Your guide to funeral cover

Funeral cover is often something that we don't think about. It's scary to plan for something as awful as death but it is essential to plan for the costs associated with your funeral.
 
A funeral can cost anything from R7,000 to R30,000 – that's not small money and getting the cash together to give your loved one an adequate burial is the last thing you want to worry about when you have just suffered a loss. Get funeral insurance to ensure that when your family needs to organise a a funeral, they or you have enough money to pay for it.
 
Whether it's your own funeral or the funeral of a loved one like your parents or other immediate family, there is a funeral cover option out there to suit your needs.
 
Funeral cover starts for as little as R36 a month with our partner Metropolitan and for this small amount you will get up to R30,000 cover to use for your funeral needs.
 
There are a few options to consider when taking out funeral cover:
 
- Do you want funeral cover for yourself?
- Do you want funeral cover for yourself and your immediate family?
- Do you want funeral cover for your extended family? Extended family means mother, father, brother, sister, aunt, uncle and even your in-laws
 
The option you choose will depend entirely on you but it should give you peace of mind knowing that you and your family are covered when that sombre day comes.
 
Up to what age can you get covered under a funeral policy?
You can enter the policy till the age of 64. If you are added as a parent on someone else's policy the maximum entry age is extended to 84. This is however extremely expensive.
 
Are there any funeral policies available to people 85 years and over?
As a rule it is virtually impossible to find a company that will accept a client at this advanced age. Insurance is all about risk pooling and pre-funding. As age rises so too does the mortality rate (likelihood of the person dying). Therefore octogenarians are a bad risk for insurers all round, as in general they would be part of the pool for a shorter period than, say a 30 year old.
 
What are the main exclusions of a funeral policy?
Suicide or attempted suicide is generally excluded in the first couple of years (generally two) of a policy.
 
There may also be a waiting period attached to the main policyholder and waiting periods on any dependents too. Generally these waiting periods can vary from three to six months. It's important to ask your funeral cover provider or broker if any waiting periods or other exclusions apply.
 
Am I already covered?
It's possible. Often we take out accounts and other financial products that may have bolt on funeral cover as an extra benefit. Check if you have funeral cover through any policies through work or if one of your clothing accounts offer funeral cover. Be careful, this cover may not be enough so it may pay to speak to a registered financial advisor to make sure you have enough cover in the event of a death in your family.
 
I want to complain about the service I got from a funeral cover provider. What do I do?
You can lay a complaint with the Ombudsman for Long Term Insurance.
 
OK, how do I get a policy through Justmoney?
Justmoney itself doesn't offer funeral insurance, but our partners Old Mutual, Sanlam and Metropolitan do. Getting a funeral cover plan is easy – simply click here.