Things to Know When Buying Funeral Cover
August 25, 2015
When buying funeral cover, it is important to look at the monthly premiums you’ll be paying. Also look at the benefits you expect to receive.
The important aspect is to make sure that the funeral cover you have will be able to pay for a decent funeral and that the services you require will be provided.
Funeral insurance policies vary, and you need to know the expiry date of the policy. Do you know that your children’s cover can cease after they reach a certain age? Then there will no longer be cover for them.
What about retirees? Make sure you know what you’re getting when buying funeral cover because with some policies after a person reaches a certain age their cover ceases. If they die after this age, the insurer will no longer pay.
Buying Funeral Cover – Check out Waiting Periods
Many funeral covers are on offer. There are funeral plans and burial societies which insure against natural death, accidental death and suicides.
An important thing to know is the various waiting periods with the various types of funeral cover. Remember that the risk profile of the insured person will also depend on the cost of the cover. The insurer migh refuse to cover a very high-risk person
Waiting periods are in place to protect the insurer and loyal customers from people who buy a funeral policy when someone is already on their death-bed and who want to claim immediately.
Buying Funeral Cover – What’s all Included in YOUR Policy?
There are many things you need to understand before you buy funeral cover. For instance, without funeral cover, what will you do with the body? Have you got appropriate transport to move the body? Who will supply the coffin?
A funeral undertaker can take all this stress away from you because they take care of all these complicated issues. The costs among the different funeral services vary according to the services they offer.
Location is an important aspect and it will be to your benefit to speak to a local undertaker about the costs involved in the event of a death in your family. The costs of transport and burials vary, with the largest expense coming from that small plot of land for the burial.
You can expect to pay in the region of R10 000 to R12 000 for a burial plot in a cemetery of your choice. Prime spots in more upmarket cemeteries can cost far more – the region of R25 000 to R30 000.
In South Africa, with the HIV/Aids pandemic, the death rate has increased, and many of South Africa’s cemeteries are running out of land. For these issues as well as costs, many people are looking at cremation as a cheaper alternative. The decision as to how to dispose of a body will differ according to customs, cultures and religious preferences.
Buying Funeral Cover – There are Many Costs No-One even thinks about
Many people don’t think further than the coffin and small plot of ground when it comes to funeral planning and buying funeral cover. There is far more to it, and many other costs will need to be factored in. Things like the tombstone, inscriptions, hearse, tents, flowers, music and brochures are costs that many people don’t consider.
Dealing with the loss of a family member is traumatic as it is. Make sure this time isn’t made far worse by ‘fighting’ with a funeral services provider to pay.
Do the research, get funeral cover quotes and look at the advice offered by reputable funeral service providers so that you can mourn in peace without constant hassles from buying funeral cover that is inadequate.
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All info was correct at time of publishing