theres this statistics site in which they break down the insurance into enthusiasm insurances and non life insurance and other insurances i be just wondering where on earth burial insurance comes to place? Because im not sure if its counted as a life insurance because enthusiasm insurances are those in where on earth you die, your beneficiaries get money whereas burial insurance is if you die, interment/burial expenses will be shouldered by the insurance company. So im jjust a bit confused, does this count as life insurance?
Answers: Burial insurance, mortgage insurance, possession insurance, cash plus insurance, call them what you want, they are adjectives life insurance. A being could make their estate, their funeral home, or their spouse the beneficiary, it doesn't concern, the insurance company, when you die with a policy within force shoulders the responsibility or shells out the cash to the beneficiary.
It depends who you buy it from. If you buy a roll of services through some funeral home or company, it's not insurance, it's pre-paid services. Insurance can be purchased from an entity licensed to sell insurance.
Answers: Burial insurance, mortgage insurance, possession insurance, cash plus insurance, call them what you want, they are adjectives life insurance. A being could make their estate, their funeral home, or their spouse the beneficiary, it doesn't concern, the insurance company, when you die with a policy within force shoulders the responsibility or shells out the cash to the beneficiary.
It depends who you buy it from. If you buy a roll of services through some funeral home or company, it's not insurance, it's pre-paid services. Insurance can be purchased from an entity licensed to sell insurance.