The Importance of Funeral Insurance in South Africa

The Importance of Funeral Insurance in South Africa

Funeral insurance is an important type of policy everybody must have in their portfolio. Its a type of insurance that will make money available when you or a loved one passes away. Many South Africans are cash strapped. Not having money available at the time of death can be devastating. This is not the type of stress anybody deserves. Preparing for this event is the responsible thing to do. On this page we will look at the importance of this type of insurance.

 

What is Funeral Insurance?

It’s an insurance product for your life. It pays out a cash amount when you pass away. This includes death due to murder or illness. Most policies will cover you for accidental death from the first premium. You decide how much cover you want for each person on your policy. Most funeral plans will cover each member from around R5000 to R50 000. Some policies cover an individual for as much as R70 000.

For more information regarding what funeral insurance can do for your family Click Here.

 

Who Needs Cover?

Every person in South Africa needs a policy. Arranging a burial can be very expensive. You need to consider the cost of a tombstone, flowers, catering, mortuary, hearse and other costs. A basic funeral can easily cost more than R20 000. It does not matter how old or healthy you are. Everybody must have some form of protection. The sad reality is that everybody will die. You have to make sure you are prepared for this inevitable event. Many young people forget that accidents happen. The longer you wait to get a policy, the more you will pay every month. We always suggest you get cover sooner rather than later. Read More Here

 

What is Covered?

Most burial policies will cover cash only. Providers like, Metropolitan, Discovery & Assupol will pay you cash. You can then take the money and use multiple providers to arrange the service. This is a great type of product if you understand the process. Alternatively, providers like AVBOB will give you cash, and arrange the service for you. This is a convenient way to make sure everything goes smoothly. Both options are god. It all depends on your needs. The best product is the one that covers all you needs. With the payout you can get products and service. For example, you can pay for products like pamphlets, tombstone, grave site venue etc. You can also pay for services like musicians, pastor, waiters, venue, catering, etc.

Is there a Waiting Period?

Most funeral policies have a waiting period only for natural causes. This is because there are no medical examinations. You do not have to answer any medical questions to qualify for a burial plan. This is to prevent the sick and elderly to wait for the last minute before they get cover. The insurance providers give you the benefit of the doubt. This is an industry standard and should not scare new customers.

 

How do I get cover?

There are many ways to get cover. One of the quickest and easiest ways is to apply online. This is an effective way to get cover quickly. One of the advantages is that you can compare options. Another advantage is you can shop around for the most affordable cover without ever leaving your house. Many providers represent companies like AVBOB, Metropolitan, Discovery & Assupol. All these providers offer amazing benefits. Companies like INShoor have around 25 staff members ready to take your call. All you need to do is complete a contact form on the website.  Click Here