Although talking about a funeral cover is a sad topic as no one wants to think about death or plan a funeral for their loved one. With that said, it's an act of service and love when you take out a funeral cover for yourself and your loved ones. Life is unpredictable and unfortunately, we can't avoid death therefore it's better to be prepared financially for when it happens. You want to give your person the perfect goodbye knowing that this may be the last time you get to say goodbye.
However, how does one choose funeral cover or even begin the process of finding funeral cover that is suitable for them and their family? Also what exactly is a good funeral cover and how do you choose which one is best for you when there are so many options available? We’ve made the decision a little easier for you. Below are some of the things you should consider when choosing a funeral cover:
How do you choose the best funeral cover for you and your loved ones?
To make sure that your loved ones don’t suffer from financial burdens when you pass, it's best to find a cover that will cover all the expenses and pays claims on time. Decide what you and your family would want to be included in the cover and find a funeral policy that offers those benefits. You want to be certain that your cover amount will be enough to cover the funeral cost.
What are your and your family’s needs, now and in the future?
Determine how many people you would probably have to cater for on the day of the funeral and estimate how much that would cost. Add up how much a coffin or urn will cost as well as burial plots and transportation. Would you wish to have a tombstone unveiling on the same day? If so, then add that to the costs as well so that your family is not left with extra costs to cover. Also, try to determine how quickly you would need the money to be available, some covers pay within 48 hours or less whilst others may take longer than that. To avoid any confusion or disappointments ask your financial adviser or burial society how quickly their policy will pay out.
How many people can you cover under one funeral policy?
You need a cover that understands that families aren't the same. Apart from children, spouses/partners, parents, and grandparents, you might also want to cover other family members such as uncles/aunts, siblings or nieces/nephews. With that said, it's important for you to find a cover that can cater for that when looking for a funeral policy. This will also ensure that you don't end up paying for the extended family out of your own pocket. It could also be cheaper to look out for bundled premiums or family premiums that cover parents and their children under one policy.
How old are the family members you’d like to cover?
You may find that some funeral covers limit the age of the people you can cover. If you are looking to cover a person older than 60, this could be expensive. Find out about the age limit before buying, however, most financial services providers are upfront about the age limit.
How much will you pay for the funeral cover?
The amount depends on the age, benefits, and the number of people that you want to cover. Make sure you answer as accurately as possible when applying and make sure you are paying for what you asked for.
This is the list of things to consider when finding an insurer that offers the best funeral policy:
- Do they pay claims quickly and that means can they payout out within 48 hours?
- Can you cover your family and extended family?
- Does the product offer a range of cover and it's not a fixed amount therefore premiums are according to your needs?
- Does it include added benefits such as grocery benefits, education benefits, cashback and accidental death cover should a loved one die suddenly?
- Does the provider offer online quotes and Whatsapp services for a quick and easy process where you can also manage your policy in your own time?
- is it a trusted, licensed and registered Financial Services Provider (FSP)?
Did you know that purchasing a funeral product from us is super easy?
You can buy via WhatsApp:
- Save 0860 933 333 as a contact on your phone
- Open WhatsApp, go to the Old Mutual contact and send ‘Hi’ as a message
- Follow the messages on the screen and choose your option
You can buy via USSD
- Simply dial *120*OMSA# or *120*6672#.
- Using this service is free for customers.
- No airtime or data costs will apply for users who dial us with an active sim card on Vodacom, MTN, Telkom, and Cell C networks
By visiting our product overview page and requesting a Call Me Back or following the prompts to purchase a funeral product online.
Use our data-free link to send us your details
You can provide us with a few details on this link - it won't cost you anything - and one of our friendly consultants will call you back.
This content does not constitute advice. Should you need financial advice please contact your financial adviser or find an adviser here.