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Newfoundland & Labrador Funeral Insurance

NL Funeral Insurance Overview

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Most Canadians have their preferences when it comes to funerals. Some want a traditional and expensive event but others want an eco-friendly and simple funeral. No matter the kind of funeral you want, you can always achieve the desired result if you plan ahead. Most people don’t have the experience and knowledge to organize a funeral especially when a loved one dies suddenly, this is why you should hire an accredited funeral director in Newfoundland and Labrador for a successful event.

Funeral directors in Newfoundland and Labrador are highly experienced to administer a funeral. They can help you to plan such an event and ensure that it would be successful. A funeral director will provide relevant assistance to ensure that the wishes of the deceased and those of his family will be met.

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NL Funeral Insurance Details

Newfoundland & Labrador Bereavement Authority

The Newfoundland and Labrador Financial Services Regulation Division offers a number of services which include insurance regulation, securities regulation, real estate regulation, mortgage brokers regulation, and consumer protection fund for prepaid funerals.

The body services individuals and companies that provide financial services and products to the public. The sectors regulated by the body include securities, insurance, real estate, pensions, mortgage brokers, prepaid funeral contracts, and many more.

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Newfoundland & Labrador Obituary and Mortality Rate

The Newfoundland and Labrador mortality rate increased in 2016-2017 to 6.4 deaths per 1,000 live births and it decreased annually afterward. Over a period of 22 years from 1992 to 2013, the mortality rate decreased by 41.9% in the province.

An obituary in Newfoundland and Labrador is a notice of death usually published in the newspaper and sometimes online. It could also include a brief biography of the deceased and sometimes information about the burial, funeral or cremation process.

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Newfoundland & Labrador Funeral Insurance Guide

Service NL licenses prepaid funeral homes in Newfoundland and Labrador and regulate other sellers of prepaid funeral service. The body support informed choices related to arranging and prearranging of funerals, burials, and cremations.

You can access the Embalmers and Funeral Directors Act and Embalmers and Funeral Directors Regulations for legislation and details regarding funeral homes, funeral directors and embalmers in the province

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Funeral Insurance Related Pages

Newfoundland & Labrador Funeral Insurance News

Two funeral homes in Newfoundland and Labrador whose licenses have been suspended since 2016 appeared to be accepting money from new clients for the services.

According to a CBC Investigation, Sunset Memorial Funeral Home in Grand Falls-Windsor said it would take money in trust for prepaid services while Gordon Woolfrey Funeral Home in Lewisporte said it would accept money through insurance or in trust.

A Sunset Memorial employee explained what happens over the phone. The employee said that clients would often come in and select the funeral or service of their choice. Then, they have some different options with respect to the payments, the funeral is expected to be paid in full but the price is locked in and the money goes into a trust account.

The employee said that for the prearrangement, someone pays the funeral and if the funeral is paid in full, the price is guaranteed, according to the employee. Furthermore, Terry Green, the owner of both funeral homes, refused to comment about prepaid funeral services when contacted by CBC. But he told CBC that he should basically concentrate on what they do, that is serving families.

A third funeral home investigated said money from new consumers would be put into trust but later it said that information was not correct. When contacted, Service NL, the provincial body in-charge of insurance, refused to grant an interview to anyone but it rather responded to questions through an email stating that the funeral homes whose licenses have been suspended are not allowed to take money in trust.

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NL Funeral Insurance FAQ

How Much Does It Cost For Funeral Insurance?

On the average, a funeral insurance policy costs $50 each month and the exact amount you purchase depends on your gender, age, health and the face amount you purchased. However, the most common face amount purchased is $10,000.

What’s the Difference Between Life Insurance and Funeral Insurance?

Funeral insurance and life insurance pay a lump sum amount but the lump sum paid by funeral insurance is smaller. However, the major difference is that funeral insurance covers short-term burial expenses but life insurance provides financial security on a long-term basis.

What Does Funeral Insurance Cover?

Newfoundland and Labrador funeral insurance pay a lump sum amount up to $15,000 to your estate in the event of your death.

Who Is Legally Responsible For Funeral Costs?

The cost of a burial, funeral or cremation should be paid from the deceased estate. However, if the deceased’s family does not have enough money to cover the event, they can sign a release form with the state or county’s coroner’s office indicating that they cannot afford to bury the family member. The state or county will pitch in to either bury or cremate the body.

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