Ironically funeral cover can be added as an option to life insurance, or it can be entered into as a stand-alone product or service, made available from many insurance companies 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 per month, as a basic solution. There are several options to be considered in this form of product, depending on the needs you have of a funeral cover policy. You might insure yourself only, or you may furthermore, also insure your family members and even your extended family. The pay out sums will normally vary between R5000 and R50 000 (although other available choices can be obtained) as per your necessity 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 per month.
The total amount insured for is payable without delay on the submission of the required documentation and is normally paid in your banking account within 48 hours of submitting documentation. The payment is free of tax. Because of the cost of funerals, today, it would be wise to enter a funeral cover of not less than R10 000, which will provide for 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 better to enhance the insurance payout level to that which you believe to be appropriate. As a result of high cost of funerals, you could choose to also include your mother and father 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 ordinarily a requirement for a tombstone and the cost thereof can also be insured for as portion of the main policy up to a worth of R10 000. Should you be concerned about the welfare of your family after your passing you could add an optional grocery provision clause to the main funeral cover policy.
Samson is actually an expert on funeral cover, amongst their particular most popular websites is https://www.instantlife.co.za. This website provides a great deal of information about funeral cover.