Popular Funeral Plans

Death is not a subject one wants to think about or discuss. In this article, we will have a look at popular funeral cover plans.

However, it is an inevitable fact that death will follow life.

Preparing for expenses related to funerals is something all South Africans should consider.

Popular funeral service providers such as Avbob and Doves also offer their clients funeral insurance plans.

These are underwritten by well-established South African insurance providers, but the advantages are that funeral homes offer the bereaved the additional benefit of arranging all the details that are involved with a burial service.

Who else sells funeral plans? – Popular Funeral Cover Plans

Popular Funeral Cover PlansThere are many insurance providers who offer funeral plan cover.

Not only are most of these policies available at an affordable price, but they are easy to understand and can also be purchased online.

An example of popular funeral cover plans

Liberty offers a variety of funeral insurance plans. These include:

  • Burial Plans
  • Comprehensive Funeral Cover
  • Standard Family Plans
  • Extended Family Funeral Plans

 

The Burial Plan Benefits – Popular Funeral Cover Plans

  • Pays out up to R30 000 for funeral and related expenses
  • The benefit applies to all members named on the policy
  • Up to eight children can be added to the policy
  • Pays out R30 000 for up to four parents
  • Pays out up to R30 000 for a maximum of eight extended family members
  • No medical examinations are required
  • The payouts are made within 48 hours, provided that all relevant documentation is lodged with the claim

 

Comprehensive Funeral Plan benefits

  • Lump sum payout of up to R100 000 for principal member and spouse
  • Also, lump sum payout of up to R50 000 for up to four parents and eight children
  • Lump sum payout of up to R30 000 for up to four extended family members
  • Double accident cover of double the face value of the policy for principal member and spouse
  • Free membership after reaching 65 years of age
  • Free cover for all family members named on the policy in the event of the principal member dying before retirement age. This benefit continues until such time as the principal member would have celebrated his/her 65th birthday
  • Optional additional education benefit

 

Standard Family Funeral Plan

  • Cover of up to R75 000 for principal member and spouse
  • Also, cover of up to R50 000 for up to eight children and four parents
  • Cover of up to R30 000 for up to eight extended family members
  • Skip a payment once a year without losing cover
  • Pays out five months of premiums every five years
  • Optional additional education benefit

 

Extended Family Funeral Plan

  • For as little as R37 a month, this plan offers full life cover for up to four extended family members
  • Lump sum payouts from R5 000 to R40 000
  • Claims are paid out within 48 hours, provided all required documentation has been lodged
  • Skip a payment once a year without losing cover
  • Pays out five months of premiums every five years
  • Optional additional education benefit

 

Parent Funeral Plan

  • Cover for up to two parents and two parents-in-law from R75 a month
  • Lump sum payouts from R10 000 to R20 000
  • Claims are paid out within 48 hours, provided all required documentation has been lodged
  • To qualify, parents must fall within the 35 – 74 year age category
  • Skip a payment once a year without losing cover
  • Pays out five months of premiums every five years

 

What is an education benefit?

In the event of the death of a policyholder, the education benefit pays out a lump sum to assist with the cost of schooling of his/her children.

Benefits

  • Direct cash payout to education institution on the death of the principal policyholder
  • An additional 10% benefit paid annually towards schools uniforms and related expenses
  • If the principal policyholder is still alive, he/she will receive a survival benefit of 10% of premiums paid on the 18th birthday of a child
  • Skip a payment once a year without losing cover
  • Pays out five months of premiums every five years

 

A look at other funeral insurance providers

1Life Funeral Cover offers:

  • Payouts of between R5 000 to R100 00 for every member named on the policy
  • One plan covers spouse, up to five children and up to 10 extended family members
  • Repatriation service available
  • R5 000 memorial benefit
  • R6 000 grocery benefit
  • Premiums remain fixed for 12 months

 

FNB Funeral Plan offers:

  • R100 000 cover for principal member and spouse
  • R50 000 cover for parents
  • R30 000 cover for children
  • Double Accidental Death benefit
  • Extended cover for up to 21 family members on one policy

 

Beware the fine print

It is of utmost importance to read the fine print of any contract before putting pen to paper.

Some of the exclusions in a funeral insurance cover policy include:

  • A waiting period of six months from date of inception of the policy
  • A waiting period of 24 months if death is the result of suicide – these claims are not always successful
  • Policies will cease with immediate effect if you don’t pay your premiums

 

Conclusion on Popular Funeral Cover Plans

So you can get funeral policies from a variety of insurance providers at a price that will not break the bank balance.

So, everyone owes it to themselves and their loved ones to have a policy in place to cover the cost of death.

Having this type of insurance alleviates some of the burden placed on families who have to face the difficulties related to planning a funeral.

With the ever-increasing cost of funerals – currently estimated in the region of R50 000 – it is imperative that families prepare themselves for the inevitable by taking out funeral cover insurance.

South Africans have literally dozens of insurance providers from which to choose and taking out funeral cover is both affordable and easy to do, especially as most companies provide cover via their internet websites.

Complete the form on this page to get a FREE funeral cover quote.