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Will You Be Able to Afford Your own Funeral?
Will You Be Able to Afford Your own Funeral?
16 Nov 2020

At some stage, we have all thought about the day we die or how our funeral would be. But have you considered the cost of a funeral and whether you have the necessary steps in place to help your loved ones cover the cost?

The basic funeral checklist

Some costs are inescapable when it comes to burying someone, even if you opt for a simple burial. Having an idea of what it may cost you can help you prepare better by choosing the right policy that can help you bury a loved one or yourself with the dignity you expect. Some of the expenses that come with a funeral are:

 

Basic service fees. These are charged by a funeral home to start the process of handling the burial or cremation process.

Charges for other service and merchandise. Funeral parlours differ and will come with a range of costs that include things such as transporting the remains, embalming or other preparations, body viewings, memorial services and graveside services.

Caskets or cremation. You need to consider the costs of a casket that can range from R8,000 to R50,000 or more. The cost of cremating a body can be at R5,000 with an additional fee of R6,000 to spread the ashes in certain areas.

 

The venue and catering

The average cost of a South African funeral can range anything between R23,500 - R86,000. The more elaborate the funeral, the higher the cost.

For people who are considering a venue to host a memorial service, will have to consider the cost of hiring a venue which could be anything between R500 -R10,000 or more. Hiring a tent can cost between R500 - R5,000. Catering costs can vary based on how many people will be in attendance.

 

The biggest cost

The largest expense you or your loved ones can face when it comes to taking care of funeral costs is not having a policy in place. Out of pocket expenses can prove to be crippling for many families that want to bury their loved ones with dignity.

 

Choosing a policy such as the MiWayLife life insurance policy that comes with a built-in funeral cover to the value of R50,000 means that you will have the expenses of your funeral covered with enough left over for your loved ones to live a life without you. It's a financial safety net that gives everyone peace of mind to ensure that they remember you on the day of the funeral.

 


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Terms and conditions apply. Eligibility, cover and benefits are determined on individual risk profile. MiWayLife is an authorised FSP (No. 45741) and its product offering is underwritten by Sanlam Life Insurance Limited, a registered long-term insurer. MiWayLife is a division of Sanlam Life Insurance Limited - Reg No. 1998/021121/06