SA contends with rising cost of dying

FNB Stock Pix. Photography in October 2015 for FNB/Helium by Jeremy Glyn. Caption Byline : Photograph Courtesy of FNB.

FNB Stock Pix.
: Photograph Courtesy of FNB.

JOHANNESBURG, (CAJ News) – WITH food prices continuing to increase, rising fuel prices and high electricity tariffs, an expert has projected the cost of burials to rise significantly albeit in the short term.

Lee Bromfield, Chief Executive Officer of FNB Life, says on average, the cost of a burial is estimated to range between R30 000 and R40 000 but cautions that along with the rising cost of living, burial expenses could increase substantially.

“The average cost of a burial takes into account standard expenses such as buying a coffin, catering, hiring a tent, buying a headstone, fuel or travel expenses for the family and the amount of electricity consumed when preparing for a funeral,” says Bromfield.

“Other expenses that are not always considered include the printing of a programme or an obituary, and even the airtime used to stay in touch with key suppliers such as undertakers or caters.,” he points out.

He said if unplanned for, all these expenses could easily overwhelm families and negatively impact the hopes of providing a decent burial.

Bromfield says there are a number of options that people should consider,to cope with high funeral expenses.

These include taking up funeral cover, paying monthly premiums and selecting a trustworthy provider.

Bromfield says in most cases, people tend to ignore the responsibility of taking up a funeral plan until they are confronted with a situation that requires it.

“South Africans are fortunate because funeral plans are easily accessible but consumers still need to exercise caution because of the vast amount of unscrupulous providers in the market. This is why your decision to take up funeral cover is as important as the provider you chose to be insured with,” says Bromfield.
– CAJ News

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Posted by on Jul 6 2016. Filed under Africa & World, Finance, Finance & Banking, National, News, Regional. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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