Many people have heard the term funeral cover but don’t know what it entails or how it works.
Funeral cover is a type of insurance which pays out a specific amount of money with additional benefits in the event of someone dying. This money is used to cover the immediate and urgent cost of the funeral and related matters. The cover ensures that the family do not have to struggle financially during such a difficult time.
What does funeral cover include?
A funeral cover policy typically consists of a cashback lump sum which is paid out within 24 to 48 hours after a claim is made. The legal maximum amount for this lump sum between R50,000 – R500,000 per individual policy holder, depending on the Insurer.
Most service providers offer a range of options including individual and family plans with each policy catering specifically to the needs of the policy holder.
Additional benefits can be added onto the policy and include:
- Cover for extended family members
- Family income protection
- Memorial benefit
- Premium waiver
- Provider specific benefits (airtime, grocery allowance, transport …)
How does someone claim funeral cover?
The claims process is simple and straightforward. When someone dies, you will need to complete a claims form which gets sent with a death certificate to your insurance company. You will then receive your money in your bank account within 24 to 48 hours.
I’m interceded in getting funeral cover, what happens next?
You should now know what funeral cover is and how it works. We have a number of trusted service providers who can assist you in taking out a funeral cover policy.
You can visit our funeral cover page to view each providers credentials. When you are ready, you can complete the form and the provider will call you to finalise the policy details and, get you covered.
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