Finding space in your monthly budget for insurance
Times are tough – but don’t cancel your life cover and funeral policy.
Looking after your family in times of need is of vital importance. You can never tell what is just around the corner, and so you need to protect your family financially. This might sound impossible, especially during economic downtimes, but maintaining your life and funeral cover means that your family won’t suffer further monetary hardship if the worst happens.
Despite financial pressures brought about by Covid-19 and the resulting lockdown, financial advisors agree that cancelling your life and funeral cover is unwise. While it might be tempting to shave a few hundred rands off your household budget every month by ditching your life cover and funeral policy premiums, experts say it’s critical to maintain your protection to ensure your family’s wellbeing and security.
If your loved ones depend on your financial support for their livelihood, then life insurance is a non-negotiable because it replaces your income when you die. Leaving your dependents without financial help in the event of your death means they will not only be grieving their loss, they will be troubled by money concerns too.
If you are struggling to make ends meet, it might be tempting to cancel your life cover. But before you do, weigh up the expense of your monthly premium against the dire financial impact the loss of your income could have on your family.
With Vodacom Life Cover you can rest assured that your family’s needs will be taken care of when you’re no longer around. The policies offered are active for the duration of your life, as long as your monthly premiums are paid. You can enjoy affordable premiums that start from as low as R125 per month for up to R1million cover, based on your personal risk profile and circumstances. Plus, when you buy directly from Vodacom you don’t have to pay any broker fees, which means maximum savings for you. If you don’t claim, you will receive 20% of your payments back every five years.
Family funeral cover is used to pay for your funeral or the funeral of a loved one who is part of your policy. The money your family receives on your death means they will have funds to give you a dignified burial without having to pay for this unexpected – and considerable – expense.
With Vodacom Funeral Cover, you can get cover for up to eight people, including unlimited children on one policy. This is a straightforward funeral policy, that pays out up to R50 000 when you or any of your family members dies.
It’s easy to get as there are no blood tests, paperwork, medical exams, or brokers required – just direct cover. And if you're a Vodacom customer, you may qualify for special loyalty benefits, such as a new smartphone or cash back. Vodacom pays out valid claims within 48 hours of verifying all required documentation.