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Choosing the right funeral cover for your family

15 May 2024
4 minute read

Your family needs funeral cover to ensure loved ones can have a respectable funeral, without any financial stress! With so many funeral cover options available, choosing the right funeral policy for your family can be complicated! We explain the most important factors to consider when comparing and selecting funeral insurance to help you choose affordable family funeral cover that suits your family’s needs and your budget. 

Your family’s needs first: questions to ask when buying funeral cover

The first set of factors you need to take into consideration when comparing and selecting family funeral insurance is your family’s needs. This includes how many family members need cover, how much cover they need, do they require additional benefits and affordability.

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How many family members need funeral cover?

Make sure you answer this for your family and any extended family members you are close to. South African funeral policies offer funeral cover for extended family members, such as siblings, uncles and cousins, as well as parents, spouses, and children. The number of family members that can be covered is limited, although usually enough to ensure all those who need cover can be covered on one family funeral plan. 1Life Insurance funeral plans allow for up to 16 family members to be covered on one policy.

How much funeral cover does each family member need? 

Your funeral policy pay-out should cover the costs of the funeral, including a coffin or casket, burial plot, service and gathering for family and close friends. Respectable funerals cost upwards of R30 000, more if you are opting for large gatherings or a burial plot in a private memorial park.

South African funeral policy regulations allow for sums assured on funeral policies of up to R100 000 per member, as of 2024, although many insurance companies place limits such as a maximum sum assured of R50 000 per member. There may also be limits on the cover amounts for young children, such as a maximum sum assured for children under age 6 of R20 000.

Do you require any additional benefits and will they cost more or are they included with the funeral policy?

Additional benefits can include a grocery benefit, memorial headstone benefit, repatriation service, transport benefit and cashback. These benefits can really help your family in the weeks and months after a loved one’s passing. But, you may pay extra for family funeral insurance benefits! Work out the value the benefits offer and compare it to the cost to see if they offer good value.

You should also keep in mind that benefits come with terms and conditions, and the benefits may not apply to every member. Check these when you compare policies and see which benefits you and your family need.

Are family funeral insurance policy premiums affordable?

Your funeral policy will pay valid claims for members covered. One of the requirements for a valid claim is that premiums are paid when they are due. It is critical that your premiums are within your budget so you can pay them each month. Compare prices and benefits of different policies to see which offers the most suitable and affordable cover when making your choice of a family funeral cover policy!

Choosing a funeral policy and an insurer

The second set of factors to take into account when comparing and choosing family funeral insurance is the product and services different insurance companies offer. You need an insurer who offers affordable cover that is tailored to your family’s needs. Your funeral policy should also be easy to understand, buy and manage. You need to know exactly what your policy covers and what terms and conditions apply, such as any waiting periods. Your insurer must explain these clearly to you, and they must be stated on your policy document. Insurance companies should also explain insurance terms in a glossary on their website.

Finally, make sure your insurer pays valid funeral claims quickly! Funeral costs can add up very soon after a family member passes. When your funeral cover policy pays valid claims quickly, you can settle these bills and spend your time with family and friends, rather than worrying about how you will afford to pay for a funeral. South African insurers have a record of paying valid funeral cover claims quickly and in full, often within 24 hours. In 2023, South African insurers paid R599 billion in claims!

Affordable family funeral cover

1Life Insurance offers affordable funeral cover policies for you and your extended family that are easy to buy and easy to manage! You can save 40% on monthly premiums if you buy your policy online, and you can manage your policy on the online policyholder services portal and WhatsApp service centre, safely and in your own time! Importantly, 1Life Insurance pays valid funeral cover claims* within 24 business hours, often faster.

Your family covered

Funeral insurance is designed to offer you and your loved ones funds at a time when you need them most. Choose a funeral policy from a trustworthy insurer that allows you to cover your family at an affordable premium so you and your loved ones can share memories and say a respectable farewell.

* All policy terms and conditions must be met for valid claims to be paid

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