You want your funeral policy to cover the costs of a dignified funeral to make sure your family doesn’t incur any extra expense when you pass. And you need it to pay a claim quickly! How do you find the best funeral insurance policy for you? Our comprehensive guide shows you how!
Finding the best insurance policy
There are two key steps to take, to find the best funeral insurance policy for you and your family:
- Know what you need from a funeral policy
- Find an insurer who offers funeral policies with the cover and benefits you want
Know what you need from a funeral policy
You know you want cover to make sure your funeral expenses are met, but you will also need to decide how much cover you need, if you need cover for family members, and perhaps a few extra benefits! Here are some questions to ask:
Is the cover allowed on the policy enough to meet your needs?
Your cover amount should be enough to cover the costs of a funeral. This will include the cost of a casket or urn as well as burial plot costs and the burial service fees, or cremation fees, including undertaker and gathering costs. Your funeral policy must allow you to take as much cover as you need for a respectable funeral. You’ll need to put a rand amount on this, such as R30 0000.
Can you cover family and extended family members on the policy?
If you want to make sure your immediate family members, and extended family members such as grandparents, aunts and uncles, are also covered, you need a funeral policy that can cover these relatives. When you cover family members on your policy you avoid future situations where you have to pay funeral costs for family members out of your own pocket. It is also cheaper to take out one policy for family members than having a policy for each one as you save on admin costs and debit order bank charges!
You may want funds for groceries for your family for a period after the funeral, or for a memorial headstone in the months after your passing. These benefits are a value add - and will really help your family after a death, so it makes sense to look for a policy that includes them.
Find an insurer who offers you the best funeral policy
When you’ve worked out what your funeral policy should cover and the benefits you need, you’re ready to look for an insurer who can offer you this policy! Look for an insurer that:
- Pays claims quickly. And with the minimum of fuss and bother. 1Life Funeral Cover pays all valid claims within 48 hours, often faster. We also pay claims directly to the principal member or the policy beneficiary so you can pay the funeral parlour or undertaker of your choice.
- Allows you to cover family members and extended family members. 1Life allows you to cover up to 16 additional family members including grandparents, aunts, uncles and cousins.
- Offers a range of cover. 1Life funeral policies offer each member cover from R5 000 up to R50 000!
- Includes benefits in your policy. 1Life Funeral Cover policies include a memorial benefit, grocery benefit and repatriation service. Plus, 1Life Rewards offers monthly grocery, health and beauty coupons, cashback when you dine at selected restaurants or get take-aways and discount shopping vouchers from leading retailers. You could save up to R3 000 a month, sometimes more! That’s way more than your insurance premiums!
- Offers online quotes. You can get a 1Life Funeral cover quote online or on the 1Life WhatsApp service centre in a matter of minutes! And you can save 39.5% on premiums if you buy the policy online!
- Let’s you take out a policy quickly and manage it in your own time. Even though funeral cover is really important, you don’t want to spend too much time buying and managing your policy. 1Life’s WhatsApp service centre and online policyholder servicing portal, make sure getting policy information and updating it is convenient, safe, quick and easy!
- Is reputable. You want an insurer who is a registered Financial Services Provider (FSP) with the Financial Sector Conduct Authority as this means they have enough capital to pay claims and offer good service. Don’t ignore this in your decision. There are, sadly, many businesses offering funeral policies who turn out to be fraudsters. Always check that your funeral cover policy insurer is a registered FSP. 1Life is a registered FSP and has been offering funeral cover policies and paying claims since launching in 2006.
Take some time – it’s important
Taking a few minutes to go through all of these will ensure you choose the best funeral cover policy. Knowing you have cover for a funeral ensures the difficult time of death is made a little easier.