It may so happen that the insured person has a contact with an agency that performs the last rites. The insurance company,in that case, has to pay the agency that perform the last rites of the insured person.
The excess amount, if any is transferred to the family members of the deceased. This insurance scheme is popular throughout the world.
The insured person has to pay a premium to the insurance company. Preneed (or prepaid) Insurance, thereby, fulfills the wish of the deceased who want to bear the expenditure of his/her last rites.
The innovative marketing strategy of the insurance companies are generating revenue for the insurance sector. The strategies are also catering to the delicate sentiments and emotions of the senior citizens.
The life insurance policies are generally purchased at a young age. The insurance sector, by its business acumen, is able to tap the needs of the old people.
Preneed (or prepaid) Insurance is a novel insurance policy that is popular among the old people. The buyers of Preneed (or prepaid) Insurance are the old people.
A lot of other insurance policies are available that cover the life of the insured.
The insurance policies deliver the insured money to the family of the deceased.
Death due to accident is also covcered by the insurance policies.
The old people often are deprived of love and care by the members of the family. This creates a void in the life of the old citizens.
They want to bear the expenses of their last rites without bothering the family members and the relatives.
Preneed (or prepaid) Insurance aids these people,who can fulfill their last wishes.
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