No one likes to think about their own mortality, but the fact is that death is a natural part of life. And while we may not like to think about it, making preparations for our passing is an important responsibility that we owe to ourselves and our loved ones. One of the best ways to do this is to take out funeral insurance. Here’s why you should consider funeral insurance in your 50s.
- Funeral costs are rising. The average funeral in New Zealand now costs between $7,000 and $12,000. And if you want a more elaborate send-off, you could be looking at expenses of $20,000 or more. Even if you have life insurance, it may not cover the entire cost of your funeral. Funeral insurance can help fill in the gap so your loved ones are not left with a hefty bill.
- You never know when your time will come. Any number of things could happen that would cause your death, and it’s impossible to predict when that might be. If you wait until you’re closer to retirement age to take out funeral insurance, there’s a chance you could die before the policy kicks in. By taking out funeral insurance in your 50s, you can ensure that your loved ones will be taken care of financially no matter when you pass away.
- It’s affordable. When you’re in your 50s, you’re likely still working and bringing in a regular paycheck. This means you can afford to pay for funeral insurance without having to worry about how it will impact your budget. In fact, the younger you are when you take out funeral insurance, the less expensive it will be.
No one wants to think about their own death, but it’s an important part of life nonetheless. Taking out funeral insurance is one of the best ways to prepare for the inevitable and ease the financial burden on your loved ones when you’re gone. If you’re in your 50s and don’t have funeral insurance yet, now is the time to start considering it. It’s affordable and will give peace of mind knowing that your final expenses are taken care of should something happen to you sooner than expected.