Insurance solutions to cover funeral expenses
In order to relieve relatives financially, there are various options for Funeral provision. These include:
- Funeral pension contract: With a pension contract, individual wishes for your own funeral can be defined and financing can be ensured. For this purpose, the money is deposited in an escrow account or secured by insurance.
- term life insurance: In the event of death, this insurance pays out a fixed sum to beneficiaries. It is primarily used to financially secure survivors and can be used to cover funeral costs.
- death benefit insurance: Insurance specifically designed for funeral costs, which takes effect immediately after conclusion of the contract or after a waiting period and covers the costs.
- Statutory death benefit: Although this benefit has largely been abolished since 2004, certain groups of people are still entitled to a one-off payment, including victims of accidents at work or civil servants.
- Savings account or special reserves: Anyone who sets aside money early for their own funeral can financially relieve their relatives. However, in certain cases, the social welfare office can access these reserves.
Tax deductibility of funeral expenses
Under certain circumstances, funeral expenses can be claimed for tax purposes as exceptional charges. This is possible if:
- The costs exceed the value of the estate: In this case, the excess costs can be stated in the tax return.
- Reasonable own burden: It is checked whether the costs exceed the taxpayer's reasonable personal burden.
It is advisable to consult a tax advisor to clarify the individual options and requirements.
How Memovida helps you
In times of grief, we would like to Memovida Be by your side and support you in all matters relating to the funeral. Our services include:
- Comprehensive advice: We will explain your rights and obligations and help you find the best solution for you.
- Organization of burial: From choosing the coffin or urn to arranging the funeral service and burial — we take care of the complete planning and implementation.
- Assistance with formalities: We help you apply for death certificates, deregister with authorities and communicate with insurance companies.
- Financial advice: Together, we will check what costs you will incur and what options exist to cover or reduce costs.
Our goal is to relieve you of as much of the burden as possible during this difficult time so that you can concentrate on what is important: saying goodbye to your loved one.
The question of who bears the costs of a funeral is clearly regulated by law, but can be complex in individual cases. It is therefore advisable to obtain information early on and seek professional support if necessary. Memovida stands by your side as a trustworthy partner and empathetically accompanies you through every step of the farewell process.
For further information or a personal consultation, please feel free to contact us at any time. We're here for you
