When someone you love passes away, you need both financial and emotional support. There are two main options for covering yourself when this happens: funeral cover and burial societies. Although they both have their advantages, which option is better?
Funeral cover – a trustworthy and secure option
Funeral cover differs from a burial society membership because it is more trustworthy. If someone passes away, you get a guaranteed payout of a fixed amount within 24-48 hours, provided you have all the necessary documents.
Another advantage of formal funeral cover is that you can get cash back: if you don’t claim over five years (and all your premiums are up-to-date), you’ll be paid out up to 20% of your original investment in cash.
A Hollard Funeral Plan is flexible in that you can also use it to provide for family members for up to 24 months after the funeral. By adding a Monthly Provider to your funeral cover policy, your family will be paid a monthly amount of money that can go towards paying for groceries or education.
Burial societies – community support when you need it most
Burial societies consist of informal, unregulated groups of people who contribute a regular sum of money into a communal “pot”. If a member or someone in their family dies, they receive a payout from the burial society to cover some of the funeral costs. They also provide other forms of social support, such as cooking the funeral meal and arranging other funeral details.
Burial societies came about because communities realised that there is nothing more vital than emotional and financial support when a member of that community dies. These societies continue to flourish - it’s estimated that 6 million* people are part of one in South Africa.
Choose the funeral cover that suits your needs
The Hollard Funeral Plan gives you proper financial support in the form of a comprehensive funeral plan from a leading insurer you can trust.
Get a Hollard Funeral Plan quote now, or read more about our funeral cover.
