Life cover versus funeral cover – are they the same or are they ... - IOL
Financial planning is vital if you want to protect your family's future for a time when you are not around and getting the right insurance cover is an important step. Ester Ochse, product head, FNB Integrated Advice, said that life cover and funeral cover are important in their own right, but each plays a very different role in how it can benefit a family. "In the unfortunate event of death, beneficiaries can access their funeral cover and receive pay-outs within 24 hours, while life insurance offers dependants long-term financial support," Ochse said. The death of a loved one is emotionally difficult and it can also add financial strain to the family and friends that are left behind. According to Ochse, the average funeral in South Africa costs about R35 000 and therefore it is important to plan for it and to get the right cover. More on this People can take out a funeral plan to take care of the expenses associated with the funeral, such as a coffin, transport ...