Insurance Blog

Why Smart People Choose Funeral Services through Insurance: A Tale of an Indian Professional in Frankfurt

Deepu Verma

17 February, 2024

Introduction

Talking openly about funeral, cremation or burial is deemed a taboo in India despite of the fact that the only constant in a human being’s life is death. Westerners have learned this fact from our ancient traditions and are aware about the fact that instead of ignoring this vital truth, it’s better and wise to plan for it.

Some of client’s have also realised it and today we are going to discuss a story to establish that Funeral Insurance or cremation insurance is the smartest choice you can make during your lifetime to make the life of those who are left behind, easier.

The Story Begins

Let me take you to the heart of bustling Frankfurt, where the financial district meets the historic old town. In the same city, there exists a community of expatriates from diverse backgrounds. Among them is Rajiv, an Indian man hailing from Noida, who found himself navigating the intricacies of life in Germany. Little did he know that his journey would lead him to a profound realization about the importance of funeral services and the role insurance plays in securing a dignified farewell.

The Onsite Project and Cultural Shifts

Rajiv, an IT professional, was assigned to an onsite project in Frankfurt. His days were filled with code, deadlines, and the occasional Spätzle (German macaroni and cheese). But amidst the work-related challenges, he encountered a cultural shift—one that made him ponder life’s inevitable end. The Germans, pragmatic and forward-thinking, openly discussed funeral arrangements. It was a stark contrast to the hushed tones back home in India.

The Wake-Up Call

One chilly evening, Rajiv attended a colleague’s funeral. The sombre ceremony left an enduring mark on him. He realized that death doesn’t discriminate—it touches everyone, regardless of nationality or profession. As he stood by the graveside, he wondered about his own preparedness for such an eventuality. Would his family be burdened with funeral expenses? Would they know how to navigate the process in a foreign land?

The Role of Funeral Services

Funeral services serve a vital purpose beyond bidding farewell. They provide closure, allow grieving families to honour their loved ones, and facilitate healing. Rajiv learned that a well-organized funeral not only respects the departed soul but also supports those left behind. It’s a communal acknowledgment of loss, a shared moment of grief, and a step toward healing.

Why Smart People Choose Insurance

Rajiv’s research led him to explore funeral insurance. Here’s why smart people, like him, opt for this financial safety net:

Global Mobility: For expatriates like Rajiv, funeral insurance transcends borders. Whether you’re in Frankfurt or your hometown in India, the policy remains valid. It’s a comforting thought, especially when faced with the uncertainty of life abroad.
A Posthumous Gift: By pre-planning funeral arrangements, individuals ensure that their wishes are respected. Funeral insurance allows you to specify your preferences—from cremation to burial, from hymns to eulogies. It’s a gift to your family, sparing them the emotional burden of making decisions during a difficult time.
Financial Security: Funeral expenses can be substantial. Insurance covers costs related to the funeral, including transportation, caskets, cremation, and memorial services. It ensures that your family isn’t left scrambling for funds during their grief.

It’s the inclination of people who believe in pre-planning everything wisely that India falls under the fastest-growing funeral insurance market. Now, it isn’t just a coincidence, is it?

Source: Grand View Research

The Last Journey

Rajiv chose a comprehensive funeral insurance plan from a trusted provider and opted for Last Journey as the primary cremation services provider in his policy. Their services include body transportation, freezer services, cremation, antyeshti puja services, hearse services, and much more. The team at Last Journey sent confirmation that Rajiv’s preferences were documented and ready to be executed whenever the need arose.

Statistics and Market Insights

The global burial insurance market was valued at $142.9 billion in 2022 and is projected to reach $370.1 billion by 2032, growing at a CAGR of 10.3% from 2023 to 2032.
Cremation insurance, also known as funeral insurance or final expense insurance, is designed specifically for final expenses. It typically offers a whole life insurance policy with a small death benefit (e.g., ₹25,000 to ₹2 lakhs) to cover funeral costs and other end-of-life expenses.
Factors driving the growth of the burial insurance market include an aging population, rising funeral costs, and increased awareness and marketing efforts by burial insurance providers.
Ease of access, affordability, and flexibility make burial insurance an attractive choice for individuals planning ahead for their final journey.

Conclusion

As Rajiv continues his work in Frankfurt, he carries the wisdom of the Germans—their pragmatic approach to life and death. Funeral services through insurance have become his safety net, a way to honor his loved ones and ease their burden. Smart people, regardless of nationality, recognize that planning for the inevitable is not morbid; it’s a compassionate act toward those we leave behind.

So, whether you’re in Noida or Frankfurt, consider funeral insurance. It’s not just a financial investment; it’s a gesture of love and foresight. Because, as Rajiv discovered, even smart people need a safety net for life’s final journey.

Disclaimer: The characters and events in this article are fictional, but the insights are based on real-world experiences and research.