Arguments Against Funeral Cover
People hate insurance companies, and many are against funeral cover.
One of their biggest hates is paying and paying month after month, year after year, and for what? A small payout with a whole lot of restrictions on it.
Sometimes you get bad service when trying to query something. If there is a
disagreement or a complaint you might end up going to the Ombudsman for a resolution to it.
But let’s take a look at some of the other pet hates people have with insurance, and more specifically against funeral cover.
Some of the Arguments against Funeral cover
People complain about the costs. Even though funeral cover requires some of the lowest premiums there are, people are reluctant to pay.
Some cover starts as little as R25 a month, yet for people on small salaries, this can seem like too much.
They see death as a natural event, and that the Government should at least subsidise those battling to arrange a funeral for the death of their loved ones.
There are many illiterate people in the world, and South Africa has its fair share. These people despise the small print which they can’t understand or read. Most times the small print is not in their language either.
People don’t trust insurance companies. They see them pocketing most of the premium and using just a small percentage of it towards paying for a funeral for them when they pass away.
Some people can’t understand that the surplus is used to pay claims during lean years. So the insurance company keeps going when there are underwriting losses.
Young people, in particular, see no Sense in having Funeral cover
Young people particularly hate insurance companies and are against funeral cover because they believe they are not part of their world.
Fit and healthy, they become annoyed when approached by insurers to start putting aside funds. These folk refuse to believe that their young life can be snatched away in the twinkling of an eye.
People think insurance companies play God. They reject the claims of people who have been paying premiums for years because they can’t produce the right documentation to make a claim.
They refuse to release any funds regardless of how many year these people have paid.
Insurance companies just raise claims unduly. For example, if a funeral cover holder reaches 50, 60 or 65, their premiums rise because the insurance company says you have reached an age when illness and death are more probable. In other words, they see older people as a costly risk to them.
People hate paying for something about which they’re not going to know anything. But the truth is, even if you are against funeral cover, you at least won’t be leaving a financial burden with those left behind.
Many think that living far from the city means insurers aren’t concerned about them. But distance does not matter at all. They can indeed take out funeral cover.
These days Insurance Companies Are innovative and Serve people in Other Countries As well
If you know of someone who had a policy and who stopped paying because they lost their job, you may despise the insurers for not paying out something at least. But instead, they pay nothing.
It’s the nature of insurance. Understand your obligations from the start and don’t let someone else’s experience deter you.
Nobody wants to go on and on paying for funeral cover till they die. The truth is there is a funeral cover that matures in a certain number of years but where you get insurance for life.
You may be against funeral cover and insurance in all its forms, but it is a necessary evil because it involves your family members. Taking out funeral cover will spare them financial stress and unnecessary bitterness and remorse.
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