Life insurance

mizfiesta

Right, straight to the point. If I die and have no savings or money, who pays for the funeral? My family are all skint to.

I've been thinking about getting life insurance but from what I've read that's more about leaving sums of money behind for family etc?

I'm not looking to leave money behind. I would just like something that pays all my funeral costs. Is there something suitable out there? I'm skint so don't want a pointless policy.

Ps I am 40, fit and healthy so no worries, just wondering,

vaio

Your estate pays and if your estate doesn’t have enough money to do so then the local council will pay

Skint (as in on benefits) friends and/or family can get a grant to bury you if they want

mizfiesta

So there isn't something I could set up for such an occurrence, so as to assure I have paid for it myself and isn't coming from anyone else's (including the councils) pockets?

lisyloo

You could get a life assurance policy, however if you have no money and savings then at 40 this should not necessarily be your first priority.

If you family have no money then they won't have to pay.

mizfiesta

lisyloo wrote: »

You could get a life assurance policy, however if you have no money and savings then at 40 this should not necessarily be your first priority.

If you family have no money then they won't have to pay.

I don't think I'm the only one out there who, at 40, doesn't have any money/savings. Surely that's why credit card spending is through the roof and why sites like these thrive?

Pete_the_trucker

If you contact your prefered funeral parlour it is possible to PREPAY your own funeral. This is far cheaper than waiting another 50 years for the inevitable.

lisyloo

I think you mis-interpreted my statement.
I wasn't judging you.

There are many financial priorities for each of us.
Do you think this should be your top priority? given that there are no consequences for anybody and your risk of death is relatively small?

Have you considered all your financial priorities and ranked them in order of priority.

mizfiesta

lisyloo wrote: »

I think you mis-interpreted my statement.
I wasn't judging you.

There are many financial priorities for each of us.
Do you think this should be your top priority? given that there are no consequences for anybody and your risk of death is relatively small?

Have you considered all your financial priorities and ranked them in order of priority.

Sorry lisyloo, I did misinterpret your comment. And yea I guess an issue like this is way down on my list of priorities.

It's been on my mind for a few months and since I cashed in an insurance endowment policy I had. It had run nearly 15 years. I took it out when I didn't really understand what it was - even back then I was just looking for a sum to pay for funeral expenses in case the worst happened!