Why Are There So Many Funeral Insurance Ads?

‘Many elderly individuals don’t want to burden their loved ones after they pass away, so they fall prey to the fear-and-guilt sales pitch.’

A life insurance policy for those over the age of 50 is referred to as an over-50s policy. The main benefit is that you will almost certainly be accepted.

If you’re between the ages of 50 and 80, getting standard life insurance can be difficult, especially if you’re in bad health. Over-50s insurance, on the other hand, does not ask about health.

In the last ten years, around 2.8 million plans have been sold. They’re popular since the premiums are usually low, and when you die, your loved ones receive a lump sum payment.

Companies advertise them as funeral insurance, and their marketing materials are littered with ominous facts.

‘The average cost of a basic funeral in January 2015 was over £3,928, and this is predicted to climb to £7,642 by 2025,’ according to the LV= website.

According to industry data, Axa Sun Life, one of the largest over-50s insurers in the UK, is airing 372 TV advertising each day on average this year, up from 293 in 2015. Sir Michael Parkinson is assisting in the promotion of this company. According to advertising experts, the adverts would cost Axa about £6 million in 2016.

A couple sits on a settee in a recent advertisement discussing the cost of their burial. The woman tells her husband about an acquaintance who “didn’t have anything straightened out before she passed away.” ‘Her poor family,’ says the husband, nodding sadly.

‘Why not put your family first with the number one choice?’ says Sir Michael Parkinson in another.

The statistics, however, will not add up for many. A family of a 65-year-old woman who paid £10 a month for a SunLife coverage would receive £1,710 if she died. She’ll have paid in £1,800 by the time she’s 80. She would have overpaid by £810 if she lived to be 86, the average life expectancy for a woman at 65. Her family will receive nothing if she quits paying or skips even one month’s payment.

Why are insurance commercials so bad?

We’ve all experienced the frustration of going to watch a YouTube video only to see an ad when we click on it. Nobody enjoys ads, but there is one type of ad that irritates me more than any other: insurance commercials. I realize it’s ironic that I’m criticizing insurance advertisements given the purpose of commercials is to get people to talk about your product, but insurance commercials are so horrible, and have been for so long, that I feel compelled to speak up.

The fact that insurance commercials are all the same is the main reason they are so bad. They’re all trying to make insurance appear more fascinating than it is, and it’s working so far. I remember thinking these commercials were humorous and excellent when I was a youngster, but as I grew older, I realized how formulaic they were and how similar they all were. None of the commercials stick out, which isn’t a positive thing in terms of marketing. You want to be able to stand apart so that people remember you when they’re looking for insurance, but if all of the commercials are in the same comical style, that won’t happen.

The mascot representing the specified brand is a key feature of these advertising. One thing I will commend these companies on is how they have marketed their insurance. It’s Flo for Progressive, the gecko for Geico, and the buddy police combo with the emu for Liberty Mutual. These characters are irritating and unfunny, despite the fact that they have done a wonderful job branding them.

They also abuse these personalities to the point where they become stale and old. In 2008, Progressive introduced the character of Flo, who has been a consistent mascot and featured in most of the advertisements for the past 13 years. There’s just so much you can do with a character like that, even in her instance. Progressive can keep Flo as their mascot, but they need to start making more ads and marketing initiatives that aren’t the same as the ones they’ve done in the past 13 years.

Another reason I don’t like these commercials is that they aren’t funny. I understand that comedy is subjective, but I don’t think the majority of Gen Z will find these amusing. Another issue is that when you use humour to market a product and people don’t think it funny, it’s really difficult to sell it.

Finally, I’d like to discuss how difficult it is to advertise to Generation Z. Ads on the internet bombarded Generation Z as they grew up. I can only speak from personal experience, but I’ve become immune to advertisements at this point, and in commercials, if you don’t honestly tell me why I should buy your product, there’s no reason for me to do so. I’m not going to buy insurance just because a gecko said I should.

I’m not sure how insurance companies can improve their advertising, but I do know that they need to. I’m not sure how much further these corporations can take their comedy. It’s just stale and overdone.

Is funeral insurance a thing?

Many people purchase life insurance to pay for their funeral expenditures. According to the 2020 Life Insurance Barometer report from industry-funded groups LIMRA and Life Happens, 84 percent of life insurance policyholders mention last expenses as a reason for purchasing life insurance.

Burial insurance is a sort of life insurance that covers final expenses only. It’s also known as final expenditure insurance or funeral insurance.

Burial insurance is basically a complete life insurance coverage issued in modest increments, ranging from $5,000 to $25,000. These policies aren’t designed for those who are starting a family and require life insurance to cover larger expenses like a mortgage, college tuition for their children, and income replacement throughout their peak working years.

The sole reason many older people acquire life insurance is to cover the cost of a funeral. Burial insurance for seniors is frequently sold to seniors who are on a tight budget and, in some cases, in bad health, and who lack the assets or other life insurance that a family could use to cover funeral expenses.

Why do insurance companies have jingles?

These jingles, which are usually heard at the end of ads, serve as a link between campaigns throughout a company’s history. Farmers Insurance, on the other hand, is using a cunning new approach to change where the music can be heard.

What percentage of commercials are for insurance?

The average advertising expense for the entire industry is roughly 1% for all premiums and about 2% for personal lines premiums. The percentage appended to each insurer group’s label represents the group’s advertising to total premiums ratio. I’m not surprised by the top three spenders.

How much does Liberty Mutual spend a year on advertising?

The Liberty Mutual Group includes Liberty Mutual Insurance. In the previous year, they spent more than $100 million on digital, print, and national television advertising. In the previous year, they spent over $250 million on premium ad units and promoted on over 250 distinct media properties across several media platforms.

What happens if you don’t have burial insurance?

Your family will be responsible for all of your final expenses if you die without life insurance. These expenses include paying for your own funeral and burial, as well as dealing with any taxes or obligations.

Everything related with your mortality is more difficult without life insurance, as you’ll see below.

Here’s what you should know about dying without life insurance, as well as how life insurance can make things easier and more organized.