The funeral costs an average of €3,500 in France. To spare your loved ones the cost of your funeral, there are funeral insurance contracts. The subscription to this type of contract allows the constitution of a capital to finance your burial. But a question frequently arises: what about the waiting period of a funeral contract? Death by accident or illness, what’s the difference? Is it possible to take out funeral insurance without a waiting period? Stay tuned for answers to your questions.
What is the waiting period of a funeral insurance?
Most organizations (bank, mutual, insurance) apply a waiting period to their insurance product and in particular their funeral insurance contract. This legal period allows insurers to protect themselves against possible abuses and false declarations of the subscriber’s state of health. Note also that the medical questionnaire is not a systematic prerequisite. Some companies do not ask for it.
The waiting period is the period during which your loved ones will not be able to benefit from the effects of your funeral insurance contract. The capital is blocked, unless a one-time payment cancels the waiting period. Only your contributions can be returned (clause to be checked in the contract).
How long is the waiting period for funeral insurance?
Like all selection criteria, the waiting period depends on each insurance company, bank or mutual. Duration set freely, the waiting period varies according to the organizations from a few months to 1 year or even 2, and even 3 years. But if this criterion is an obstacle to your subscription, online comparators help you find offers without waiting period or with a very limited period.
The waiting period in the event of death by accident or illness, what is the difference?
The waiting period also depends on the circumstances of the death. It differs or even cancels if the death is the result of an accident or illness.
By definition, an accident is unpredictable. As a result, no waiting period is in principle applied in the event of death by accident. The capital is paid to relatives even with a waiting period still in force. For a death by illness, the waiting period applies to the conditions set prior to the signing of your funeral contract. Everything depends here too on the disease contracted: brutal or predictable depending on symptoms prior to the signing of the contract.
The causes of death (accident and illness) and their applicable waiting periods are the subject of a specific article in the general conditions of your funeral insurance contract. Ask for explanations before signing the contract.
How to obtain a funeral insurance contract without a waiting period?
When you subscribe to an insurance product and in particular funeral insurance, the waiting period is a decisive criterion. Many of you are looking for funeral insurance contracts without waiting period. Some organizations propose this clause. To find these offers, the most suitable solution remains the online comparator. 100% free and very fast, you get in just a few minutes proposals that meet your selection criteria, including funeral insurance without waiting period.
Even though most insurers offer funeral insurance contracts with waiting period, you can also negotiate the best contracts without a waiting period with the help of a specialized broker. You can also direct your search to organizations that offer very short waiting periods of 1 to 3 months. These shortened deadlines are very interesting alternatives with very attractive prices.
What parameters should be taken into account when taking out funeral insurance?
Even if the waiting period is a criterion of choice during your selection, we advise you to analyze other parameters before choosing your funeral insurance. Among the parameters to study, you find:
- Management fees: withdrawn from the capital, they are sometimes exorbitant and sometimes close to 30%.
- The amount of contributions: they sometimes vary upwards with the age of the subscriber.
- The deadline for payment of the capital to relatives.
- The reimbursement of contributions in the event of premature death before the end of the waiting period.
Study the exclusions of a funeral insurance contract
Another parameter to consider and read carefully concerns the exclusions of coverage appended to funeral insurance contracts. Suicide, drugs, alcohol are all causes of death not covered by organizations. Similarly, an undeclared illness, occurring before the signing of your contract, will often be excluded from coverage.
Finding a funeral insurance contract without a waiting period is quite possible with the help of an online funeral insurance comparator or an insurance broker. Like any insurance contract, it is recommended to analyze the general conditions of the contract before subscribing to a funeral insurance offer. Also remember, in addition to the waiting period, to check the payment period of the capital. Generally increased to 48 hours, make sure that your loved ones benefit from the payment as soon as possible in order to organize your funeral according to your wishes.