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You might be surprised to know that a funeral policy can be taken out up to the age of 75, which means pensioners can get funeral cover too.
Some insurers offer term life insurance at 75, 80 or, in rare cases, 85, however the older you get, the greater your risk of illness, and this type of cover could become expensive. Another option for life cover for over 70s is whole of life cover which is offered by most providers.
Generally, Funeral Policies pay out a lump sum within 48 hours of the approved insurance claim. This lump sum is paid to the person nominated on the funeral policy.
If you're already over 65, it is possible to take out a life insurance policy in South Africa? Each individual life insurer can decide the maximum age threshold that they are willing to cover. Unfortunately for those who are over retirement age, many life insurers draw this line at age 65.
Maximum cover (you and up to 21 lives) Life Assured CategoriesMaximum CoverPolicyholderR100 000Spouse (18 - 64 years)R100 000Children (14 years and older)R60 000 each*Children (6 - 13 years)R50 000 each*3 more rows
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People also ask

What is the maximum funeral cover in South Africa? Funeral cover is capped at R100 000. An insurance act introduced in 2018 placed a cap on the maximum benefit for funeral policies at R100 000.
Safrican is a wholly owned subsidiary of Sanlam Life Insurance Limited. The reasons for the merger are as follows: The businesses are complementary in nature: ARL focuses on individual retail policies, and Safrican has over 80 years experience in running Group's business.
Safrican is a wholly owned subsidiary of Sanlam Life Insurance Limited. The reasons for the merger are as follows: The businesses are complementary in nature: ARL focuses on individual retail policies, and Safrican has over 80 years experience in running Group's business.
How do I choose the best funeral cover? A rule of thumb is to shop around. \u201cTry to compare three or four policies in terms of your family's needs, the funeral provider's reputation as well as the ability to pay claims, before choosing the one best suited to you,\u201d suggests Reddy.
Just like for those over 65, your parents can get Funeral Cover up to the age of 75 when they are added to your policy. However, the older a person is, the more costly it is to have a Funeral Cover for them.

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