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How many family members will be covered by my funeral policy?
Key takeaways
- Each additional life covered on your funeral policy costs you more in premiums.
- Adding family members over the age of 60 can make a big difference to premiums.
- Every family member insured must be listed on the policy.
Funeral policies can potentially be used to cover your very extended family.
Some life companies only offer cover for your immediate family, such as your spouse or life partner and children, and charge more if you want additional family members covered. Others offer cover immediately for anything from 20 to 32 people.
Some even offer cover for non-blood relatives, such as a child you care for or a domestic worker.
Funeral cover for extended family costs
Funeral insurers use the number of lives covered on their policies to market them to you but you should bear in mind that each additional life covered comes at a cost and the costs can vary wildly between companies.
A policy offering all policyholders cover for more than 30 family members may be more expensive for you if you have a small family.
If you are adding family members who are over the age of 60, the costs can escalate. Or if you are only insuring younger family members, but you take out cover on a policy priced for all ages, your premiums may be higher.
Remember all insured family members must be correctly listed on your policy document to be covered.
