Funeral Cover

Either a standalone policy or an extension (or benefit) of life insurance, funeral cover pays out immediately on the event of the policyholder’s death to cover the costs of the funeral. This pays out within 48 hours of the insured’s death. This covers the costs of the casket (or cremation services), embalming, headstones, catering, flowers, burial plot and transport. Given that funeral can cost anywhere between R5 000 and R30 000, funeral cover is essential.

Funeral cover can be taken out for a principal member, but also for a couple, parents with their children, and extended family. The amount that is covered is decided per person and not an overall amount for everyone. Most insurance companies increase the premiums and amount of cover with inflation to make sure that the funeral cover is able to cover all the costs.