Funeral plans are affordable way to cover the costs of a dignified burial, and provide peace of mind for your loved ones during times of grief.
Just like many other types of insurance, funeral insurance exists to protect people against unmanageable expenses during stressful and traumatic times. Just as you'd take out life, disability or income insurance to protect your family, so should you take out funeral cover, thus ensuring continued financial security for you or your loved ones during life's trying times.
Today, the cost of a funeral can amount to many thousands of rands. Should you or a member of your immediate family die, the expense of a funeral can add to an already heavy burden. Thankfully, a range of funeral plans have been created to address the significant financial demands of a funeral – demands that may otherwise be placed on your or your loved ones' shoulders.
Below, different types of funeral plans in South Africa are outlined. Explore these options to find the one that will best meet your burial cover requirements. Funeral plans are necessary and affordable, and by applying for one, you can spare your loved ones from additional worry and strife.
Types of funeral plans in South Africa
The type of funeral cover you choose will depend on your stage of life and your budget. As a single person or an adult without dependents, an individual funeral plan will provide sufficient burial cover. Should you die, the funeral plan will be paid out to your beneficiary and will cover the costs of your burial – or any other expenses that your beneficiary sees fit. Some individual funeral plans enable policyholders to cover their partners or spouses at a small additional cost.
For those with dependents, a family funeral plan is recommended. This type of plan enables policyholders to cover themselves, their partner and their children – up to five children in some cases. Family funeral plans also offer the option of providing burial cover for parents, parents-in-law or step-parents, as well as additional children, all at a nominal additional cost.
Cover for children usually lasts until the age of 21, but may be extended under certain circumstances – for example, if the child is a full-time student, or if she/he is mentally or physically impaired. Bear in mind that funeral cover for family members ends upon their death or upon the death of the policyholder – whichever is earlier.
For pensioners, it is possible to obtain specific funeral plans for seniors. These policies are affordable as they are tailored to the budgetary limitations often experienced by pensioners. Moreover, they can usually provide cover for both the policyholder and their partner or spouse. Pensioners' funeral plans offer a cost-effective way for seniors to ensure that a dignified burial is possible, and that the expense of a funeral won't fall onto the shoulders of grieving family members.
Choosing the right funeral policy
Perusing funeral plans and selecting the one that is most suitable for you or your family may seem like a macabre thing to do. However, the fact is that it shows forethought and responsible financial planning – particularly in those with dependents.
Having a funeral plan in place means that, after death, all the unpleasant financial details are taken care of while your family is given time to heal. This is invaluable during a crisis, offering your family relief and peace of mind at this difficult time. The last thing you want to do is saddle them with unmanageable bills. By planning for the inevitable, you can ensure that you or your family are able to grieve and comfort one another, rather than fret about bills and payments.
Explore the range of funeral plans available in South Africa, and you'll find one that best matches your budget and your requirements. Best of all, once you've got funeral cover in place, you can put it out of your mind and focus on more important things.