The answer is YES.
The economic challenges that we face have seen a shrinkage in most household disposable incomes. Many people have been forced to reprioritize their expenses, and one of the most common “budget cuts” is directed toward funeral insurance expenses. Whilst this makes sense in the short term as this frees up some cash for the household, it creates an opportunity for doubt and uncertainty due to the lack of a financial safety net in the unfortunate event of a death in the family.
As a funeral insurance service provider our advocacy for funeral insurance coverage may appear self-serving, however, the reality still exists that funeral insurance is a necessary expense that should be kept in the budget. The following article breaks down what you need to know about how a funeral insurance premium is a good financial investment that helps you “save.”
What is a funeral insurance cover in the first place?
Funeral insurance cover is a form of insurance that pays a specified amount of money in the event of a death, ensuring that the costs of a funeral will be covered so that family members do not have to struggle financially at this difficult time.
- Funeral insurance works in much the same way as other types of insurance. You decide how much funeral cover you want to buy and then you pay a monthly premium.
- You choose who to cover.
- Some funeral insurance policies also give you other benefits like burial repatriation, grocery benefits, or cash back.
- If you or your loved ones die, the money is paid out.
- A decision to take out funeral insurance should form part of a proper financial plan.
Gadziriro/Lungiselelo Funeral Plan also gives you more coverage and more choices at an affordable premium. You can choose the features and level of coverage you and your family need and can afford, and there’s the option of a savings benefit.
- Cover of up to US$5 000
- Premium holidays (you are exempted from paying premiums)
- Cover for up to 6 family members
- No medical or blood tests required
- Funeral cover that pays out in 48 hours
- Choose between individual and family packages
- Choose who you want to cover
- Choose how much you want to pay
- Choose the plan that’s right for you
Get covered against the financial burden of a funeral today. Sign up for Gadziriro/Lungiselelo Funeral Cash Plan