In July 2008 Pinnacle Life launched a policy called ‘Funeral Cover’.
Whilst the product is designed essentially for people over 50 (and many insurers call it ’50 Plus Insurance’) it’s available online to anyone aged 30 to 69.
What surprised us is the proportion of people in their 30’s and 40’s that have purchased Funeral Cover- clearly the product’s hitting the mark with Generation C… so to speak!
How does it work?
The entire application process takes around 5 minutes… after which you’ll have a policy covering your funeral for $5k, $10k, $15k or $20k. And the premiums offered for these cover amounts and for this type of product are the lowest in NZ.
Best of all, being a ‘guaranteed issue’ product, Funeral Cover is offered with no health questions asked, and the policy is emailed to you immediately online.
And not only do the premiums stay the same every year, but once you turn 85, you totally stop paying - and your cover continues free of charge until you, ahem, expire.
And the extra bonus?
Your family will say great things about you at your funeral. See these ads from YouTube…
(It’s ironic that this latter video was the last advertisement directed by a popular Malaysian movie director, Yasmin Ahmad, who died soon afterwards of a stroke aged just 51…)