To find the best funeral insurance quotes can be very time-consuming and that’s when you’re doing it right. Because funerals can be very expensive, the policy you’re looking for should pay out a sizeable amount to cover everything. Whatever the amount you choose, it should be enough to cover the interment or cremation costs, catering at the reception, a coffin (if needed), transport to the gravesite and mortician and funeral home fees.
All this being said, most standalone funeral insurance policies cover more than just the costs of the funeral. Some add medical benefits onto the policy, which pays out for any outstanding medical bills around the time of the death, and a grocery benefit, which provides financial support for the family in the breadwinner’s absence.
Funeral insurance exists as a separate policy to life insurance because it pays out much quicker than a life insurance policy would. Most will pay out within 48 hours of the death of the insured or covered family member. When comparing funeral insurance quotes, check the payment period and the requirements needed in order to claim in the event of a death. Most insurers only require a copy of the death certificate, but others will request more information should they need it. The more hoops you have to jump through, the longer it will take to pay out.
Also, make sure that the policy doesn’t come with an expiry date. Some policies fall away after the insured reaches a certain age, by which time the policyholder should be able to cover himself or herself.
Look for accidental death benefits when looking for funeral insurance quotes. As an accidental death is not foreseeable, some funeral cover providers pay out double the funeral insurance policy amount. This gives the family some time to get their finances in order when the lead member of the family is unexpectedly lost, due to accidental death.
When the time comes for us to say a sad farewell to those who’ve passed on, it is a time to mourn and not to be concerned about how to pay all the funeral expenses. Funerals can cost anything from R12 000 upwards, all depending on how lavish you would like the send-off to be. There are a couple of funeral insurance companies that will offer you more than funeral cover alone, including ways and means to invest your money at the same time.
For many of us, we are only interested in a burial that is dignified without the worry; this is the reason why you should choose a funeral cover that will help you with all the finer details, freeing you up to take care of other more pressing matters.
Death and dying are not topics that are pleasant and often are avoided, but being prepared is realistic and unselfish as it frees your loved ones up from the worry of how to pay for a funeral.