Do Funeral Plans Save You Money?

Funerals are becoming more and more expensive, and some might even say that a proper funeral can be a luxury. But do funeral plans save you money? 

Even with just the basics such as a tombstone and burial service, funerals can easily amount to thousands of rands. For this reason, most South Africans are choosing to pre-pay for their funerals through means of funeral cover plans. The only question that remains is, do funeral plans save you money?

Even with just the basics such as a tombstone and burial service, funerals can easily amount to thousands of rands. For this reason, most South Africans are choosing to pre-pay for their funerals through means of funeral cover plans. The only question that remains is, do funeral plans save you money?

Death Has No Time

If a normal way of thinking takes over your mind. You might argue that paying monthly premiums towards a funeral insurance plan will end up costing you more. In essence, this might have been true since most things in life tend to work out more expensive when paid through monthly payments than when paid off at once. The only unchanging factor that changes this is the unknown. No one knows when their time of passing will come. Some people will contribute toward their funeral cover for many years before death and of course payout. While others might only help for a few months.

Whichever the case, you will still be saving a bunch of money through a funeral plan.

The Average Cost of a Funeral Can Add Up To R25 000 – Do Funeral Plans Save You Money

It will include most expenses such as a coffin and the burial service or cremation and the urn, graveyard plots and headstones, undertaker services and flowers, catering and other things such as programs and the venue. When a funeral plan is in place, some or all of the above will be at no extra costs. For a small monthly premium, up to R25 000 worth of funeral expenses can easily be covered. To top that, some providers may even throw in extra added benefits such as transportation services, airtime and grocery benefits. These are more than often forgotten when determining the cost of a funeral as well as how much money the family needs after the funeral to continue with their day to day lives without having to struggle with finances.

Lump Sum – Do Funeral Plans Save You Money

Another great benefit is a lump sum that can be paid out to a beneficiary to cover all extra costs regarding the funeral that may not be directly covered by the funeral cover provider.

Having a funeral cover plan can save family members from the financial burden of having to pay for your funeral on their own. Some families might not be able to afford it and will have to make debt to do so. A funeral plan can save relatives left behind a lot of money and provide some financial relief for them.

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