Let’s get smart about life insurance

Because life insurance policies and funeral policies cover different things, it’s best to provide for both in your monthly budget.Funeral policies cover funeral costs while life cover is focused on the long term

Funeral cover provides for some of the costs involved with a funeral, including burial or cremation, flowers, transport, groceries, and airtime. Life insurance aims to provide for your family in the long term, ensuring they are well taken care of financially should something happen to you. Life insurance does not only cover you when you die, it can also cover you if you are critically ill or become disabled. Your life policy can also include funeral cover. Because of the nature of what they cover, funeral policies are paid out soon after the claim is made, usually between 24 to 48 hours of the insurer getting all the documentation.

With funerals, you would like to be able to give your family members a dignified send-off. The last thing you need to worry about when planning it is how you'll pay for it. Similarly, life insurance covers your family during a difficult time, whether it's because of your death or you're seriously ill or become disabled. Life insurance aims to ensure your loved ones have the same standard of living after something happens to you.

Financial advisers must meet strict regulatory requirements and be licensed with the Financial Sector Conduct Authority and product providers. You have the right to ask your adviser for their credentials and ask whether they are independent or work for a specific product provider. BrightRock Life Ltd is a licensed financial services provider and insurer. Company registration no: 1996/014618/06, FSP 11643. Terms and conditions apply.

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