Funeral policy check
Am I paying for the same cover twice?
List every funeral policy you hold. See total cover against total premium and where policies overlap.
Your funeral policies
Include cover through work, a burial society, a church group or a shop. Use a label such as Me, Partner or Mom. Nothing is stored.
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What you have
Policies
3
Total cover
R 120 000
Paid each month
R 340
R 4 080 a year
| Person | Policies | Cover | Premium |
|---|---|---|---|
| Me | 2 (overlap) | R 70 000 | R 200 |
| Partner | 1 | R 50 000 | R 140 |
Me is covered by more than one policy. Each policy pays out when the person dies, so check whether you need both. Some policies only pay for the person named, so read the cover before you cancel anything.
Money-Sense flags a household with more than two funeral policies, because the overlap often costs money without adding protection.
| Policy | Cost per R1,000 of cover |
|---|---|
| Me, Insurer or funeral parlour | R 2.80 |
| Me, Burial society or stokvel | R 3.00 |
| Partner, Insurer or funeral parlour | R 2.80 |
Cost per R1,000 of cover is a way to compare policies that pay different amounts. Waiting periods, who is covered and how the payout is made also matter. Money-Sense does not recommend any policy or provider.
Financial education, not financial advice. Money-Sense does not recommend any product and nothing here is personalised advice. Results depend on the figures you enter and on assumptions that can change. Speak to an authorised financial services provider before you make a financial decision.