Five Commonly-Asked Questions About our An Post Insurance Funeral Insurance
It’s not always easy planning for the future but An Post Insurance is here to help so you can get on with enjoying the present. Our Funeral Insurance cover aims to give you the peace of mind you need to prepare financially for the cost – or part of the cost – of your funeral. We’ve put together five of the most commonly-asked questions about our Funeral Insurance to help you get the peace of mind you need.
How long am I covered for on this Funeral Insurance product?
Providing payments are kept up to date, cover is for whole of life. Premium payments cease once you turn 85 but you are covered until death*.
How much does the cover cost and what are my payment options with this Funeral Insurance product?
Your monthly premium is based on the age you commence your policy and the level of cover you choose. For example, a 50-year-old paying a premium of €15 per month (including Government Levy of 1%) would be assured for cover for €4,700*. The total premiums paid over the term of your policy may exceed the death benefit.
Premiums can be paid in monthly instalments by direct debit or by BillPay in your local Post Office.
How is the pay-out handled on this Funeral Insurance product – how does my next of kin get the funds?
On your passing, whoever is looking after your affairs should contact New Ireland Assurance Company plc Claims Department on 01 632 2436. They will need to provide the department with the policy schedule provided at set-up, proof of their identity, your birth and death certificates and marriage certificate if your name has changed since the policy was set up. A short claim form will then be sent by New Ireland. Funds can be paid directly to the relevant Funeral Home if they submit the invoice for same*.
*In the event that your death takes place before the second policy anniversary, your beneficiaries will receive a sum equal to the amount you have paid into the policy at that time. Your family can claim the full lump sum payment if you die after the second policy anniversary.
How much does a Funeral cost on average?
Funeral costs can vary depending on location and one’s choices and needs. Fanagans.ie state that “these costs are dictated by the individual family requirements and can vary from €1,750 to €7,275 and upwards”, but don’t forget, prices can vary and change and you should do some research in your area before deciding on the right level of cover for you.
What does the Travel Accident benefit on the An Post Insurance Funeral Insurance product cover ?
If the life insured has an accident as a fare paying passenger, as a pedestrian or when travelling in a private car or by road, rail, sea or air and dies as a result of the accident within 3 months, if all premium payments have been made and kept up to date, your next of kin will receive double the sum assured.
Acceptance criteria terms and conditions apply. An Post Insurance is a tied agent of New Ireland Assurance Company plc for life assurance business. Life assurance policies are underwritten and provided by New Ireland Assurance Company plc. New Ireland Assurance Company plc is regulated by the Central Bank of Ireland. A 1% Government levy applies to all premiums paid.
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