King Price Funeral Cover Review
King Price Funeral Cover at a Glance
- Flexible coverage ranging from R5000 to R50,000.
- Online quotes and easy sign-up processes for convenience.
- Affordable and custom-tailored quotes.
What we like:
King Price's funeral cover process to make a claim has been made simple. It also provides a 6 month continued funeral cover after the policyholder has passed away.
Best for:
King Price's funeral cover is a stellar option for people that want convenient coverage at a good price.
- Policyholders can modify their plans at any time and even change nominated beneficiaries.
- The entire application process is completed over the telephone.
- No medical test is required to finalize the cover.
- The maximum payout is R50,000 - roughly half the maximum funeral cover payable as per the Insurance Act.
King Price is one of the reputable providers of affordable funeral cover in South Africa. By taking steps to protect yourself and your family with insurance, you can ensure that they have the necessary funds to cover your final expenses without adding additional stress to an already difficult time. This review aims to provide an overview of King Price Funeral Cover, highlighting its unique features and the advantages and disadvantages of the product. With this information, you can make an informed decision on whether King Price Life Cover meets your financial requirements.
What Makes King Price Life Cover Different?
King Price Life Cover, which is also referred to as Stangen Life Cover, provides coverage for funeral expenses up to R50,000 and can be customized to include additional family members, including extended family. In addition, King Price Funeral Cover remains active for 6 months after the death of the primary policyholder without paying premiums.
The primary policyholder, also known as the policy owner, is the person who purchases the insurance policy and is responsible for paying the premiums to keep the policy in force. They are typically the same person as the insured, but this is not always the case. In some cases, the primary policyholder may be a different person, such as a family member who is purchasing the policy for the insured. The primary policyholder can modify the funeral plan, including adding or removing beneficiaries or changing the modality of coverage.
Stangen Life Cover is offered by King Price Life Insurance Limited, and all of their life insurance options, including Life Cover, fall under the King Price Life category.
King Price Funeral Cover - Coverage Options and Benefits
King Price offers a range of funeral cover options that allow you to insure your entire family, including your spouse or partner, children, and extended relatives, for up to R50,000. Imagine you’re on a phone call, and in less than 10 minutes, you’ve completed the entire life insurance application – no paperwork. Plus, you can add your loved ones, such as your spouse, parents, parents-in-law, and children, to the list of covered individuals.
One of the major benefits of the Stangen Funeral Cover (King Price Funeral Cover) is that it does not require any medical exams for eligibility. This means that you can easily obtain coverage without having to worry about any medical tests or assessments. Additionally, the plan offers no waiting period for accidental death after the first premium has been received, allowing you to be covered from day one.
The Stangen Funeral Plan also provides free continued coverage for six months after the main member dies. This ensures that their designated beneficiaries can claim a lump sum payout up to six months after the policy owner’s demise without having to pay any premium during this period.
Pricing and Discounts of King Price Funeral Cover
King Price Funeral Cover provides personalized coverage options based on the policyholder’s income and coverage needs. Each policy is priced uniquely to match the policyholder’s preferences. While there are no special discounts available, all policies come with the premium waiver benefit, which ensures that policies remain active for up to six months after the policyholder’s passing.
Where King Price Funeral Cover Can Improve
The maximum coverage offered by King Price Funeral Cover is limited to R50,000, which is only half of the maximum amount of funeral cover payable in South Africa. To ensure that all insured individuals per plan receive sufficient payouts to cover funeral expenses, the company may consider increasing the level of coverage provided.
How to Request a Quote for King Price Funeral Cover
If you’re interested in obtaining a quote for a funeral plan, there are several options available to you.
- One way is to request a quote on King Price website.
- Alternatively, you can make an inquiry by calling 010 020 7600.
Additionally, you can request a call back from a customer service provider by clicking the “Call me” button on the upper side of their website.
Frequently Asked Questions (FAQ)
What Is the Implication of Missed Payment for King Price Funeral Cover?
A common reason why insurance companies reject claims is due to missed or delayed payments. Funeral Cover policies, like other types of insurance policies, require regular monthly payments from the primary policyholder. If you have only made payments for the first eighteen months, for example, and submit a claim five years later, the policy may have lapsed and you may not be able to receive the benefits. To fully benefit from your policy, it’s important to make timely payments.
As mentioned earlier, King Life provides a waiver benefit in the event of the primary policyholder’s death. However, it’s important to note that the company has not explicitly stated whether it offers a waiver benefit for other situations, such as the primary policyholder’s disability or temporary inability to work. To avoid any unexpected surprises, it’s advisable to inquire about this issue when you are requesting a quote or signing up for funeral coverage with King Life. This will ensure that you have a clear understanding of the company’s policies and what benefits are available to you.
What Is a Waiting Period, and How Long Is It for King Price Funeral Cover?
The waiting period is the period at the beginning of a policy where any insured events resulting from natural causes, such as a heart attack, are not covered. However, in the event of an accidental death, coverage is provided from the first day. For extended family members, there is a 12-month waiting period before coverage begins.
What Is the Maximum Amount of Cover I Can Take Out for King Price Funeral Cover?
The maximum amount of coverage that can be taken out depends on the insured party’s relationship to the policy. The main member is eligible for up to R50,000 in coverage, while spousal coverage ranges from R20,000 to R50,000. Parents and parents-in-law are eligible for coverage ranging from R20,000 to R50,000. Children can be covered for amounts between R5000 and R20,000, depending on their age.
Does King Price Funeral Cover Increase Automatically Every Year?
No. You can inform the company if you wish to increase your cover at any point. There are multiple circumstances where such a decision may be the best choice.
If there has been a significant change in your life circumstances, such as getting married, having children, or experiencing a change in income, it may be a good time to reassess your funeral cover needs and consider increasing your coverage.
Also, funeral costs can increase over time due to inflation, and the coverage you purchased some years ago may no longer be adequate to cover the cost of a funeral today. It may be worth considering increasing your coverage to ensure that your funeral expenses are fully covered.
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