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Funeral Cover for extended family helps to pay the costs for a family member and relieve the financial burden on your family without the need for multiple policies.
It provides the same kind of cover by paying a lump sum upon official proof of death, so you can make sure your loved one receives the dignity and respect deserved during this time.
After you submit the correct documentation and it is approved by the Funeral Cover provider, money will be paid out to your beneficiaries within 48 hours. Once they've received the money, they have full control over how to spend it on the funeral and related expenses.
Different policies offer various levels of cover to suit people's individual needs and budget. You need to check if this type of cover will be available before you sign up for a policy, as some providers don't offer this option.
Most companies allow you to downgrade your plan, so if your budget does become smaller, this can be an option. And if you can't downgrade, you can cancel the policy and take out a new one after comparing.
Most Funeral Cover policies provide cover for an existing policyholder after the age of 65, but won't charge premiums any longer. If you have family members who are reaching retirement age or are dependent on you, and who haven't ever signed up for Funeral Cover, you can add them to yours.
This extends to spouses and children (sometimes age limits also apply here), as well as parents, parents-in-law and domestic workers. However, if these extended family members are over 80 years of age, you'd have to disclose this and discuss their addition to your policy with your insurance provider as most elderly family members receive cover until the age of 75.
If you had to be buried, would your family have enough disposable money to pay for your funeral? Would the same be true for you if one of your loved ones passed away? If your answer to one or both questions was no, it's advisable to do your research and find a policy that best suits your family's needs.
Please note: Not all partners on Hippo.co.za currently offer Funeral Cover for Extended Family, and that the information in this article is provided for informational purposes only and should not be construed as financial, legal, or medical advice.