It is incredibly important to treasure the time you have on this earth with your family and others close to you. But when a death does occur, you want to make sure that you don’t leave your loved ones with a big financial burden, just at the time that they are grieving.
A funeral can be costly, and usually needs to be paid for immediately. This immediate cost can throw your family and dependents into financial strife.
Therefore, signing up for funeral cover is one of the smartest decisions you can make.
What is funeral cover?
Funeral cover involves the payment of a small monthly premium, which is calculated based on the amount of cover you buy, as well as your age and the number of members insured on the policy.
Then, in the unfortunate case that one of the members passes away, the provider will pay out a lump sum of money to cover the funeral costs.
Many people make the mistake of delaying signing up for funeral cover, but it should be done sooner rather than later. This is because you never know when disaster will strike – and it’s certainly not worth playing Russian roulette with your family’s future.
Additionally, many people also make the mistake of taking out funeral cover without investigating whether they have chosen the best possible funeral policy for their needs. Rather than picking the first option that you find, it is advisable to compare a variety of packages.
One provider that you should seriously consider, as they offer one of the best funeral cover policies available in South Africa, is 1Life.
1Life’s funeral plan
1Life’s funeral policy is incredibly versatile. Whether you’re a parent searching for funeral cover for your immediate family, or you need a funeral policy to cover your extended family, they will certainly be able to help you out.
1Life allows you to take out cover for your spouse, up to 5 children (21 years or younger), and 11 extended family members. You pay per member, which means that you can tailor your package to best suit your specific situation. This is the best form of funeral cover, as it means you’re not paying for options that you aren’t using.
In the event of the death of a loved one, 1Life Funeral Cover pays out between R5 000 and R100 000 – depending on your plan – within 24 hours of the claim being filed.
This means that you and your loved ones will be able to afford the costs of the funeral almost immediately and won’t have to take out a loan while you wait to receive the pay-out.
Additionally, if the main member of the package passes away, the rest of the members will remain covered for an additional 2 years without having to pay premiums during this time.
Upon signing up to a 1Life funeral policy, you and the other members will immediately be covered in the case of accidental death.
In the case of natural death, you are covered 6 months after you have taken out the 1Life funeral policy if your chosen pay-out is under R50 000. This extends to 12 months if your pay-out is above R50 000.
Take care of your loved ones
A funeral plan is a great way to ensure that you and your family aren’t left in dire straits financially should one of you pass away. However, it works even better when it is complemented by life insurance.
While a funeral plan takes care of the immediate costs after death, life insurance will then continue to help you and your family with your day-to-day expenses.
It’s never too soon to ensure that your loved ones are taken care of. Sign up to one of South Africa’s best funeral cover policies today – simply click here to get a quote from 1Life.
This article was published in partnership with 1Life.