When a loved one dies, the last thing you want to worry about is how to pay for the funeral. The closest family to the deceased will normally be responsible to pay for funeral costs if the deceased did not have a funeral plan in place.
Funeral cover is insurance that pays out a lump sum to help cover the costs of a funeral. It is a contract between you and a funeral insurance company to pay out a sum to your relatives to pay for your burial or cremation. Your funeral cover will be paid out to your loved ones if you or any other covered member dies.
Usually, when one purchases life insurance there is an option to add a funeral plan to your life insurance policy. Life insurance pays out after a loved one’s death, just like a funeral plan.
Costs of funerals
Like any other service in South Africa, the cost of planning a burial or cremation increases each year. Unlike a few years back the expenses of a funeral have become expensive. The low-to-middle-class individual cannot afford to settle the amount once-off.
Who needs funeral cover?
Every single South African need a funeral plan to cover an unfortunate event where a loved one passes away. In the event of a death in the family, whether expected or unexpected, it can place an individual or family in a financial struggle.
You and your family need to get cover to have protection in the event of a death. Most of the insurance companies in South Africa do not have a waiting period, however, there is a waiting period on suicide.
No waiting period is ideal because we do not know what tomorrow might hold. Your spouse can die suddenly, or a child or extended family members.
List Of Companies In South Africa:
What additional options are there on a funeral plan?
Extended family Cover
In the event there are some extended family that do not have a funeral cover in place, you can opt to add them to your existing funeral plan. It is essential that family members do have a funeral plan in place, otherwise, the financial burden can be placed on you.
You and your family Cover
A funeral plan can be adjusted as you wish, you can add or remove individuals ad even change the cover amount. It is called a family funeral cover to meet your needs. Family funeral cover is created for a person, his or her spouse and their children (usually up to 5 children). It is important that your loved ones have a funeral cover for protection against the unexpected.
Other Financial services provider Options
You have the option to choose repatriation cover as well, groceries, transport and more. Sometimes these benefits are automatically added to your funeral cover. You will have to read through each financial services provider’s terms and conditions.
How to choose the right funeral cover?
You will have to figure out how much coverage you need and can afford to pay. Your cover will depend on the funeral option you choose.
Two options
Burial or cremation. A burial is more expensive than cremation and there goes more planning into a burial. Therefore, you will purchase more cover for a burial. The policy you and your family need will depend on the prices of everything related to the arrangement of a funeral.
Get funeral cover quotes to compare
You can visit a quote-providing website, like Clearwave, to help you with the search for the right funeral cover. You can apply on a quote-providing website to receive various options to consider from various insurers in South Africa.
Each financial services provider has a range of policies to choose from. No insurance company has the same rate on their funeral plans and each over different benefits on their options. It is the reason why you need to compare funeral plans.
Compare funeral insurance quotes
After you applied for funeral cover quotes, you will receive various offers from different insurance companies. Take these policies, compare the benefits and rates, place the ones that will offer you more for less on one side and then choose from the policy list one that will meet your needs.
The funeral cover that provides you with the best benefits is the one right for you.
Where to get funeral cover quotes?
The best way is by searching the web. You will find our website offers you funeral cover online. Once you have applied, agents will get in touch with you and offer you a range of options on funeral plans.
Make sure the ask the agent about everything that you want to know about a burial plan (like no waiting periods and more). It is best to go with a licensed financial service provider in South Africa. After you have decided on an insurer and policy, ask them to call me back when you have the time and purchase the plan you need.
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