What is a funeral cover?
It is a policy that you purchase from an insurer to provide your family with the finances in case of your death. The insurer will either settle all costs regarding the arrangements of the burial/cremation, or it will pay out a lump sum to your closest relative to pay for the funeral expenses. When you or a loved one dies, the closest relatives will be responsible to arrange a burial for you and will have to pay for the expenses on their own. If you know that your family will not be able to pay for a funeral, then getting a funeral cover plan is a good idea. Burial or cremation ceremonies are expensive like anything else these days. The middle and low class individual or family in South Africa cannot take on these costs.
FinChoice is one insurance firm that you can rely on. They have affordable funeral cover options for you and your loved ones. FinChoice also have great benefits to look forward too.
One benefit that makes FinChoice a good option, especially for big families are:
You can choose to cover up to nineteen individuals under one policy. You do not have to apply for individual cover for every loved one you want to buy a funeral plan. The terms are as follow – you, your partner, up to five kids, four parents and eight extended members of your family.
Other benefits include:
- From R49 per person you can get up to R100,000 cover.
- In case the main member dies, FinChoice will pay the cover amount as well as all of the premiums paid by the main member back to the family.
- Premiums do not increase or decrease throughout the year, once price is determined, it stays the same.
- There are no waiting period on accidental death, you are covered immediately.
- If you choose to leave your current insurer to get funeral cover with FinChoice, your waiting period will be removed.
- When you add your loved ones to your funeral plan, you will receive an extra R2000 benefit for travel, groceries and airtime.
- Once claims are approved, the money will be paid out within 48hours.
- No medical examinations are required to get funeral cover.
FinChoice is a good option when it comes to funeral cover. You can see that their benefits are great and they do have your best interest at heart. Visit our home page if you are interested in other types of insurance as well.