life Insurance and General Director of Sberbank Life Insurance.

“The program was launched, for example, a year ago, and payments now may be at a fairly low level. But this doesn’t mean anything at all, it doesn’t say anything about the quality of the product: the product is perennial, and the results of it can only be seen on the horizon for at least 5-10 years,” he argues. - Very elderly people are unlikely to be accepted for insurance, or it will be with an increasing coefficient. And the 50-year-old buyer of such insurance, thank God, does not die at 51. This is a long-term instrument, and the product in question is generally lifetime, and payments on it will definitely occur sooner or later.”

The dark side of the "coffin" policy

Funeral insurance, like any other, may have a number of pitfalls, experts interviewed by Banki.ru note.

“This type of insurance simply duplicates the functions of the state, which guarantees citizens a social benefit - a certain amount of money for burial,” says Banki.ru’s interlocutor on the insurance market.

“The insurance rules for one of the program options also say that in the event of an insured event, the beneficiary must submit documents confirming the costs of the funeral, including the costs of paying for the provided guaranteed list of burial services in accordance with the current legislation of the Russian Federation,” says the chief insurance Banki.ru analyst Dmitry Zhukov. “From this wording it is not very clear whether expenses are compensated twice, or whether you need to choose where to go.”

Logically, this should mean that the relatives of the insured will receive payment from both the state and the insurance company, says Maxim Chernin.

“Life insurance is unique in that a client can insure himself with ten companies and all of them will be required to pay the insured amount upon the occurrence of an insured event, since there is no maximum cost of living,” explains Chernin. “This is the difference, for example, from property insurance and from comprehensive insurance - you cannot insure a car in two places.”

Dmitry Zhukov also draws attention to this nuance: in two of the three program options, if an insured event occurs in the first two years of the contract, payment occurs only in the amount of the premiums paid (that is, in fact, the money that the client paid to the company is returned), and only from the third year the full insurance amount is paid. “As with the purchase of any policy, it is important that at the stage of concluding the contract the client clearly understands what he has bought: what kind of product it is, what coverage it has and what exceptions it has,” sums up Maxim Chernin.

For Africans and migrants

Abroad, such insurance products are successfully sold in those countries where, for cultural and religious reasons, it is important to observe certain funeral rituals, which are quite expensive, says Maxim Chernin. For example, these are African countries.

“In addition, this type of insurance is popular in countries with a large number of migrants from Asian and African countries, for example in France, when a person, again for cultural and religious reasons, wants to be buried in his homeland in case of death. Repatriation of a deceased person is a very costly undertaking,” the expert adds.

Note that the South African government in early May announced plans to cancel the “funeral deductions” that went to local life insurers from social benefits, Bloomberg reported. Instead of deductions to insurance companies, the authorities plan to introduce state guarantees for paying for funerals, the agency writes.

Agents of Life and Death

In the Russian Federation, only one insurer is engaged in this type of business. For others, the main problem is finding a partner, since in Russia there is no federal network company providing funeral services, explains Oleg Kiselev, president of Renaissance Life Insurance Company.

“In each region there are many funeral companies, each of which needs to be negotiated and formalized as a service provider in order to provide burial services within the framework of the insurance program. This requires large costs to form a network of hundreds of partners throughout the country, as well as a physical presence in most localities in each region of the country due to the need to make payments as quickly as possible. Such a service will affect the high cost of the insurance program for end clients,” he explains. In addition, the end-of-life benefits from regular life insurance programs are sufficient to cover funeral expenses, the insurer adds.

In addition, the most effective sales channel is the agency one, Rosgosstrakh Zhizni said. And this can also explain the inactivity of other insurers in the ritual market. Such policies can only be sold if you have an extensive agent network, and among “life” companies only a few have it, explains Maxim Chernin. “Currently, 85% of life insurance products are sold through the banking channel, and selling ritual insurance in the mass segment through a retail bank is extremely problematic,” the expert argues. “This requires more time spent talking with the client, perhaps even introducing the agent to the client and his life situation.”

It is interesting that, in addition to insurance for the funeral itself, there are insurance programs for “cemetery property” on the Russian market. Thus, Uralsib Insurance recently launched a packaged product for insuring tombstones, which covers the risks of fire, explosion, natural disasters, illegal actions, robbery, assault, and also... collisions with other objects.

Along with a lifetime contract, funeral insurance gives you the opportunity to make decisions about your funeral during your lifetime. This practice is accepted in most countries of the world.

Having received an insurance policy, you will preserve and increase your funeral capital, receive protection from numerous risks of its loss, and are guaranteed to receive a reliable funeral agency in difficult times.

Funeral insurance programs will help:

1. preserve and increase funeral capital;
2. relieve the insured's relatives from paying for the funeral at their own expense in the event of his death;
3. do not waste time searching for a proven ritual service of urban subordination;
4. do not become a victim of black ritual agents by paying 2-3 times more for a funeral;
5. not to lose your funeral savings due to fraud and the actions of unreliable relatives;
6. guaranteed to have a decent funeral.

Reliable funeral service in 1 hour

In the event of the death of the insured person, notify the funeral insurance company (insurer) of the fact of death. Within an hour, a funeral service specialist from the insurer’s list of partners will call you and arrange with you for a funeral agent to come to your home. Discuss the details with him and draw up an agreement for funeral services and burial goods. A funeral service employee will protect you from black funeral directors who will appear at the door of your home.

The funeral service will conduct the funeral of the insured person at a decent level, without burdening the relatives of the deceased with additional expenses.

Avoid the risks of losing funeral savings

The funeral insurance program will help you avoid the risks of losing your funeral savings due to the actions of unreliable relatives.

In life, you cannot always trust your relatives with funeral savings. Under the funeral insurance program, you appoint a trustee who will become the beneficiary of your contract. It receives the insurance amount and arranges the funeral.

Advantages of funeral insurance:

• All categories of persons over 18 years of age are insured;
• disabled people of all groups and people with chronic diseases are insured;
• You can get insurance for any person;
• life insurance;
• Contributions can be paid for 15 years;
• You can choose options for programs and insurance amounts.

Conditions of funeral insurance

A voluntary life insurance agreement is concluded between the insured person and the insurance company.

The policyholder chooses the insured amount. There are different amount options:

For example, in rubles:

15000 / 25000 / 50000 / 100000 / 150000 / 200000 / 300000

You choose the amount of insurance, and the funeral agency will organize the funeral for the amount of your insurance.

What determines the amount of insurance payment?

The amount of the insurance payment depends on the time and cause of death of the insured.

1. If the death of the insured occurs before the expiration of two years from the date of signing the contract for any reason (except for an accident and a plane crash), you will receive money in the amount of the insurance premiums paid.
2. If an insured event occurs after two years from the date of conclusion of the contract or due to an accident or plane crash, you will receive the full insured amount.

3 options to receive the full sum insured:

1. you contact a funeral service, which acts as a partner of the insurer, and choose a funeral in the selected price category. You pay their cost, after which the funeral agency will organize the burial. With a set of funeral documents from the funeral service, you contact the insurer, who pays you the insured amount in full;
2. you contact the funeral service and order a burial for the amount of the insurance;
3. you come to the insurer with a package of documents, where you are paid the insured amount.

How to quickly obtain insurance for a funeral after the death of the policyholder?

Within 2 days.

What documents do you need to bring to the insurer to get insurance?

1. stamp death certificate;
2. passport of the deceased;
3. insurance certificate (policy);
4. receipt of payment for the certificate.

What determines the amount of insurance premiums?

The amount of insurance, the frequency of insurance premiums, the age and gender of the policyholder.

What determines the frequency of insurance premiums?

The choice is yours. Options: lump sum/once a year/month/quarter/six months.

Procedure in case of death of an insured person under the funeral insurance program:

1. the insured informs his trustee that he has a contract and that in the event of his death he must inform the insurer about this;
2. Along with the contract, you receive an insert in your passport. It specifies the contract data and the procedure for action in the event of the death of the insured;
3. the person responsible for the funeral contacts the funeral agency or the insurer and reports the name of the insured, the dates of his birth and death, and the contract number.

Within the insured amount, the funeral agency will provide the following services:

• will prepare documents for burial/cemetery/crematorium/morgue services;
• will provide funeral goods (coffin/urn) and accessories;
• will provide a place in an open city cemetery;
• will conduct the burial/cremation;
• will tell you how to receive benefits, suggest a place for a funeral;
• will install a temporary gravestone;
• will provide services for landscaping the burial site.

For all questions regarding lifelong funeral insurance, please call the 24-hour city funeral service Ritual.ru