Tag - funeral cover

The high cost of death

Why death is killing us financially “Around 85% of people’s debt problems start with a death in the family,” says debt counsellor Deborah Solomon. Despite a relatively high penetration of funeral policies, Solomon says the cost of death in families is plunging many middle- to lower-income earners into debt spirals from which they cannot escape...

Ensure you’re not over-insured

“Can I have more than one life insurance policy?” asks Susan Maya replies: Although technically you could have more than one policy, you need to be careful that you are not “over-insured” as you may not receive the full pay-out that you have been contributing towards. Suzanne Stevens of insurance company BrightRock explains that risk cover...

Are you paying too much for funeral cover?

It is important to find a balance between insuring for the unexpected and paying off your debts. Make sure you are not overinsured at the expense of your savings The average government employee spends around eight percent of their salary on funeral, life and savings policies says Clark Gardner of Summit, a Financial Wellbeing company. Gardner...