Funeral Insurance

Funeral Insurance South Africa – Who Needs a Funeral Policy

Shopping around for funeral cover is not anyone’s idea of a fun time. The reality of the situation, though, is that eventually, we are all going to need some sort of funeral cover or insurance. Depending on personal preference, funerals can become quite costly.

This is why funeral insurers exist. You pay them money each month, and they step in and sort things out when it counts. Funeral insurance options differ, depending on the age of the person being insured, the type of insurance you are looking at, and the company providing you with insurance.

While you’re young and full of life, funeral plans are most likely the absolute last thing on your mind. Unfortunately, though, we can never really tell the future, and it’s best to plan and prepare earlier on in life. Anybody can take out funeral insurance, on themselves and those they take care of.

Parent’s can take funeral insurance out on their children – allowing them to take over payments once they are old enough. Adult children can take out funeral cover for their elderly parents, making it easier when the time comes for the funeral to be arranged.

Types of Funeral Cover

Funeral cover comes in many different shapes and forms. Below are some of the types of funeral insurance that you are able to sign up for.

For Yourself

Find the best option to cover your own funeral costs for when the time comes.

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For Your Children

Although not an exciting investment to make for your children, a funeral plan will help them in the future.

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For Families

Get yourself, your spouse and children all covered with just one funeral plan.

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Extended Family

You are able to take out a funeral plan for extended family you are financially responsible for.

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Over 55’s

From the age of 55, funeral cover premiums get higher, and fewer options are available.

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Over 65’s

Once retired, finding funeral insurance becomes difficult and pricey.

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Over 75’s

As seniors reach the 75-year mark, funeral cover can seem even harder to find.

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Over 85’s

Over 85’s usually have the hardest time finding a funeral insurance provider that will cover them.

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Funeral Insurance FAQs

Who can I take out a funeral plan for?

You can take out funeral cover for yourself, your family and your extended family.

What happens if I fail to pay my premium?

Should you be unable to pay premiums, your provider may pause your cover. This will be until you arrange with them to continue payments and reinstate the cover, or the plan will stop completely.

Who receives the money?

You must choose a beneficiary who will receive the lump sum when you die. If you do not, the money will be paid out to your estate.

Who is/isn’t covered?

There are certain circumstances in which funeral insurance claims may be rejected. These usually include any criminal or fraudulent activity.