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Young parents are looking for affordable funeral cover that pays valid claims quickly! That’s what you want for you and your family, so that when the time comes, funeral expenses don’t place any extra financial strain on already stretched budgets. Choose the right insurer, the right amount of cover and make use of smart ways to save on funeral insurance premiums and your family funeral cover will be affordable!
Choose an insurer that offers the most affordable funeral cover
Funeral cover policies pay a sum assured for valid claims that can be used to pay funeral expenses. Funeral costs can easily reach R30 000, often more. Not many South Africans have this amount of money on hand, especially if you are caring for your young family. The good news for your budget is that parents can take out affordable funeral cover, with many insurance companies finding ways to keep premiums low. For example, at 1Life Insurance, a licensed South African insurance company, you can save on premiums if you buy online!
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Keeping funeral cover premiums affordable
There are three main ways to keep your funeral cover premiums affordable!
1. Select an appropriate sum assured
You want your loved ones to have a respectable and beautiful send-off. This doesn’t have to mean an elaborate funeral and service with hundreds of attendees and an expensive hand-carved coffin! You can keep costs low by selecting affordable funeral service options. This means you can keep your sum assured lower on your funeral policy, which will mean lower premiums! For example, you will pay less for cover of R30 000 than you would for cover of R50 000! Remember, you can always increase cover over the years as your earnings increase!
2. Cover all family members on one funeral policy
It is cheaper to pay one premium for funeral cover than several premiums for several policies because each policy will have an administration charge included in the premium. Make sure your policy allows for family and extended family members to be covered and add these to your cover as additional members.
3. Ask your insurance company how you can save money on premiums
While insurance companies are unlikely to negotiate premiums, they may offer ways to save such as by purchasing funeral cover online, which is quick and easy! Always ask so you can get the most affordable funeral cover!
More ways to make funeral cover affordable
There are two final ways to keep family funeral cover affordable and within your budget constraints – use the benefits and loyalty programmes! While these won’t reduce your premium, they will help you save on funeral costs and other monthly expenses, which can help you save money on other items so you have the funds you need in your budget to pay funeral insurance premiums, and a little more!
Funeral insurance benefits
These can include services such as:
- Repatriation service
- Memorial headstone benefit
- Grocery benefit
These services may be offered at no additional premium, and because they are included you won’t have to take them into account when working out how much cover to take. This means you will need a lower sum assured, which will mean you save on premiums! Always ask your insurer what benefits they offer.
Loyalty programmes
These can help you save on monthly bills such as programmes that offer vouchers or savings on groceries! Ask your insurance company what loyalty programme they offer and how you can use it to save money every month.
1Life Insurance offers tailored funeral cover for up to 16 additional members
1Life Insurance has been changing lives for nearly two decades with flexible policies that can be tailored to your needs and budget. 1Life Insurance’s affordable funeral policies can cover up to 16 members with sums assured of up to R50 000 per member. You can buy funeral cover online and save 40% on premiums, as well as access and manage your policy safely and conveniently in your own time on the online policyholder portal and WhatsApp service centre.
Affordable funeral cover that meets your needs
You can cover your family’s funeral costs by taking out affordable family funeral cover that helps you stick to your budget! With the best funeral insurance for you and your loved ones, you will have the funds to you need to pay for a beautiful funeral. Talk to 1Life Insurance today to find out how you more about our affordable and flexible funeral insurance.