YOUR FUTURE INCOME
COVER VS LIFE COVER
Some life insurance policies allow for up to 10% to
be paid within 48 hours to be used for funeral expenses. Frank Magwegwe says this can be a far more cost-effective option than funeral cover, which, as it has no underwriting, is far more expensive. “The
challenge, though, is that this only caters for immediate family, including parents, and won’t work for
most black people, who cover extended family members using funeral cover,” advises Magwegwe.