When you pass away, your loved ones will have to cover high funeral costs plus look after themselves – all when the person who has always provided for them is suddenly gone.
You can put your mind at ease and avoid this happening by extending your funeral insurance with a monthly provider benefit.
Also known as a groceries benefit, a monthly provider benefit gives your family a monthly cash payment for food, household goods and other pressing expenses. This benefit is provided for a specified period following your death, which allows your family to cushion the financial blow of losing your income. In addition, the extra money can also help ease the stress in a very difficult time.
A groceries benefit added to your funeral insurance is a simple and efficient way to continue to look after the people you love. And, it can also be extended to cover your partner.
Prevent debt with a groceries benefit
In the event of your death, your dependents may very well have to resort to credit cards or small loans if they don’t have cash for essential items. This could lead to stressful long-term debt.
A groceries benefit added to your funeral insurance policy provides up to twelve months of cash payments to help protect them from incurring debt at a time when they need the support most.
Choosing the right level of funeral insurance cover
Following your death, the amount provided to your family depends on your funeral insurance cover. You want to provide them with the most benefits and the highest level of cover. However, this needs to be balanced with the cost of the premium.
At the very least, funeral insurance should cover funeral expenses and related costs. Beyond that, a groceries benefit is a popular option because it provides lasting benefits, consists of a regular cash sum and it’s fully flexible. In this way, it can be used to pay for whatever expenses arise.
Hollard Funeral provides affordable funeral insurance with a wide range of optional add-ons. Either read more about our funeral insurance to help protect you and your loved ones from unexpected funeral costs, or give us your details and we’ll call you back.
