In certain situations it might be useful to be able to determine future events before they happen and make the necessary alterations/arrangements to your life’s path prior to said event taking place.
Think for example of passing your all-important exams to ensure you get that university place you crave. Or passing the driving test that will give you the freedom you desire. Or go on that first date which will blossom into the perfect romance. Or play the lotto on this one occasion as you’ve got more than just a hunch.
But of course back in the real world we haven’t got the luxury of clairvoyancy, nor have we got ready access to a time-travelling police phone box; whilst predictive sports almanacs really only belong in Hollywood blockbusters.
The thing is some things are inevitable and don’t require forecasting. Like taxes and our own demise, according to that old adage; both of which are inescapable facts of life for pretty much everyone on the planet.
That said most of us are unaware of the precise time and place where we’re destined to meet our maker. Having said that, if we were we would make the effort to ensure that everything was prepared, at least financially (if not emotionally) for the biggest of big send offs. The last thing we want would be for our surviving family members (or indeed, children) to have to stump up for funeral costs, especially as they continue to spiral year-on-year. Which goes to some lengths to explain exactly where pre-need insurancecomes into play. That’s right, pre-need insurance policies.
Arguably one of the most important insurance policies you’ve never heard of (although big in America, it’s probably headed this way sooner or later). And for those of you aware of its very existence, you still may not understand what it does or moreover how it does what it does. A bit like electricity in some ways. It’s all around us but we haven’t got the foggiest just how it got there, where it comes from and quite how it powers out kettles. But don’t worry, as we’re here to put you in the picture as to what pre-need insurance is and how it might benefit you and your family sometime in the future. So we suggest you read on……
What is pre-need insurance is?
Well, essentially, it’s a type of life insurance policy which covers the insured party for the cost of expenses which quickly accumulate once they/people generally pass on (i.e, funeral home services, church expenses, floral arrangements, cremation and/or burial, the wake, headstones, etc…). All of which are typically pre-determined, financially-speaking.
In a nutshell the predominant purpose of pre-need is to offset the costs historically associated with the death of an individual. And ostensibly to set aside the necessary funds BEFORE the need arises, therein protecting loved ones/nearest and most dearest from having to fork out, whilst at the same time safeguarding the accrued financial assets belonging to the deceased.
A big deal in America and elsewhere in the world, it’s still worthwhile knowing what’s what, as pre-need insurance might well be more readily available here in the UK one day soon.
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