It’s eerie enough to map out a plan for your own death, but to add your family, as well, can be a scary thought. However, it makes the most economic sense and here’s why you should add your family to your Funeral Insurance Plan.
The Funeral Insurance Plan is one of the most affordable insurance products within our portfolio of products. It can cost as little as SCR80 per month depending on your age and your insurance plan. Adding your family to your plan can likely be a nominal amount, in addition to what you are already paying.
Who can be added to your plan?
If you are the main member of the plan, you can add your spouse (age above 18 years and less than 65 years), your dependent child (age less than 25 years if studying full time at a tertiary institution, otherwise age less than 21 years) and your parents (age up to 70 years).
What are the benefits of adding your family members to your plan?
You all get the same benefits under one plan. If the plan is for a SCR30,000 assured sum upon death for yourself, this amount will also be made available upon the passing away of each family under your plan.
Another benefit is the lifetime coverage for some of your family members. Although your dependent child can only be included up to the ages of 21 and 25, depending on their studies, your spouse and your parents can be included until death.
If your family member passes away, you won’t have to be financially burdened with considerable funeral costs, especially if you are an only child or a single parent.