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My Mum Sadly Died The Other Week, She Had A Basic Life Cover For Funeral Expenses... Not Enough To Cover! Why?

Term Life Insurance & Whole Life Insurance Discussion

My Mum Sadly Died The Other Week, She Had A Basic Life Cover For Funeral Expenses... Not Enough To Cover! Why?

Postby Hesutu » Tue Oct 10, 2017 4:12 pm

She had the basic cover from Prudential insurance, she had been paying in to it for abt 30yrs a a rate of abt £15-£20 PM

My sister has delt with all the arrangements, mum had a Crematorium service, a wake for 30people, and a ashes burial at my late Fathers Grave, this cost £80 from the local council.

Now my sister says their isn't enough for an inscription on my Fathers stone and we have to pay, So there is no second stone to buy.

Why isn't there enough to cover as mum always wished for?

I dont mind paying extra if it really comes to it as ive another sister so it will go 3way's.
Hesutu
 
Posts: 54
Joined: Fri Jan 10, 2014 11:24 am

My Mum Sadly Died The Other Week, She Had A Basic Life Cover For Funeral Expenses... Not Enough To Cover! Why?

Postby MaeAdam » Tue Oct 10, 2017 5:55 pm

When you buy an insurance policy, you buy a set amount of coverage. Due to inflation, an insurance policy needs to be reviewed at least once per year with your agent to see if you need to adjust coverage for inflation. The insurance company pays the beneficiary (your sister) a set amount when the policy holder (your mother) passes. If she bought the policy 30 years ago, chances are she only bought a policy to cover the average cost of a funeral at that time.
MaeAdam
 
Posts: 51
Joined: Sun Feb 02, 2014 4:22 am


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