1Life Funeral Insurance Explained

There are two questions you may well be asking yourself. These are: What is funeral cover? And why do you need 1life funeral insurance?

When a loved one dies, and you are feeling grief-stricken and lost, then the last thing you want to worry about is where you can borrow money to pay for a funeral.

The funeral cover makes all the difference. Within 24 – 48hrs of the death of a family member, the beneficiaries of the funeral policy will receive a lump sum. After that, you use the money to pay for all the expenses involved in a dignified and memorable funeral.

Why to Choose 1Life Funeral  Insurance

  • The cover can be between R5 000 and R100 000.
  • You can cover up to 5 children and ten family members on one policy.
  • There is no premium increase for the first 24 months.
  • 1Life pays out the lump sum within 24 hours of death, on receipt of all valid documentation.
  • Repatriation from the place of death to the place of burial will be free of charge, within the borders 1Life Funeral Insurance Coverof South Africa.
  • A R5 000 memorial benefit is available on the anniversary of the claim, to help pay for the unveiling.
  • You get up to R6 000 for groceries, which will be up to R1000, for six months.
  • You can choose the cover you need, and the monthly premiums you can afford. The company takes age into consideration.
  • No medical examination is necessary, although an HIV test may be required to determine any risk factors.
  • If the primary member dies, the remaining family members will remain covered for 24 months, without paying any premiums.
  • Anyone between the ages of 18 and 65 may apply.
  • The lump sum payout is tax-free.
  • You may increase the cover whenever you wish.
  • The premiums will depend on your age, the amount of protection you need, and the number of additional members you add to your policy.
  • 1Life Funeral Insurance is simple, affordable, and you can apply online.
  • It is preferable to pay by debit order, as late or missed payments will compromise your payouts.
  • Calculate how much cover you need. 1Life has a Financial Needs Analysis, where, in three simple steps, you will get a detailed recommendation of the cover and savings needed.

 

Waiting Periods

  • No waiting period for accidental death.
  •  Six months for a natural death.
  •  24 months waiting period for suicide.

Primary members and spouse can get cover of between R5 000 andR100 000.

Children and extended family members can get cover of between R1 250 and R45000, depending on their age on entrance date.

Age Limits

  • Anyone between the ages of 18-65 may apply.
  • Children will remain covered until they turn 21 unless they are students, in which case the limit is 25.
  • Parents up to age 75.
  •  Extended family members must be under 65.

 

The Truth About Money

There is no extra charge for this benefit. It is a website available to show and teach their clients money management skills.

  • Debt Counselling – available telephonically
  • Estate Mediation – you will be assisted with will-drafting, setting up of trusts, and any other legal advice and mediation.
  • Financial Education Course which is digital and available to all members. You will have access to Boston College for this course.
  • You get all kinds of financial advice on The Truth About Money website.

For peace of mind, and to live responsibly, take out a 1Life Funeral Policy today.

 

For a FREE funeral cover quote, please complete and send the form on this page!