Funeral Cover Plan Benefits

A funeral policy provides basic financial support and usually comes with a whole lot of extra benefits to cover the costs for various aspects related to the passing of the policy holder/s.

What Does a Basic Funeral Policy Do for Me?

Extended Family Cover Options

Currently, funeral cover is the only type of cover which can provide cover for you as well as your immediate or extended family – no other cover products can do that. In other words, you can take out a policy just for yourself, or if you like, you can extend the cover for your immediate and/or extended family. In general, the more people you cover on one policy, the cheaper the additional premiums compared to if you had to take out separate policies for each family/extended family member. So a funeral policy gives you the freedom of choice of who you want to cover, what type of cover you want, and how much your premiums will be.

No Medical Exams

Another major benefit of a funeral policy is that no underwriting is required – Put simply, no medical exam is needed, which for many people is often a concern.

Fast and Simple Payment

When you, or a loved one pass, it is important to have fast access to finances, so that you can make the necessary arrangements for a funeral soon after the passing, without being stuck with no money to do so. Because of this, compared to other cover products, funeral policies pay out very fast – usually within 48 hours for a valid claim.

Funeral policies pay a set amount up front according to the amount of cover you have selected. In general, policy pay-outs range between R5,000 and R100,000 per member on the policy, so it is important to select the cover amount and related premiums which match your needs.

What Extra Benefits Do Funeral Policies Often Come With?

Many policies go beyond simple pay-outs and offer additional benefits to policyholders, depending on the cover company. Some of these are listed below, but check with your funeral cover consultant to see which apply to the policy you wish to take out.

  • Airtime – To help inform loved ones and make funeral arrangements
  • Groceries – Usually for a set period (e.g. 6 months) to help support a family during this difficult time.
  • Tombstone – Often expensive, this additional benefit helps commemorate your loved one’s final place of rest.
  • Repatriation services – This provides cover for transport of the deceased – either across borders, or over long distances, depending on the policy.

In summary, a funeral policy has many unique core benefits, as well as many potential extra benefits which other cover products (or worst case, having no cover) do not provide. These help greatly to reduce the stress and financial worries during the funeral process, and allow loved ones to be laid to rest according to their wishes.