COVID-19! Is funeral insurance or a funeral bond better to obtain funeral cover?

When applying for funeral insurance cover it is likely that you will need to disclose any recent pre-existing illnesses and symptoms similar to those experienced by COVID-19 sufferers.  Failure to do so, and you be unlucky enough to die from COVID-19, may cause your family problems when completing the claim.  Your policy may even be cancelled.

In contrast, using a funeral bond has no complications.  A funeral bond is a managed fund whereby a member’s funeral benefit is the total of their contributions and accumulated bonuses. Therefore, as a funeral bond is simply paying out what has been deposited by the member and any returns earned by the fund, there are no exclusions for any medical conditions, including the COVID-19 virus.

Sureplan Gold is a conservatively managed funeral bond issued by Sureplan Friendly Society Ltd that invests in low risk securities. When revenue earned by the fund’s investments permits, bonuses (returns) may be added to your policy annually and the accumulation of your contributions and bonuses are paid to your nominee when you die.  The total funeral benefit is guaranteed to be paid within 1 working day of receiving independent verification.

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