South Africans purchase funeral covers because in a time of need as when a loved one passes away, the last thing they want to worry about is how they will finance a dignified and memorable send off. Purchasing a funeral plan to bury your family members, or for yourself is much simpler these days as you can get funeral plan quotes online, and then agree to a funeral policy over the phone, and then purchase it, all without leaving the comfort of your office chair.
Often, though, South Africans struggle to find funeral cover benefits they want and match it with a funeral plan that they can afford!
A good funeral cover will take away most of a family’s worry by paying out within 48 hours of a valid claim, while most will pay out even on the day of your claim, as long as all documents are in order. Most funeral policies payout cash that can be used for paying for the burial, the catering, the casket and the tent. The beneficiary will then plan and run the funeral service. Some funeral policies include services such as caskets and tombstones, reducing time in looking for these services even if you have the cash to pay for it. This will allow for preparations to start as soon as possible.
There are other funeral schemes which take into account that you might want to have goods paid for instead of a lump sum payment. These are usually held with funeral parlors, such as Doves, Avbob Funeral Cover and others. The funeral parlor would then make burial arrangements, pay for the food, tents, and all other related costs such as transport.
A funeral plan is most useful as a means to finance a funeral for a number of family members, through paying of monthly premiums.
Funeral cover quotes are a dime a dozen these days, so understanding which benefits matter to you most is where someone who wants to get most out of their plan would start. Shopping online for a funeral plan is very convenient as you can compare funeral covers and get quotes without having to be put on hold by a call center agent.
Funeral cover pay out can range from R5 000 to R100 000. Premiums depend on the age of the insured person. The older you are, the more you will most likely pay. But premiums may start from as little as R25 per month. These should be low enough for you not to skip your monthly premiums. Skipping premiums can mean a lapse in your policy, and prompt payment of your premiums is of the utmost importance. Cheap premiums are a quite easy to find, but they have to be taken with a reliable and reputable insurer who has years of experience and a track record of paying timeously (in under 48 hours).
Funeral cover benefits types include:
- cash pay out, where a lump sum is paid out to a beneficiary’s nominated bank account.
- cash pay out and benefits, where benefits may include a cash back plan or tombstone
- cash pay out and services. Services may include a funeral service and transportation or repatriation