Buy online
You want your loved ones to have financial stability as well as the funds to pay for a beautiful send-off when the time comes. A life cover policy can ensure the former and a funeral policy the latter. But that means you need to take out two policies, submit two claims and have double the policy admin! With 1Life Insurance’s Pure Life Plus Cover, you can combine life insurance and funeral cover in one policy!
The difference between life cover and funeral cover
Life and funeral cover policies offer different sums assured for different financial needs.
Life cover
Life insurance policies pay a sum assured to a beneficiary or beneficiaries on the death of the life assured for a valid claim. Life cover sums assured start from a few hundred thousand rands to millions of rands. The pay-out from a claim can be used to fund future living expenses such as food, housing, transport and education for many years. For example, a life policy with a sum assured of R1.5 million can be invested and pay a monthly income to loved ones. Life cover pay-outs can also be used to pay outstanding debts, such as a home loan, to ensure family members have a place to live.
Funeral cover
Pay-outs from funeral insurance policies are intended to pay the costs of a funeral service. The sum assured that can be taken for funeral policies is limited to R100 000 in total in South Africa, according to current regulations. This amount is intended to cover funeral costs, such as undertaker and burial plot fees as well as the cost of a service and gathering.
Top tip: Could you afford to give your parents the send-off they deserve? This blog covers everything you need to know about buying funeral cover for parents.
Why combine life insurance and funeral cover?
For many families, it is essential to have cover for both future family expenses if an income earner passes away and funeral expenses. Traditionally, two policies were taken to cover these needs. However, innovative insurance companies such as 1Life Insurance know that to meet customer needs, policies need to be more flexible. 1Life Insurance combined life insurance with funeral cover and offers one policy that includes both.
With one policy, there is less admin, such as needing to update banking or beneficiary details only once. In addition, the funeral cover portion pays valid claims quickly, allowing families to pay burial costs when they are incurred.
Looking for a life quote?
We'll call you!
1Life Pure Life Plus Cover: Life and funeral insurance
Pure Life Plus Cover from 1Life Insurance combines life and funeral cover in one convenient and affordable policy. You can have life cover of up to R12 million plus funeral cover of up to R50 000 for up to 16 family members! No medical exams are needed other than an HIV test. Premiums are fixed for the first 12 months.
With 1Life’s Pure Life Plus Cover you have life cover that can secure your family’s financial future when you are no longer around. It provides a tax-free lump sum to your beneficiaries in the event of the life assured's death to help them pay off debt, cover living expenses and get a quality education.
You also have funeral cover on the policy, ensuring your loved ones have a beautiful send-off. Valid claims will be paid into your bank account in 24 business hours to help the family pay for funeral and burial costs. The policy includes a R5 000 memorial and R6 000 grocery benefit plus a repatriation service.
We know how busy life can be, from work to studies and spending quality time with friends and families. You can manage your policies 24/7 on the online policyholder portal or WhatsApp service centre. Claims can be submitted and managed via email or our call centre.
1Life Insurance for all your long-term insurance needs
1Life Insurance is a licensed life insurance provider offering a range of flexible and affordable life and funeral cover policies that you can tailor to your needs and budget. You can take life cover for a sum assured of between R300 000 and R12 million at a competitive premium and save up to 13% on premiums if you buy online. Funeral cover is available for up to 16 family members with a maximum sum assured for each member of R50 000.
Protect your loved ones with 1Life’s Pure Life Plus Cover
Simplify your financial life and have the cover you need for funeral and living expenses with a policy that includes funeral cover with life insurance. You can protect your loved ones today with 1Life’s Pure Life Plus Cover – the smart way to combine life and funeral cover. Speak to a 1Life Insurance consultant today about how 1Life Pure Life Plus cover can meet your life and funeral insurance needs.
FAQs
Can I get funeral cover and life insurance in one policy?
Yes. With 1Life Pure Life Plus Cover, you can combine life insurance and funeral cover in one policy.
What does Pure Life Plus Cover include?
1Life Pure Life Plus Cover from 1Life Insurance includes up to R12 million in life insurance plus funeral cover of up to R50 000 for up to 16 family members. The policy also includes a R5 000 memorial benefit, a R6 000 grocery benefit, and a repatriation service.
Why is it important to have funeral cover?
Without the pay-out from a funeral insurance policy, family members may struggle to cover funeral expenses and may need to use their savings or take out loans. Funeral cover ensures that funeral expenses are taken care of during an already difficult time.
How do I know how much cover I need?
To work out how much life cover you need, first you need to add up all the debts your family would need to pay when you pass, including home loans, personal loans, credit cards, overdrafts, and vehicle finance. Next, calculate your family's ongoing living expenses, including food, housing, utilities, education, and other monthly costs. Ongoing living expenses and debt repayments will give you a rough idea of how much cover you need. Our quick and easy life insurance calculator can help you with the math! For a more detailed quote, speak to one of our skilled consultants or speak to a financial adviser.
To work out how much funeral cover you need, start by calculating the total cost of a typical funeral. We make this easy. This calculator provides a detailed breakdown of the expenses you need to plan for, and if you are unsure how much to budget, this blog has all the detail you need on funeral costs.
What happens if I only have life cover?
If your policy only includes life cover, you will not have specific cover for funeral expenses, which means you and your loved ones may need to cover funeral costs if a family member passes.