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Choosing affordable funeral cover in South Africa

29 November 2022
6 minute read
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Are you tired of sifting through funeral cover quotes, feeling overwhelmed and unsure of what to choose? Look no further! In this guide, we will walk you through the process of selecting affordable funeral cover in South Africa.

Finding affordable funeral cover can be daunting, but with our expert tips, you'll be equipped to find the most suitable, budget-friendly funeral policy for you and your family. Don't let the fear of funeral costs weigh you down any longer. Take control of your future and embrace the peace of mind that comes with knowing you've made a wise investment in your family's financial security.

Get 40% discount on your monthly funeral cover premiums if you buy online.

Unveiling the true cost of funerals: A comprehensive breakdown

Funeral costs in South Africa vary widely depending on factors such as location, cultural practices, and personal preferences. They may include expenses for the casket, burial plot, funeral services, flowers, transportation and other related costs. On average, a modest funeral can cost between R15 000 and R30 000, while more elaborate funerals can reach R50 000 or more. Considering the potential financial strain, finding affordable funeral cover is essential.

How to find affordable funeral cover in SA:

  1. Get quotes from a range of providers: Compare quotes from multiple insurance providers to find the most affordable funeral cover options. This will help you identify the best policy for your needs and budget.
  2. Adjust cover amounts to make your cover more affordable: Consider adjusting the cover amount to fit your budget while still providing adequate protection for your family. Ensure that the policy you choose provides a balance between affordability and the cover you need to give your loved ones a dignified send off.
  3. Evaluate the policy carefully : Premiums and cover amounts are essential, but other factors should also be considered when buying a policy. These include benefits like repatriation services, premium increases, waiting periods, policy maintenance, claims processes and pay-outs, ease of purchase, and the number of family members you can cover.
  4. Read all policy documents before signing up: Carefully review all policy documents to understand the terms and conditions of your chosen funeral cover.
  5. Seek assistance from trusted sources: If you have any questions or concerns about funeral cover, consult brokers or advisers for guidance. They can provide valuable insights and help you make the best decision for your unique circumstances.

1Life Insurance’s affordable funeral cover in South Africa

Buying funeral cover online from 1Life Insurance is quick and easy and you can do it anytime and anywhere. Get a funeral cover quote in under 3 minutes and buy cover for you and your family in just 10 minutes. You’ll also save 40% on your premiums when you buy online.

1Life Funeral Cover policies pay out up to R50 000 per member, with cover available for main members, including spouses or partners, parents and children aged between 14 and 21 years as well as extended family members. Qualifying claims are typically paid within 24 hours of approval.

Additional policy benefits include:

  • Grocery benefit: if the main member passes away his/her family will receive a R6 000 grocery benefit
  • Memorial benefit: R5 000 is paid out to assist with buying a headstone for the unveiling
  • Repatriation service: a repatriation service is offered to transport the deceased from place of death from any SADC country and adhere to cultural requirements in this respect

Conclusion

In times of loss, funeral cover provides much-needed financial protection for families, including children, parents, in-laws, and extended family. Funeral policies help ease the financial burden associated with funeral expenses and allows loved ones to focus on grieving and healing. In South Africa, funeral costs can quickly add up, making it crucial for individuals to find affordable funeral cover that meets their needs.

By following the tips outlined above and considering factors such as policy benefits, premium increases, waiting periods, and claims processes, you can make an informed decision and choose the best policy for your needs.

Take the next step towards securing affordable funeral cover in South Africa by visiting www.1life.co.za/buy. Get a quote, buy your cover online, and experience the simplicity and peace of mind that comes with choosing 1Life Insurance for your funeral cover needs.

The views and opinions expressed in this article are those of the authors and do not necessarily represent or reflect the views of 1Life Insurance or its employees.

We answer your questions about our products and services! 

What factors determine the cost of funeral cover in South Africa?

Your premium depends on your age, the amount of cover you buy and the number of additional family members that you insure on your policy. Remember, if you buy your funeral cover online with 1Life Insurance, you will save 40% on your premiums!

Is repatriation service included, and what does it entail?

1Life's repatriation service provides for the transportation of the body from place of death, to place of burial. This benefit is only available within the borders of South Africa. Any person listed as a member on the policy qualifies for this benefit.

Repatriation will be provided even if death occurred during the waiting period for natural causes provided that the policy is active and paid to date. The deceased must be an insured life on the policy.

How can I save on funeral cover premiums?

You can save on funeral cover premiums by getting your funeral insurance online in just 10 minutes at a place and time that is convenient for you. This comes with the added bonus of getting a 40% discount on your monthly premiums when you buy online.

Can I cancel or adjust my funeral cover policy if my circumstances change?

Yes. However, it is important to note that risk products like life insurance and funeral cover do not return premiums paid if they are cancelled unless they are in the cooling off period (31 days from the date of commencement). Risk products are intended to protect you and your family against illness or death and to cover expenses such as funerals.

You can, however, reinstate your policy if your policy was cancelled less than 12 months ago. If it was cancelled more than 12 months ago, a new policy needs to be taken out.

What happens if I miss a premium payment?

1Life Insurance will advise you via SMS when a debit order has been returned by your bank. There is a grace period of 31 days if you miss a payment, so you have 31 days from when the premium was due to make up the missed payment. If you don’t catch up and pay your premium, you and your family might lose their cover and claims might not be paid.

Can I make my funeral policy more affordable?

Yes. To make your funeral policy more affordable, compare quotes, tailor the coverage amount based o your affordability, opt for flexible premiums, personalise benefits, and utilise cash back or paid-up options. Additionally, consider policies with premium waivers for certain situations to ensure cost-effectiveness while maintaining adequate coverage. Regular policy reviews are also recommended to adjust to any financial changes.

What is the maximum funeral cover allowed in South Africa?

In South Africa, the maximum amount of funeral cover allowed per insured individual per policy is R100,000. This limit is applicable to each policy separately.

Do you get your money back if you cancel a funeral policy?

If you decide to cancel your funeral policy, it's important to keep in mind that you typically won't receive a refund of the premiums you've paid. Funeral policies are not meant to be savings or investment products, and therefore, they don't accumulate cash value that can be refunded upon cancellation. However, some policies might have a 30-day cooling-off period that allows you to cancel the policy and receive a full refund of any premium paid, provided that no claims have been made. To know what applies in your specific case, it's essential to read and understand the specific terms and conditions of your policy.

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