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Is one funeral cover policy as good as the next?

That’s a tough question to answer, but in this article, we’ve decided to do the hard yards and get in touch with the top funeral cover companies in South Africa.

Is it possible to find the best funeral plan in South Africa? And what criteria would you use to determine that?

Those are the two questions we asked ourselves, and decided that the average South African consumer probably wants three simple questions answered before taking up a funeral plan:

  • Who offers the most cover without requiring a medical?
  • Who has the shortest waiting period before you can claim?
  • Who offers the cheapest premium?

As a starting point, it’s important to note that we’ve done an “apples with apples” comparison. We created a hypothetical family scenario (see below) and when we called each company for a quote, we used the same detail.

This is what our fictitious family looks like on paper:

  • The main member is a 41-year old male.
  • His wife is 39-years old.
  • They have two daughters who are 17 and 14.
  • The main member’s father is 73-years old.
  • His mother is 69-years old.
  • His father-in-law is 72-years old.
  • His mother-in-law is 69 years old.

Which companies did we compare?

Hollard, ABSA, FNB, Standard Bank, Old Mutual, 1Life and Stangen.

Now that our fictitious family was laid out on paper, the first two things we wanted to find out from each of these companies was:

  • What is the maximum cover amount they could offer?
  • What are their waiting periods like?

The table below gives you a clear idea of the maximum amounts of cover offered by each company (per family member) as well as the general waiting period. The main member needs to sit out before they can claim.

Funeral Cover comparison table below showing maximum benefits per provider

funeral comparison table

Everybody except Hollard and Standard bank will offer the main member of the policy R100K cover without a medical examination.

  • If you are looking to add your spouse then ABSA, FNB and Old Mutual will match your R100K as the max benefit on offer. Stangen and Standard bank will offer 50% of the main member’s max cap – R50K
  • When it comes to adding your kids, the stand-out is Old Mutual who will continue to offer you R100K in cover. We don’t really understand why you would need R100K cover on the life of a child, but if you wanted it, it seems available to you.
  • The rest of the insurers offer reasonable amounts of cover for children ranging from R20K – R50K

Now let’s talk price!

This is how the companies stacked up in terms of price. Remember that these premiums are quoted as monthly contributions.

Comparative Quotes Per Provider
HollardR1 652
ABSAR1 440
FNBR1 154
Standard BankR1 433
Old MutualR1 759
1LifeR1 469
StangenR1 129

What about general waiting periods?

Stangen and FNB are the clear winners, with Stangen beating everyone with a premium of R1 129 per month. Hollard wouldn’t allow us to add our parents and parents-in-law at R30 000 each, so we had to split out the policies and as a result, they couldn’t remain competitive.

Insurance companies offering funeral cover don’t require medical exams. That’s why the amounts of cover you can take out are capped, and why they apply waiting periods before you can claim. Price isn’t the only factor when considering a funeral plan. How long you need to wait before you can claim should be a major consideration.

For main members and their spouses, here are the applicable waiting periods.

  • Hollard has a 6-month waiting period
  • ABSA has a 6-month waiting period
  • FNB has a 6-month waiting period
  • Standard Bank has a 6-month waiting period
  • Old Mutual has a 6-month waiting period
  • 1Life has a 12-month waiting period
  • Stangen has a 4-month waiting period

*We haven’t included waiting periods for parents and parents-in-law which are generally 12-months.

If you’re looking for the shortest waiting period in the market (or at least from the companies we managed to get quotes from) consider the Stangen Funeral Plan. They also have a 24hour claim turnaround time and really match most of the other companies in terms of max covers, besides the spouse benefit of R50 000. Turns out they also came in the cheapest!

Watch our quick 3-minute video below, which runs you through the full benefits of Stangen’s Funeral Cover.

If you’d like to receive an obligation-free Funeral Cover quote from Stangen, submit your details below.

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