The sand in the hourglass might have run out for you, but it is not the end. Funerals are complex things that never seem to go quite as anticipated. Mostly, it seems, this is so because we assume everything had been taken care of somewhere along the line and we do not (want to?) take a closer look. Many funeral policies claim that you will receive a payout within 24 to 48 hours. What you may not realise is that it does not mean from the minute your Dear One departed.
Each insurer will present their products in such a way that it highlights the advantages of their products. However, there are always trade-offs and these are not always made explicit. It is a balancing act. In order to provide you with certain benefits, others have to be cut, limited or made available as expensive add-ons. It is a matter of which sacrifices are more acceptable to you.
The recipe used by the majority of insurance companies is one which enables the agent (called a seller) to earn a commission for each policy sold. This is how they make their money so that they can eat. This commission is paid in differing amounts – the first helping is the biggest, followed by regular, smaller ones for the duration of the lifetime of your policy.
For instance, if a short-term insurer promises the cheapest rates for cover, clients could be tempted to sign up without realising why their premiums are lower. Continue reading “Cheaper is not always better”