Burial insurance - sustany/dvg GitHub Wiki

Burial insurance is an insurance purchased to cover the cost of burial, cremation or other disposal of a deceased remains. Burial insurance can be defined as a type of life insurance: the paid-up capital is used to cover the costs of the funeral services and the cost of merchandise after a person dies.�

The subscription of a burial insurance involves several actors:�

• the subscriber: the individual who purchases a funeral insurance contract with an insurance company to guarantee the creation of a death benefit � i.e. assets received when the holder of a life insurance policy or pension account passes � on behalf of the beneficiaries;
• the insured: the individual whose death is insured, in some circumstances the insured and the subscriber can be the same person;
• the beneficiary: the individual who has been designated by the policyholder after the death of the insured;
• the insurer: the individual or company who pays the death benefit constituted after the death of the insured;
• the broker: the intermediary between the insurer and the subscriber when the contract is not marketed directly.