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How much funeral cover do I need in South Africa?

When considering how much funeral cover you need in South Africa, you have to consider the costs of funerals in the country. While a quick Google search will reveal that funerals can cost anywhere between R3000 - R50 000 in South Africa, when looking at popular funeral homes, Fern Funerals offered the cheapest option for a funeral package. For a grave burial from Fern Funerals, it could set you back by about R7500. 

For more in-depth information on the cost of funerals read this blog post. 

What happens if a family can't afford a funeral?

A pauper or destitute funeral can be applicable to a person whose family members cannot afford to give the individual a funeral. There is, however, strict criteria that needs to be met for an individual to be granted this. 

Gain insight into the specific criteria and how you can go about applying for this type of funeral in this blog post. 

What is the perfect funeral plan?

The perfect funeral plan is one that meets all your specific needs or requirements at an affordable rate. When thinking about which funeral plan is perfect for you, you first have to identify what your needs are for the cover. Below are a few things you could consider when choosing funeral cover:

  • Properly assess you and your family's needs including the amount of people you think will need to be catered for at the funeral, whether or not funeral assistance services would be necessary, what the waiting period for the payout would be etc. 
  • How many people you want to include in the funeral plan (funeral policy).
    You can cover up to 21 dependents with ONE funeral plan at Meerkat. 
  • The age of the people you want to include. It's very important to note that most companies that offer funeral cover have an age limit (age restriction) on their coverage. 
  • The actual costs of the funeral cover per month
    While funerals are costly and funeral cover is essential, you do not need to be breaking the bank every month to pay for funeral cover. You should choose cover that has an adequate lump sum payout available to you or your family members that actually aligns with the cost of funerals in the country. There's no use paying a cheap monthly premium, but not having cover that can actually pay for all the costs involved with a funeral. 

Why should you consider Meerkat funeral cover?

  • We offer affordable monthly premiums starting from as little as *R45 per month. 
  • Affordable insurance coverage that will actually cover funeral costs in South Africa. You could, for example, pay a monthly premium of R45 for cover valued at R30 000.
  • Fast pay-out process. All valid funeral claims can be paid out in up to 48 hours at Meerkat.
  • Certainty of a premium. At Meerkat, unlike with other funeral cover providers, our monthly premium does not increase each year. 

    Moku Tip: Be very wary of the terms and conditions with funeral cover as many insurers will include an annual increase with your premium. 
  • Personalised cover that caters to your family's needs.

What is the maximum payout for funeral cover in South Africa?

The insurance industry has a recommended cap of R100 000 per life insured in South Africa. If you are insured for more  than this, you may be over-insured.  

Who is Meerkat?

Meerkat is a registered financial wellness company that wants to help South African consumers do MORE with their money. Our funeral policy is underwritten by Old Mutual Alternative Risk Transfer Limited, part of the Old Mutual Group.

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