There are many repatriation companies that offer repatriation services all over the world. One should not worry about repatriation services now for we do not know when and where death will happen. Death can happen at any time and anywhere. Repatriation companies will always be there, and new players will join the market in the future. Taking a cash cover today will guarantee you the flexibility of choosing the most suitable repatriation services company to suit your budget. It is essential that one’s policy speaks to their needs and reality. Treating customers fairly means that the policy should meet the policyholder’s needs. It should be suitable for today, tomorrow, in the short-, medium-, and long-term.
Changes in policyholder circumstances, such as location or personal preferences, should never change. A funeral policy like the Diaspora Funeral Cash Plan provides policyholders with more certain future value. It is uniquely different in that it provides immediate financial assistance for the bereaved family. The cash is paid within 24hrs of proof of death and there are many reasons why a funeral cash plan is always a better cover:
So what are the benefits of a funeral cash plan?
Having cash cover is compared to traditional funeral policies where the policyholder is tied to a particular funeral directors’ firm and given goods and services on claim. Receipt of benefits also assumes that the policyholder dies within the funeral director’s reach.
- Worldwide Protection Without Borders
Funeral cash plans are excellent because cash knows no borders. A cash-based policy like the Diaspora Funeral Cash Plan pays out the hard currency of choice immediately on proof of death. This guarantees the policyholder and their loved ones a dignified send-off no matter where death happens. In a funeral director goods and services policy, it is assumed that a person should die where they are reachable. However, the reality is that a funeral policy holder’s location is fluid overtime. This means that they cannot be served by a policy that assumes that one is located locally to access the goods and services.
2. Cover value certainty
A goods and services policy also assumes that a policy holder can make a final choice upfront even if they die decades later. One of the biggest complaints about traditional funeral policies that provide goods and services is that policyholders always get asked to top-up to access better value goods and services on claim. The requests to top-up by funeral directors always leave bereaved families out of pocket at a time when their policies should serve them. This is because, over time, the services or goods a policyholder pays for change to the point one can’t even tell what they are paying for. At the point of claim, bereaved families find themselves with lower-end packages forcing them to top-up for better value. By buying some services, or say a casket, years in advance there is a chance it will get out of fashion, or it becomes outdated if the policyholder is blessed with longevity. With cash cover you know exactly what your policy gives you. With a policy like the Diaspora Funeral Cash Plan which is hard currency only cover, long-term value is hedged against inflationary loss of value and currency volatility. This also gives a better idea of what the policyholder will get on a claim. Overtime, the bulk of the claimants also get cash settlements that a far higher than the total premiums that they will have contributed.
3. Flexible and Versatile Cover/ Not tied to one provider
The reality is that the funeral director’s policy provider may not be able to serve you if you die out of their reach or may not be the most appropriate provider at the time of the claim. The biggest single shortcoming of traditional funeral policies is that they are very rigid. This leaves the policy holder tied and restricted to one provider. You are literally stuck with the cover provider and the assumption is that one is born locally, lives locally, dies locally and gets buried locally. Unfortunately, that is far from reality and many people have lost their coverage due to international relocation. With a cash-based policy like Diaspora Funeral Cash Plan, one is assured that cash is king; as it gives the policyholder flexibility on claim to choose the best provider.
4. Related Funeral Expenses
A funeral director’s goods and services policy usually leaves bereaved families with uncovered funeral expenses. The reality is that over and above coffins and transportation there are certain funeral expenses that traditional funeral insurance ignores, and they cause serious financial challenges for bereaved families, and these include things like food, drinks, utility bills, church service, family travel, probate costs, memorial service, tombstone and unveiling ceremony. Funeral Cash Plan is highly recommended because this type of cash policy can cover everything and possibly a family holiday after the funeral. While struggling through a bereavement, many people lose income because they can’t work. It’s a huge opportunity cost. With proper cash policy, one literally covers everything including household bills that may pile up during the funeral.
5. Transnational Cover for Transnational Citizens – Location, Preferences and Choices are fluid –
Today’s average person is a transnational citizen who belongs to more than one society or nation. Transnational citizens’ protection needs require a suitable cover that speaks to their reality is equally transnational. This is like the Diaspora Funeral Cash Plan. As a global citizen one may end up in a situation of burial abroad, repatriation, reverse repatriation, cremation and a funeral policy that is suitable. Treating customers fairly should be versatile enough to meet any changing needs. Our lives today are in an era of regional integration and globalisation. It is a global village. This makes people’s location choices and preferences fluid either by choice or by default. When your location or preferences for your final resting place change, your funeral policy should always be versatile enough to adapt.
6. Use Of Claim Money Not Restricted
A funeral cash fund can be used for anything, including body repatriation, burial abroad, cremation, reverse repatriation, household bills, family travel, food and drinks, probate bills, holidays after the funeral, and memorial service for the tombstone.
7. Diaspora Children Will Not Talk About Repatriation
This is a big reason to keep your funeral policy cash denominated. Whilst first generation migrants may be fixated about repatriation, children are more confined to where they grew up and may never be repatriated. Cash means they can choose anything and be anywhere in the world as they grow in their careers, and they will still be covered. A policy that treats customers fairly, such as the Diaspora Funeral Cash Plan, covers children for life without having to worry about them being removed.
Whether you relocate or travel on holiday, cash knows no borders, so your cover remains the same. There is no risk of losing your policy or being offered a meaningless cash equivalent by a funeral director. Right now, there is serious labour shortages in developed countries. Millions are recruited and relocated with their families, leaving behind funeral policies for years. If those policies were cash-denominated, relocating policyholders would not lose anything because cash knows no borders and therefore is worldwide coverage. Repatriation or Reverse Repatriation, Burial Abroad, Cremation or Missing Person Presumed Dead, By the time one passes away any of these outcomes are possibilities. The choice is yours, and your cash policy covers reverse repatriation to your diaspora country. The fundamental value in cash-based funeral policies makes it imperative that in the future all funeral policies are cash denominated and bereaved families buy goods and services from the most trusted providers, funeral directors at the point of need. Cash-based policies treat customers fairly.