A funeral expense policy does not demand much attention – but it does deserve fifteen minutes a year. The anniversary is the natural occasion for this: it is when the insurer's letter arrives, and when the direction for the coming year can be decided.
- The anniversary letter is the starting point: the current sum insured, the premium, and typically the indexation offer.
- The four checkpoints: sum insured versus reality, the beneficiary, your details, and premium payment.
- For a major change in life, there is no need to wait for the anniversary – it is worth looking at things when the change actually happens.
Reading the anniversary letter
The insurer's anniversary notice brings three important pieces of information: the current sum insured, the current premium, and – where indexation is offered – the proposed increase, with a deadline for reply. The indexation decision is the most important point in the letter: accepting it keeps the sum insured in line with prices, while repeated refusal quietly erodes its value over time – the details are in the indexation article. If the letter does not arrive, that is itself a signal: most likely a change of address was never reported.
The four points – in fifteen minutes
Sum insured: mentally compare it with today's local cost of a farewell – if it feels like it has fallen behind, ask for a calculation. Beneficiary: is the named person still alive, reachable, and the right choice – and do they know about their role. Details: address, phone number, email, account number. Premium payment: are the payments running smoothly, and is the frequency still comfortable. The tick-box version: the annual checklist – genuinely fifteen minutes.
When is this more than fifteen minutes?
If the sum insured has fallen materially behind prices: besides accepting indexation, an increase in the sum or a supplementary solution may be worth considering – this deserves a conversation together. If your family situation has changed (divorce, a death, a birth): updating the designations and the beneficiary notification are also due. And if the premium has become a lasting strain: the sooner we talk about it, the more options there are – this is covered in a separate article.
The routine, with me
For my clients, I carry out the anniversary review on request, or when it's warranted: we go through the four points together, and if there is anything to do, we get it started. The fifteen minutes are a conversation this way, not administration – and as a side effect, the family folder and the wishes list stay up to date too. The anniversary is not an obligation but an occasion: a calm look, when it's warranted, at something that will one day matter a great deal.
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