Funeral Expenses Insurance

[Bongtrees]

Does anyone have links to companies offering this, preferably paying premiums annually and fort cheap no frills type. Thanks

[katy]

Run some checks on the company before you part with any money. Some tend to "Die" before you

[pigs-might-fly]

With interest rates as they are, it may be better off to buy a single premium or monthly payment, whole life insurance.

[Babby]

Burial insurance - the 2 main companies are OCASO and SANTALUCIA. For a person in mid fifties, the monthly premium is about 15 euros and you are covered from day one for all the costs, even if you have only made one payment.

Burial insurance is different from life insurance, you don´t get a lump sum. What gets paid for is the a personal agent who runs around for you arranging everything, all the paperwork, the tanatorium, the coffin, 2 huge wreaths with messages, the church, the hearse, tombstone engraved as family wishes or cremation. Its a great service for the family of the bereaved and it takes the stress of arranging it away and lets face it if a loved one dies its difficult to cope with normal daily activities let alone arranging everything in 24 or 48 hours. If family have to come from abroad they will delay the funeral for up to 5 days.

[MrsP]

Try www.sierrainsurance.bravehost.com

[gretch]

We paid €250 this year for the two of us, 58 & 60 years old. The only thing is, it only covers a funeral in this country.

gretch

[peteroldracer]

Why on earth would you want to fly dead bodies round the world? Get the b*gger burnt, then post the ashes to the UK in a Jiffy Bag - that should sort out a few of the thieves in the postal services of certain countries!

[pigs-might-fly]

We paid €250 this year for the two of us, 58 & 60 years old. The only thing is, it only covers a funeral in this country.

gretch

You'll have to make sure you pop your clogs here, then!

[gretch]

Yes I’m with you guys, I live here, I’ll die here (probably), I’ll be cremated here.
It’s just that some people my wish to be sent back to the UK, for whatever reason, and therefore, when arranging funeral insurance, this will have to be taken into account.

gretch

[Beachcomber]

As someone has already said, pay the money into a high interest bank account. That way you can be reasonably sure that it will still be there when the time comes and that someone has not run off with the proceeds.

[Bongtrees]

We paid €250 this year for the two of us, 58 & 60 years old. The only thing is, it only covers a funeral in this country.

gretch

I see no point in purchasing a plan that is country specific unless it includes cover for repatriation.

None of us can chose when and where we die and as ex-pats will probably take trips out of the country at least once a year the best bet would seem a small whole of life insurance plan or stick a lump sum in a building society somewhere.

The Spanish funeral industry appears to be a cartel.

I felt very uncomfortable when I discovered that they use the same wreaths for several funerals.

I own a bluebell wood in the UK. We will end up there.

[peteroldracer]

Is it not true that you must be careful where you put money that might be needed in the event of a death? I have heard that if your OH dies and you have a joint acount in Spain, before you shed a tear or tell anyone, go to your bank or an ATM and get a wedge of cash out, as the account will be frozen as soon as the death is notified.
In the UK, it is relatively straightforward to start the probate process, and even before that is granted an executor can get any good bank to pay legitimate bills in the name of the deceased account holder direct to the business, e.g deposits on venues for funeral teas, household bills etc, but I hate to think what it could be like here, especially if you run up against a 'jobsworth'!
Going by the experiences we have had following my OH's mother's death, there could be a plane-load of money-grubbing relatives expecting to get a week on the Costa courtesy of the estate to attend the funeral!

[pigs-might-fly]

Another precaution - Arrange powers of attorney in favour of each other, plus a trusted family member, (in case you both die at the same time!).
It's then easy to flog your joint assets & convert to readies!
Obviously, the purists will remind us that a power of attorney ceases at the death of the granter - but hey who's to know in the immediate future?

[gerryh]

I have heard that if your OH dies and you have a joint acount in Spain, before you shed a tear or tell anyone, go to your bank or an ATM and get a wedge of cash out, as the account will be frozen as soon as the death is notified.

You can have all your money in a joint account and when one of you dies the other one goes to the bank, opens an account in their own name and transfers all the money into their own account.Then tell the bank that your partner has died and the joint account, with nothing in it, will be frozen.
You can set up separate individual accounts in advance if you want to.
This advice was given to me by a very reliable source, my bank manager.


Cheers
Gerry

[gretch]

We paid €250 this year for the two of us, 58 & 60 years old. The only thing is, it only covers a funeral in this country.

gretch

I see no point in purchasing a plan that is country specific unless it includes cover for repatriation.

None of us can chose when and where we die and as ex-pats will probably take trips out of the country at least once a year the best bet would seem a small whole of life insurance plan or stick a lump sum in a building society somewhere.

We get repatriated back to Spain if we're out of the country

[pigs-might-fly]

Frankly, once I'm dead I couldn't give a toss what happens to my empty shell - you could toss it in the basura for all I care!

[katy]

So...does this mean that if one had POA for the OH it would be possible to sell the property and not declare them dead, thus avoiding inheritance tax

[Beachcomber]

In theory, yes. However, it may prove to be a rather dodgy procedure if the death occurs in Spain or if someone who stood to inherit finds that this has been done.

I understand that even if a joint account is frozen the bank will release funds for the funeral.

[peteroldracer]

the bank will release funds for the funeral.

S0d the funeral - I would be more concerned as to how I would eat & drink (as opposed to eat, drink and be merry!).
Mercadona do not offer a slate, as far as I know!

[Beachcomber]

That's why the expedient thing to do, as others have suggested, is for the surviving partner to open a bank account in his/her own name and transfer all of the funds to it.