Surprisingly funeral cover can be included as an option to life insurance coverage, or it can be applied for as a stand-alone product, offered by many insurance providers and also obtainable through financial institutions and some retailers.
Funeral cover can be purchased in options from R2000 up to R100 000 and can cost as low as R38 monthly, as a basic solution. There are many options to be looked at in this form of product, based on the needs you have of a funeral cover policy. You could insure yourself only, or you may furthermore, also insure your family members and even your extended family. The pay out amounts will usually vary between R5000 and R50 000 (although other available choices can be purchased) as per your prerequisite and you may further add alternatives such as payment for a tombstone and the provision of groceries, for your spouse and children, for up to 12 months at a value of R1000 a month.
The exact amount insured for is payable immediately on the submission of the required documentation and is normally paid in your banking account within Two days of submitting documentation. The payment is free of tax. Due to the cost of memorials, today, it would be a good idea to enter a funeral cover of not less than R10 000, which will contribute towards a dignified funeral service. If it is anticipated that the funeral will be attended by many mourners, which event will last more than a day and involve the feeding of the funeral guests, it would be preferable to enhance the insurance payout level to that which you believe to be suitable. As a result of high cost of funerals, you could choose to also include your parents and or your parents in law in the funeral cover policy. Such action will pay for their burial expenses and afford them a dignified burial. There is usually a requirement of a tombstone and the cost thereof may also be insured for as portion of the main policy up to a worth of R10 000. Should you be concerned with the welfare of ones own after your passing you could add an optional grocery provision clause to the primary funeral cover policy.
This website, https://www.instantlife.co.za, offers a lot of information on funeral cover. Click the link to visit there in order to find all the information you could possibly desire!