Funeral Cover Should Be No Option

Funeral cover must not been seen as an optional item in your insurance profile. Such cover is very affordable, but should you forget to take out an appropriate policy, it could impact your immediate household financially in having to afford you a dignified funeral.

There is many a tragic tale of people not having had any funeral cover and the family was left with the invoice to bury a person. In the tradition of Africa, funerals are large affairs with extended family and associates attending burials than can last an entire weekend. The funeral goers usually have to be housed and fed over the period of time and the immediate family members have to foot the check. Comes the time for the celebration of the tomb stone, the predicament is often repeated. The entire bill can take the household a long time to settle leaving them in short supply of living and other expenses. This all can be averted by taking out funeral cover. Should you be the breadwinner you might like to consider including your immediate family and your parents in the policy at the same time. These alternatives are cheap and allows for your immediate family to be laid to rest in dignity even after your death. For more information on life cover quotes, go to http://www.instantlife.co.za

Funeral cover policies are freely offered by most insurance providers and some merchants offer packages from as low as R38.00 each month for wife and husband, with a payout value of R10 000. You can modify these policies to match your own requirements and some policies where your immediate family is included can be laid to rest with full costs even after your passing away by applying for the policy to be paid up after your death. Funeral policies are payable on cash on receipt of the appropriate death certificate and the payout is tax-free. Because of this you have cash in hand when completing the plans for the funeral. There are also a number of add-ons to many funeral policies, like a further sum payable for a tombstone or groceries to a certain value to the left behind loved ones for one year. It would be best discussing your needs with a licensed financial consultant or as a first pass access the net for details.

The money necessary for funerals is forever rising, especially in the rural areas where there is much competitiveness for the services of undertakers, especially over weekends. Undertakers in Kwa Zulu Natal report having to conduct up to 10 funerals on some weekends despite the fact that their services don’t come inexpensive. It’s estimated that the cheapest burial these days cost as much as R10 000 with no food, accommodation, travelling or tombstone charges. A sizable funeral to include an extended family with all the extras and a future tombstone might cost R100 000 upwards dependant upon the coffin chosen and foodstuff served at the ceremony. With such costs possibly facing your family it would seem to be less than dependable not to enter a funeral cover policy. The sooner you take action and initiate your enquiry, the sooner you may be alleviating your family of massive debt on your passing away.

Must You Get Health Coverage For Critical Illness?

In spite of the fact that the arena of medical science is really advanced nowadays it’s even now possible to acquire an illness or develop an ailment a disorder that’s potentially life-threatening and for which there isn’t any simple treatment. Heart failure and cancers are but two illnesses that are considered by the healthcare industry to be ‘critical illnesses’ much like blood clots and problems with major organs such as deteriorating kidneys or liver, for instance, that could lead to the need for a body organ transplant.

Although nobody really loves to harbor the thought that one of the abovementioned ailments might in the course of the future affect them personally, it’s important to think about things like health care insurance. Of course, you may already belong to a medical aid scheme, and there certainly are some good medical aid funds out there. Nevertheless, the nature of critical illnesses is such that extra measures in addition to belonging to a medical aid fund may be necessary. For more information on disability from work, go to http://www.instantlife.co.za

Critical ailments are extremely serious with stress on the word ‘critical’. In actual fact, not only is medical treatment really essential, it tends to be intensive and protracted too. Intensive and protracted medical care is, of course, really expensive which is where medical cover comes in. Insurance such as this will help cover a deficiency that may exist in your medical aid scheme coverage. Hence if you suspect that the medical aid fund to which you belong won’t cover your medical expenses sufficiently with regards to critical illnesses then you may want to consider getting some extra insurance coverage.

Also sometimes known as ‘dread disease coverage’, critical illness cover is a form of medical insurance that is intended specifically to meet the needs of individuals with a very severe illness such as cancer malignancy or heart disease. Therefore, it is a targeted form of medical insurance that can help not only in the event of a medical aid fund shortfall but where there are expensive lifestyle changes that have to be made or family costs that have to be dealt with, for instance.

Health plans possess a benefit over and above medical aid funds in that a) you typically get a cash amount when you claim against your policy and b) you will be allowed to to utilize that cash not only to deal with medical expenses but domestic and other expenditures too. Sure, health-related expenses are a significant component of dealing with a critical illness but there’s usually loss of income to contend with as well as lifestyle changes that often accompany the circumstances.

Of course, the reaction of a lot of of us is to bury our heads in the sand when it comes to the thought of critical illness affecting us or our family members. This is a natural reaction for people because, after all, what we do not know can’t hurt us, right? Having said that, you may want to give some thought to the peace of mind having health insurance like critical disease conceal could give you, especially if there is a background of serious illness such as, say, cardiovascular disease in your family.

Things To Watch Out For With Funeral Insurance Plans

How many of us are regimented in saving income each and every month and never touching it for any other reason than your eventual death? If you are one of those individuals then I propose you open a savings plan and start saving your cash. The truth is that regimented savers will have a better return on their money than if they got funeral insurance.

Funeral insurance however is the best choice for the rest of us who are not so competent with putting money away yet who still need to do the responsible thing by saving funds so that our family members don’t need to obtain large loans from banks in order to pay for our funeral. For more information on health plans, go to http://www.instantlife.co.za

The way funeral insurance performs is quite simple. You buy an insurance policy for a certain amount of money and you pay affordable monthly installments. In the event of your passing your heirs will be paid out the one time payment of money that will then be utilized to fund your funeral expenses. Funeral expenditures such as the paying for a coffin, flowers, a burial plot and the hiring of a hearse cost a considerable amount of cash when one adds everything up. Few people can afford to cover thousands for the burial of a loved one suddenly, and that’s why having a funeral plan implies that your family do not have to be economically burdened.

There are however several things that you should check prior to buying a funeral insurance policy to make sure that you are not paying more cash for a policy than you should.

Should have a cancellation option

The funeral insurance policy which you select must have a cancellation option. Solid funeral insurance will allow you to cash in your policy. If there is no cancellation option on the insurance policy then you could very well find yourself paying premiums until you die, well exceeding the costs of your burial.

Policy Price Should Include Inflation

The premium you pay should cover the cost of inflation. Even though funeral costs may increase in the past this should not affect your premiums. Inflation needs to be calculated into the price. Do not buy an insurance policy which does not have fixed premiums for the duration of the insurance plan. You will only end up having to pay more than you should in the long run.

Verify That You Don’t End Up Paying More In Premiums Than The Value of The Policy

You need to estimate just how much you will actually be investing in compared to the value of your insurance policy. If by way of example you take out funeral insurance with the payout benefit of R20 000 when you are 35 yrs at R100 per month, if you pass away at the age of 75 years you would’ve paid monthly premiums to the value of R 48 000.

It’s also for this reason that it is not advisable for young individuals to acquire a funeral policy but another type of insurance as they will simply end up paying far more than the real worth of the policy.

Picking The Right Life Insurance Coverage

All of us are all conscious of how unpredictable the actual world which we live in can be. Accidents occur and ruin lives on a daily basis. For this reason it’s so vital that you ensure that you have the right kind of life along with other personal insurance policies in position as early on in your lifetime as possible.

There are a lot of insurance companies out there and they all have different guidelines to offer you. Deciding on the best one can make life truly complex. In an attempt to make your life a little easier, here is a look at what Clientele Life can offer an individual. For more information on life insurance go to http://www.clientelelifeinsurance.co.za

Clientele has two options to offer you in terms of life insurance. There is the premium life cover plan and the lasting dignity plan.

The actual premium life insurance plan covers you up to R5 million for premiums that begin at R200 per month. All that you need to do to get this cover is actually apply. You do not have to endure possibly costly medical examinations or anything like that. The only thing which Clientele will need is an HIV test which they will have one of their nurses administer at your convenience. You can also add critical illness cover to your life insurance policy as well as disability cover. If you’re good about paying your own premiums and do not make certain claims, which are outlined within your policy documents, then you’ll get cash back once you have paid 60 premiums.

The lasting dignity cash back plan’s also a life insurance coverage that will provide you with cover of up to R200 000. The rates start at R100 each month. There are no medical exams involved, not even an HIV test. However, you are not covered for any pre-existing problems. You would need to make special provision for those with Clientele in a separate policy. Each and every lasting dignity plan comes with free accidental cover though which truly enhances the value of the policy. You’re also entitled to a 75% payment if you’re diagnosed with a terminal sickness that meets Clientele’s conditions. This can really help to pay for all of the hospital bills that an illness of this nature can accumulate.

You will need to weight up the benefits and expenses related to both forms of cover prior to making a choice. It is likely that, if you are an more mature individual who does not have much financial debt or even many financial obligations, the lasting dignity plan would be the one which suits you best. If you have a lot of financial debt or even have people who depend on you for their daily bread then your premium life insurance will be the better option. If you are not sure what to do, then it’s best to get advice from a financial consultant who is qualified to do an analysis of the financial situation and make a recommendation with regards to just how much life insurance you’ll need and what other personal insurance policies you should consider before committing to any kind of policy.