Buy online
You want your family members to have the funds to pay for a respectable funeral service when the time comes. But keeping up with the monthly premium can be a challenge, especially when prices of basic items such as food and transport are rising faster than salaries! The great news is that there are ways to make funeral cover more affordable, for you and your loved ones.
Understanding the importance of funeral cover
With the cost of even a basic burial and service over R30 000, the need for an affordable funeral insurance plan is great. Your funeral cover will ensure your loved ones have the send-off they deserve, and the one you want to give them.
Cheap funeral cover starts from under R100 a month, but these policies will cover the basics only, such as the cost of a coffin, transport to the burial site and municipal burial plot. These plans may also limit the number of members you can cover on the policy for instance a maximum of three.
Affordable funeral plans can allow for more additional members, such as 10, but will cost over R200 a month. However, even this may in the long run be more affordable than having to find the extra R30 000 or R50 000 to pay for the burial.
Options for those struggling to afford funeral cover
Funeral plan premiums depend largely on how much cover each member has, i.e. the sum assured, and how many members are covered on the policy. Benefits and extras such as rewards, grocery benefits and cashbacks can also increase the amount of the monthly premium. If you are struggling to afford your funeral policy premium, you can:
Reduce your premium
If you have a policy for a sum assured of R50 000 for each adult member, reducing this will reduce your premium. You can also remove some members from your funeral plan to make it more affordable. Check beforehand if any member already has cover on another policy or at their place of work, as removing these members will be preferable to removing a member who has no other cover. Insurers are aware of how important funeral cover is to South Africans and will look for ways to make funeral insurance plans more affordable.
Review your budget
It is always worth doing a budget review to see if you can cut some expenses or find extra income in your budget, or even find ways to increase your income such as by starting a side hustle. It may not seem like much at first, but even a few hundred rands a month extra can mean the difference between a respectable funeral, or an indigent funeral where the municipality makes all the decisions.
What happens if you cannot pay for a funeral?
If you have no funeral cover in place, or there was a previous funeral policy that lapsed, the family can apply for an indigent burial or cremation that is paid for by the local municipality.
Each municipality has their own criteria and application process, such as City of Cape Town and Tshwane. You should contact your local authority to find out the process, but it will usually involve an application from the family that includes IDs, death certificates and an affidavit or other proof that the family cannot afford to pay for a funeral. The municipality will provide transportation for the body, undertaker services and may provide a gazebo and limited seating for close family. The coffin and burial plot are also provided by the local authority. Municipalities try to make the services as respectable as they can within budget limitations, but the send-off is often not what the loved ones wanted.
Top tip: Always talk to your insurer about ways to reduce your premium including opting for the most basic but affordable funeral cover plan that does not include any benefits, reducing sums assured and covering only certain family members.
1Life Insurance’s affordable, flexible funeral insurance policies
1Life Insurance has been changing lives for nearly two decades with flexible funeral policies that can be tailored to your needs and budget. You can select a more affordable funeral policy that covers the basics only or opt for a funeral plan with additional benefits for you and your loved ones. You can also buy cover online and save 40% on monthly premiums. 1Life Insurance aims to change your loved one's lives for the better by making funeral cover easy to take out, easy to manage and easy to claim on! Valid, qualifying claims can be paid in minutes, ensuring your family has funds to cover the funeral costs. Policyholders can access and manage policies safely and conveniently on the online policyholder services portal and WhatsApp service centre.
1Life Insurance has been voted an iconic brand 2 years in a row, in the 2022/2023 and 2023/2024 Ask Afrika Icon Brands Awards and has been recognised as South Africa’s #1direct life insurer in the annual Swiss Re Reports for 11 consecutive years! Our policyholders are always top of mind, and in 2023 and 2022, we had the highest net sentiment in the PWC SA Insurance Index Report.
Keep your cover and take care of your loved ones
Even when money is hard to come by your funeral cover is worth keeping! Something is always better than nothing and your family is assured they have funds when they need them most. If you are struggling with budgets and think you can’t afford funeral insurance, chat to your insurer or financial adviser who can help you find a solution!