There is a waiting period for funeral cover regarding natural death is normally between 6 and 12 months. During this waiting period, you can get a waiver with death resulting from an accident. If you have a pre-existing condition and a bad prognosis, the normal waiting period will apply.

You can also find policies which have pensioners’ plans. They provide government grant recipients with easy access to funeral cover. They have affordable premiums and provide adequate cash benefits to cover funeral costs.

The plans usually have no age limit and no medical exam is required. Premiums are deducted from state grants, saving pensioners the hassle of monthly payments.

However, for those of you in the peak of health, it’s tough to even think about death. Why should we think about death, you say, that’s only for the old folk.

You should always be aware that death can come at any time to anyone, no matter what age. It’s kind of stating the obvious because, as everyone knows, death is a certainty for everyone.

Costs and grieving a bad combination

It may indeed be obvious, but it still needs stating. Most people leave taking out a funeral policy until the last minute, when they don’t realise there is a waiting period for payouts. So, even though you may have departed the earth, your family and loved ones are left behind having to cope with the massive funeral costs while grieving. Not a pleasant time for them indeed.

Maybe this pricks your conscience and makes you think: “Hang on. I’d better investigate this funeral policy business. It wouldn’t be fair on others.” Sensible thinking indeed. Maybe if you’re a son, you should take out a policy for your dad or mum.

You can get multiple cover for everyone, which is very practical and very thoughtful. It doesn’t leave anyone with the burden of organizing and paying funeral costs.

There is a waiting period for a reason. This is to prevent people on their deathbeds from suddenly applying for cover. This obviously makes no business sense for the provider, and every company is a business that must make profits otherwise they wouldn’t be in business.

The fact that virtually all policy providers pay out in the event of accidental death within 24 hours is a great move on their part.

It’s the term, not the premiums!

It is also important to note that regarding waiting periods, it is the term that matters, not the number of premiums paid!

Some funeral policy providers – there are many in South Africa – claim quite boldly that they don’t have a waiting period with their policies.

This is very misguiding. If you read the fine print in their ads, you’ll notice that they cover a very small amount, nothing like a normal policy holder’s family would receive. Also, they don’t provide after-funeral expenses to provide for families in any way whatsoever.

People must realise when something sounds too good to be true, that’s normally the case. As stated above, there is a reason why there is a waiting period.

You’ve got to find out everything you can about providers and ensure there is no funny business with the company or with the payouts. Having done your homework, you and your family can rest assured that all will be in order.

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