As with most industries, you will find dishonest players that will try and take advantage of you or tell you things that are not true to get money out of you. Like fake news is a concern, so too should fake funeral policies.
What Questions to Ask to Make Sure You Are Buying a Real Funeral Policy?
The first question to ask is do you know the company that is offering you the funeral cover? Has anyone in your community dealt with the representative? You should never pay cash to anyone unless you have proof that the money is covering a real policy. You can always confirm this with a policy number and phoning the insurance company to make sure you have a policy. Rather be safe and have your funeral cover premiums debited from your bank account or airtime.
If you have access to the internet, you can Google the company you are choosing to deal with, this will allow for you to see if there is any negative news or reviews about the company. You can also search the company to see if it is registered with the Financial Services Board (FSB) as insurance companies act as registered financial services provider (FSP) and are bound by the FSB’s regulations.
You must also make sure that you get your policy documents which will include your policy schedule and policy book. The policy schedule will have your policy number on as well as all the information around the funeral policy that you can claim for, including any exclusions or waiting periods. Make sure you understand what you have bought.
If you are dealing with a broker, or direct with a company it is recommended that you get funeral quotes to make sure that you are buying both an affordable policy and one that suits you and your family’s needs. Remember nothing in life is free and if it seems to good to be true, it probably is.