Looking for a funeral policy that protects you and your family is possible. Furthermore, you can do this under one premium depending on your insurer. However, when it comes to family funeral cover plans there are a few things to keep in mind. Here is what you need to know.
Who can you cover?
When it comes to funeral cover in South Africa, insurers understand how complex families are. Therefore, they have made it possible for someone to cover their immediate family, in-laws, adoptive children and extended family members. Even if it means covering that uncle or cousin that you have not seen in a while. As long as you have the necessary documents or information to include them in a policy and your premiums are kept up to date. Remember to check the terms and conditions of your policy to see how many people you can include under one policy.
How much cover can you get?
Understanding the breakdown of costs when it comes to organizing a funeral in South Africa can give you a better understanding of just how much cover will be enough for you. Furthermore, it will help you find an insurer who can cover you adequately. You can choose to each have a policy that can range from a minimum of R10 000 - R100 000 in South Africa. However, when it comes to covering children under the age of 18 years old, there may be a cap which insurers are legally required to follow.
Other considerations
While most funeral covers do not require that you undergo a medical examination, there may be some limits that are applied based on age. For example, there is a limit on the cover amount children and senior citizens can get. By law, children under the age of 6 years old can be covered for R10,000 and children between 6 - 14 years old can receive a maximum cover of R30,000. Senior citizens can be covered once they have exceeded the waiting period.
There is also a waiting period that you need to keep in mind that comes with all funeral plans. During the application process, the waiting period will be explained by your insurer or an agent. The waiting period is a protective time frame that is put in place by insurers to protect themselves from high-risk individuals.
What this means is that when you have taken out a policy, you will have to wait six months before placing a claim. It is important to be honest at all times when it comes to the application process to avoid having a claim denied, especially when your loved ones need it the most.
