subject: Funeral Policies Have A Very Long History [print this page] Funeral policies have a long background indeed a tradition in South Africa. Families in the past believed emphatically in funeral policies and would obtain their month to month stamp (policy premium) consistently and insert it into their funeral book which was safely stored again.
These days, we have fashionable systems negating the necessity for stamps and books and funeral policies themselves already went through some modification, to be more complete in options and cover. The necessity for funeral policies also continues to be as essential today, as it was yesteryear. What has also changed is the cost of funerals. A rather basic funeral nowadays will cost at the very least R10 000. Funerals, in the African traditions, being big affairs often exceeding a day in duration, can cost far more money, if the funeral goers need to be fed and accommodated, placing undue strain on family to foot the check in case of there not being funeral policies to fall back onto to. Funeral policies are affordable are available from as little as R38 monthly, which will buy you funeral cover of R10 000. So, there is little reason for people not to have funeral policies, even at the level of R38 each month. Should families be able to afford it, a family policy really should be applied for covering the main insured individual as well as the rest of the family. This is fairly affordable, but holds large benefits to the family. Should the main covered person die, the surviving spouse and children may pertain to the insurer to make the insurance plan paid up. This means that payments will fall away, but the policy rewards stay in place for the life of the remaining policy holders with some restrictions on the age of such policy holders.Additionally, there are other options that could be practiced in funeral policies, like an optional payout for the tombstone to be erected or the addition of a life policy to the funeral policy. It is fully worth your while in researching the several policies made available from the different insurance providers to learn wherever possible of the different mixtures on the market.
