Are you sure you don't need a funeral plan? Did you know that an average funeral costs in the region of R15000 – R30000, or that a top-of the-range coffin can cost up to R30000 or more?
Maybe funeral plans used to be for the poor, but it not always that easy to find that sort of money at short notice before the will and other policies have been sorted out.
Not anyone's favourite subject – funerals. As a younger person the thought of forking out for your own funeral barely crosses your mind. As we get on in years the time could come when it is too late to think about putting something away for that particular rainy day.
For this reason taking out a funeral plan with a financial services provider could mean the difference between a smooth transition for those left behind, and a nightmare addition to an already traumatic event.
What is a funeral plan?
A funeral plan is an insurance policy in which monthly premiums go towards covering the costs of the funeral for the deceased, and sometimes the members of their immediate family, lessening the burden both emotionally and financially on the family left behind.
Most claims are attended to within 48 hours of receipt of the claim documents which ensures that the family have the available funds to see the funeral through without having to pay anything upfront.
Many insurance companies offer funeral policies as part of their life insurance policy as well as in the form of separate insurance packages. There are also different policy options to choose from with affordability in mind. The higher the monthly premium you pay the better the cover you will receive.
What is covered by a funeral plan
Before taking out a funeral plan, please make sure exactly what it covers: Transport of the deceased to a mortuary and a funeral hearse?
Transport for funeral goers?
Catering for mourners?
Tombstone?
Casket / coffin?
Flowers?
Newspaper funeral notice?
Printing of funeral service / order of service programmes?
Hollard Insurance
Hollard offers a direct-to-the-public insurance selection including, among other, a funeral policy. Hollard’s funeral policy offers a choice of benefit levels to suit your needs and one policy to cover all your family members. Hollard funeral plan can be set up to include your parents and your parents-in-law as long as they are under 72 and they guarantee acceptance of all healthy persons under the age of 64. Hollard promise a 48 hour turnaround on you payout in the event of a death covered by the policy.
Real People
Real People is a credit management group offering a number of different financial solutions to their customers. One of their solutions is the 5 in 1 Family Care Plan offering a number of different packages which, they say, can be tailor made to fit your requirements. The 5 in 1 plan includes medical trauma cover, commuter cover, unemployment benefit, funeral cover and catering benefit to help you get through the financial aspects of burying your loved one.
Other companies that offer funeral plans include
Old Mutual who offers a range of choices with different features and benefits to tailor make your funeral plan to fit your needs
FUNiSure who claim to offer the lowest possible premiums and a claim turn around of 24 hours and
Fenomenal Woman has a family funeral plan, compiled especially with women in mind, to ensure that your family are taken care of in the event of a death of a loved one.
