What is an accelerated funeral benefit?

It may come as a surprise, but a life insurance claim can often take up to a few months to pay out.

So what about the funeral costs? Well, you could take a funeral plan, or if offered by the insurer you could get an accelerated funeral benefit as an add-on to your life policy.

The accelerated funeral benefit will pay out a portion of the full benefit prior to any investigation and can be as quick as 24 hours from receiving all the required documents.

The full benefit will pay out less the funeral benefit once the claim has been assessed.