Funeral Cover – Quick Overview
Funeral cover is also known as burial insurance and it provides the financial support for the funeral related expenses of the policyholder. Just like a traditional life insurance policy provides the financial support to the family members of the policyholder, funeral insurance provides the support to the family members after the death of the policyholder. Some insurance providers and funeral homes even offer extra benefits such as pre-planning funerals like the freedom to choose burial and funeral products and services before the death of the policyholder. Read further to discover more interesting facts about the funeral cover and how to obtain the quotes.
Why you need funeral Cover in South Africa?
With the rising prices of funeral items, funeral ceremony or a burial ceremony is becoming very expensive day by day. Some families may not have the required money to spend on funerals of their beloved ones. This is where a reliable and affordable funeral insurance policy can help such poor families in case of the death of their close ones. If you do not want to put extra financial burden on your family members after your death then you should immediately think about buying a reliable funeral insurance cover. It is extremely important to plan for your burial ceremony in advance and financial insurance policy is the best solution for the same. Read further to find the proven method to find and buy the most affordable and reliable funeral insurance for yourself or for any of your family members.
How to obtain the reliable funeral cover quotes?
Several insurance companies and funeral homes offer such type of burial insurance policy. The expiration terms for such policy can range up to 100 years and after that the policy stands to expire without any additional benefits. You do not have to go through a rigorous medical examination in order to get approved for such type of funeral insurance policy. However, insurance company and funeral homes do ask about your past medical background or a medical history. If you or any of your family members suffer from serious hereditary and chronic health issues then the insurance company may deny you the insurance cover. However, this is a very rare case and it may not be considered at all funeral homes and insurance provider companies.
What are the benefits of this type of coverage?
The overall functioning of the burial insurance policy is same as that of a traditional life insurance or a term insurance policy. Just like a whole life insurance policy, after the death of the policyholder, the beneficiary gets the whole cover insurance amount which he/she can use for any purpose. A family funeral plan can pay for all the expenses related to the funeral of the policyholder. Extra services such as pre-funeral planning can be also accomplished with the help of such funeral cover. This means that family members of the policyholder no longer have to go through a stressful situation of managing and collecting funds for the funeral expenses after the policyholders death.
What are the basic qualifications?
Unlike traditional life insurance policies, the person intended to get funeral cover need not go through a critical medical examination. But he/she has to answer for certain questions regarding his/her medical history and background about medical ailments. Some insurance companies even provide expiration terms in some cases. Insurance companies limit the insurance benefits up to certain age say up to 80 years. After that age limit, if the person lives then the insurance benefits are diminished. Funeral plans South Africa is one important policy that every South African should have.
"We make a living by what we get; we make a life by what we give." Winston Churchill