subject: The Value Of Funeral Plans [print this page] Like every insurance sorts, funeral plans have an essential function to play in the lives of our families. These insurance policies pay out a fixed cash amount on our deaths to defray any relevant costs with our burial.
Countless individuals are left behind with debt, after having to cover a funeral while it all may have been prevented by registering to any of a number of cost-effective funeral plans. Such options will payout amounts of between a few thousand Rand to a couple hundred thousand Rands, depending on the policy conditions and the value of the monthly premiums. Such payouts are effected soon after the lodging of the death certificate of the departed to the insurance provider who will pay out the first R10 000 of any claim within just 48 hours. This will aid family members to carry on with the required preparations without the stress on account of available funds. A fairly plain burial, these days, costs around R10 000, without the cost of any tombstone involved. The cost of an extended ceremony involving a lot of people who require to be fed and perhaps accommodated can readily run into thousands of Rands. Funeral plans can be found with some options to aid in meeting additional costs like that of a tombstone or some care for the family after the funeral. In this connection there is an alternative that will provide household goods to the family for a time period of up to 12 months, at a total worth of R12 000. Some businesses will assist you to attach a life policy with a valuation of R4million to funeral plans. Such funds can be paid to a named beneficiary, negating the necessity to be paid to one's estate. This frees a lot of money direct to the named beneficiary to meet whatever expenses.
It is a good idea to consider a funeral policy that will also cover your spouse and family. These plans are generally economical and will see to it that on your passing your family will be afforded funerals befitting their dignity. On your dying as the main covered person, your family may apply for the insurance plan to be made paid up, meaning no more monthly premiums with all the rewards intact.
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