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Optional Funeral Plan Benefits

Optional Funeral Plan Benefits

A funeral plan is a crucial aspect of long-term financial planning. A sufficiently flexible funeral insurance policy will have a number of options so that you can choose the level of coverage that suits you best.  However, it is not always obvious what level of coverage is appropriate. You can make the right choices by investigating the options available and discussing your cover with an insurance broker.

When choosing funeral insurance, it is important to consider how much cover is included in the standard policy, and how flexible the funeral policy is – what optional benefits are offered.

A funeral policy will generally pay out a cash amount – in the form of a lump sum, in installments, or both – in the event of the death or serious injury of the insured.

Some insurers offer funeral policies that can be customised to individual requirements. Ideally, you will be able to choose the benefit options that suit you, and not elect to pay for extraneous benefits.  When choosing funeral plan benefits, your broker should assist you in making the right decision.

Groceries

A groceries benefit can lift the burden of dealing with essential everyday expenses after the death of a family member. This is especially beneficial if the deceased is the primary breadwinner. A groceries benefit typically pays a monthly cash amount that can be used for food and other essential items, or to settle urgent expenses.

Vehicle access

Organising a funeral can be logistically demanding and time-consuming. Access to a vehicle during this time can help with arrangements, such as visiting the funeral parlour and transporting visitors from out of town. When electing to take out a vehicle access option, make sure that this benefit gives you sufficient mileage, so that you can use the vehicle to make all the necessary arrangements.

Disability insurance and life cover

Funeral policies may come with an option to cover permanent disability. This can be an excellent way to protect yourself against the loss of income from injuries or illnesses that compromise your ability to do your job, or make it impossible for you to keep working.

A life cover benefit will pay an assured sum upon the death of the insured. This is an excellent way to ensure your dependents are not left in financial difficulty in the event of your death.

Memorial

An unveiling benefit will address the additional expense of a memorial ceremony.

Broader cover

Some funeral policies include options to cover additional family members. This will usually include options for your spouse and children. Some funeral policies also allow you to cover your parents and parents-in-law.

Choosing the appropriate level of cover will depend on your circumstances and finances. When choosing a funeral policy, ensure that you are getting sufficient coverage in return for your premiums. Then maximise your cover by choosing the right optional funeral plan benefits for your needs.

Hollard Funeral provides competitive funeral insurance in South Africa. Hollard Funeral is extremely flexible, offering a number of optional funeral plan benefits to suit all of your coverage needs.