In this article we explore what you need to know about funeral cover to ensure that you have the funds you need for loved ones' funeral expenses. Funeral cover provides financial support to your family, alleviating the burden of funeral costs when you or a family member passes away. By asking these fact-finding questions for funeral cover, learning how it works, how much cover you can obtain, and how your premium is calculated, you can make informed decisions when buying funeral cover.
Section 1: Understanding funeral cover: how does funeral cover work?
Funeral cover provides financial assistance to cover the expenses associated with a funeral. It offers peace of mind to individuals and their families by ensuring that funds are available during a time of loss and grief.
When you purchase a 1Life Funeral Cover policy, you pay monthly premiums to 1Life Insurance, per your policy schedule. In the event of your passing, or the passing of a family member, the policy pays out a lump sum benefit of up to R50 000 per member. This can be used for funeral expenses, including burial or cremation costs, tombstones and other related expenses such as catering and venue hire. With the right funeral cover in place, you know that you and your loved ones will be financially protected during a difficult time.
Section 2: Fact-finding questions for funeral cover
At 1Life, we want you to make informed decisions about your funeral policy so we compiled this list of questions to consider when exploring 1Life Funeral Cover. These questions cover important aspects of your policy such as waiting periods, premiums as well as product features and benefits. By asking these questions, you will equip yourself with the knowledge you need to make confident and well-informed choices for the financial security of your loved ones.
How much funeral cover can I get?
1Life Funeral Cover policies offer a pay-out of up to R50 000 per member. Children under the age of 6 years are covered up to R20 000 and children between 6 and 13 years are covered for up to R50 000.
How is my funeral cover premium calculated?
Funeral cover premiums depend on your gender, age, the amount of cover you buy and the number of additional family members you insure, as well as their ages.
What is the waiting period for 1Life Funeral Cover?
There is no waiting period if someone dies an accidental death. In the case of natural death, such as from an illness, there’s a waiting period of six months and six paid premiums.
Who can I include on my 1Life Funeral Cover policy?
Policy members can include 2 spouses, up to 5 children (up to age 21), and 9 extended family members, including 4 parents or parents-in-law at, an extra cost per member. *
How do I make a claim on my policy?
Simply follow these steps to submit a claim:
- Call the claims department at 0860 10 51 96, and one of our helpful claims consultants will assist you.
- The consultant will explain what documents are required to process the claim. These include (but are not limited to) a completed claim form and a certified copy of the deceased’s death certificate
- Email the forms back to us on [email protected]
How quickly are claims paid?
1Life uses RPA, or Robotic Process Automation, to settle qualifying 1Life Funeral Cover claims within 3 minutes!
Top tip: Take the time to understand the terms and conditions of your funeral cover policy. Read the policy schedule as well as the policybook on our website. You can retrieve your policy schedule on the online policyholder portal as well as the WhatsApp service centre.
Understanding what you need to know about funeral cover and the questions to ask when taking out funeral cover is essential to ensure you make the right decisions for the financial well-being of your loved ones. By considering these questions you have peace of mind knowing that you have financial protection in place if a policy member passes away.
Section 3: Why 1Life Funeral Cover?
1Life Funeral Cover includes these benefits*:
Grocery benefit: In the unfortunate event of the principal member's passing, the nominated beneficiary on the policy will receive a R6 000 grocery benefit.
Memorial benefit: 1Life has partnered with Metgran to bring you further peace of mind. We will provide you with a headstone through Metgran to the value of R5 000, on the anniversary of a successful claim.
Repatriation service: We offer a repatriation service that transports the deceased from the place of death in any SADC country to South Africa and adheres to cultural requirements.
Read our product FAQs to learn more about 1Life Funeral Cover.
If you are ready to take the next step, buy your 1Life Funeral Cover online in minutes and save 40% on your premiums.
*Please note that terms and conditions apply, and these additional benefits are available to members aged 14 years and older.
*There needs to be insurable interest between the principal member (you) and the additional members added onto your funeral policy. This means that there needs to be a recognised relationship between the policyholder/owner/principal member and the life assured at time of the commencement of the policy. Life insurers consider everyone to have an insurable interest in their own lives as well as the lives of their spouse and dependants. Where no insurable interest exists, the applicable benefits will be void from the commencement date.
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.