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Standard Bank Funeral Cover

Complete Guide for South African Families

Last updated: January 2025

🏆 Quick Facts

Voted Product of the Year 2025 in Funeral Planning
Cover up to R100,000 per person
Claims paid within 48 hours
Cover unlimited family members on one policy
Underwritten by Liberty Group Limited

📑 What You Will Learn

1. What Is Standard Bank Funeral Cover? 2. Who Can Get This Cover? 3. How Much Cover Can You Get? 4. Extra Benefits You Can Add 5. Understanding Waiting Periods

6. How to Apply 7. How to Make a Claim 8. Avoid Funeral Cover Scams 9. Your Rights and Where to Complain 10. Final Tips

💰 Why Funeral Cover Matters

Funerals in South Africa are expensive. Most families pay between R15,000 and R50,000 for a funeral.

Some funerals cost as much as R150,000.

Without funeral cover, your family may have to borrow money or use savings meant for other things.

1. What Is Standard Bank Funeral Cover?

Standard Bank offers the Flexible Funeral Plan. It is a type of insurance that pays money when someone dies.

This money helps pay for funeral costs. Your family does not have to worry about money during a sad time.

Key Information

Provider: Standard Bank Insurance Brokers (FSP 224)
Underwriter: Liberty Group Limited (FSP 2409)
Maximum Cover: R100,000 per person
Claim Payout: Within 48 hours

✅ 2. Who Can Get This Cover?

You do not need a Standard Bank account to get funeral cover.

Here is who can be covered:

Who Can Join	Age Requirement
Main Member	18 to 65 years old
Spouse	18 to 65 years old
Children	From birth to 21 (or 25 if full-time student)
Parents and In-laws	18 to 84 years old
Extended Family	From birth to 84 years old
Household Staff	18 to 84 years old

💡 Good to Know: You can cover unlimited family members on one single policy. Extended family includes brothers, sisters, aunts, uncles, cousins, nieces, nephews, and grandparents.

3. How Much Cover Can You Get?

You can choose your cover amount. The maximum is R100,000 per person.

The more cover you want, the more you will pay each month.

Typical Funeral Costs in South Africa (2025)

Funeral Item	Estimated Cost
Coffin (basic to standard)	R1,000 – R15,000
Casket (premium)	R8,000 – R50,000
Burial plot (municipal)	R2,200 – R11,000
Burial plot (private)	R14,000 – R50,000+
Undertaker fees	R4,000 – R10,000
Tombstone	R1,500 – R7,000+
Catering (depends on guests)	R2,000 – R20,000
Cremation	R4,000 – R15,000
TOTAL (typical funeral)	R15,000 – R50,000+

💡 Tip: Think about how many people will attend the funeral. More guests means more catering costs. Choose enough cover to pay for everything.

🎁 4. Extra Benefits You Can Add

The Flexible Funeral Plan lets you add extra benefits. These cost more each month.

🍽️ Catering Benefit

Up to R20,000 for the memorial service or catering. For main member and spouse only.

🪦 Memorial Benefit

Up to R20,000 for the memorial service. For main member and spouse only.

🛒 Grocery Benefit

Up to R2,000 per month for 6 or 12 months. Maximum R24,000 total. For main member and spouse.

✈️ Repatriation Benefit

Choose R10,000 or R25,000 to move the body to the burial place. Available for all members.

📱 Airtime Benefit

Choose R200, R500, or R1,000 airtime when someone passes. Available for all members.

📈 Automatic Benefit Increase

Your cover can grow each year to keep up with rising costs. Premium also increases.

⚠️ Remember: Total benefits for each person cannot be more than R100,000. This includes the main funeral benefit plus all extras.

⏳ 5. Understanding Waiting Periods

A waiting period is the time you must wait before you can claim. This is very important to understand.

Type of Death / Benefit	Waiting Period
Death from accident	1 month (first premium paid)
Main member, spouse, children (natural death)	6 months
Extended family (natural death)	6 months
Parents and in-laws (natural death)	12 months
Grocery, catering, memorial benefits	6 months
Death from suicide	24 months (2 years)
Free embedded grocery benefit	18 months

✅ What Happens During Waiting Period:

No benefits are paid if someone dies from natural causes during the waiting period
If someone dies during the waiting period, premiums paid for that person are refunded
Accidental death is covered after paying the first premium

📝 6. How to Apply

There are several ways to apply for Standard Bank funeral cover:

📱 Option 1: Banking App

Open the Standard Bank Banking App
Tap “Explore” icon on the top left
Swipe down to “Insurance” section
Tap “Life & Personal” icon
Select “Flexible Funeral Plan”
Read the highlights and tap “Continue”
Choose your cover amount and benefits
Get your quote and tap “Buy Now”

🌐 Option 2: Online

Visit the Standard Bank Insurance website at insure.standardbank.co.za and apply online.

🏦 Option 3: Branch

Visit your nearest Standard Bank branch with your SA ID (or passport if not a South African citizen).

📞 Option 4: Phone or WhatsApp

Call: 0860 123 999
WhatsApp: +27 645 700 291
SMS: Send “BENEFIT” to 31492 for a quote

✅ What You Need to Apply:

South African ID or passport
ID numbers for all people you want to cover
Bank account details for debit order
No medical examination is needed

📋 7. How to Make a Claim

When someone covered on your policy passes away, follow these steps:

Step-by-Step Claims Process

Contact Standard Bank: Call 0860 123 999, WhatsApp +27 645 700 291, or visit your branch
Gather documents: Get all the papers they ask for
Submit your claim: Give all documents to Standard Bank
Wait for verification: Liberty Group checks all information
Receive payment: Approved claims are paid within 48 hours

Documents You Will Need

📄	Certified copy of death certificate (BI-1663)
🪪	Certified copy of the deceased person’s ID
👤	Certified copy of the claimant/beneficiary’s ID
💳	Bank statement of the beneficiary (if not a Standard Bank customer)
👨‍👩‍👧	Proof of relationship to the deceased
🚔	Police report (if death was caused by an accident)

⏰ Important Deadlines:

Submit your claim within 12 months of the death
All premiums must be paid up to date
The waiting period must have passed

🚨 8. AVOID Funeral Cover Scams

Funeral cover scams are a big problem in South Africa. Criminals target people who want to protect their families.

🚫 Warning Signs of a Scam

Too cheap to be true: R30/month for R50,000 cover is not realistic
Strangers approach you: At malls, taxi ranks, or in the street
Cash payments: Asking you to pay premiums in cash
No policy documents: You never receive proper paperwork
No FSP number: The company cannot show their license number
Social media only: Company only operates on Facebook or WhatsApp
Promising free food vouchers: Trick to get your ID and banking details
Rush you to sign: Pressuring you to decide immediately

✅ How to Protect Yourself

Check the FSP number: Standard Bank Insurance Brokers is FSP 224
Verify with FSCA: Call 0800 110 443 or visit fsca.co.za
Ask who underwrites the policy: Liberty Group Limited (FSP 2409) underwrites Standard Bank
Never give ID to strangers: You don’t need to give ID for a quote
Check your bank statements: Look for debit orders you did not approve
Get everything in writing: Keep all documents safe
Use official channels: Call 0860 123 999 or visit a branch

⚠️ NEVER sign blank documents. NEVER give your PIN. NEVER pay cash premiums. A real funeral policy company will ALWAYS give you documents and use debit orders.

⚠️ When Your Policy May NOT Pay Out

It is important to know when your claim may be rejected:

Death during the waiting period (from natural causes)
You stopped paying premiums
Death while doing a criminal activity
Death during war, riots, or public disorder
False or fraudulent claims
You gave wrong information on your application
The person was involved in dangerous activities (like crop-dusting)
Fighting (except self-defence)

⚖️ 9. Your Rights and Where to Complain

If you have a problem with your funeral policy, you have the right to complain.

Step 1: Complain to Standard Bank First

Phone: 0860 123 999
WhatsApp: +27 645 700 291
Branch: Visit your nearest Standard Bank branch

They have 6 weeks to resolve your complaint.

Step 2: If Not Resolved, Contact These Bodies

National Financial Ombud (NFO)

For complaints about insurance policies

Phone: 0860 800 900
Website: www.nfosa.co.za
Email: info@nfosa.co.za

FAIS Ombud

For complaints about financial advisors who sold you a policy

Phone: 012 762 5000 / 012 470 9080
Website: www.faisombud.co.za
Fraud hotline: 080 111 6666

Financial Sector Conduct Authority (FSCA)

For unlicensed operators and serious misconduct

Phone: 0800 110 443 (toll-free)
Website: www.fsca.co.za

✅ Your Rights as a Policyholder:

You must receive a policy document within 31 days
All terms must be explained clearly before you sign
You can cancel within 31 days for a full refund (cooling off period)
You can add or remove beneficiaries at any time
You can add up to 5 beneficiaries to receive the payout

💡 10. Final Tips for Choosing Funeral Cover

Before You Sign Up

Calculate how much a funeral would cost for your family
Check who in your family already has funeral cover
Make sure you can afford the premium every month
Understand all the waiting periods
Know what is NOT covered

After You Have Cover

Keep your policy documents safe
Tell your family who is covered and what to do if someone dies
Keep beneficiary details up to date
Review your cover every year – costs go up
Never stop paying premiums – you lose all your cover

📞 Standard Bank Contact Details

Phone: 0860 123 999
WhatsApp: +27 645 700 291
SMS for quote: Send “BENEFIT” to 31492
Website: www.standardbank.co.za
Insurance site: insure.standardbank.co.za

✅ Quick Summary

Maximum Cover

R100,000

Claim Payout Time

48 hours

FSP Number

224

Underwriter

Liberty Group

Disclaimer: This information is provided for educational purposes and was last updated in January 2025. Financial regulations, fees, and requirements may change. Always verify current information with Standard Bank or official sources before making financial decisions. This article does not constitute financial advice.

Standard Bank Insurance Brokers (Pty) Ltd is an authorised financial services provider (FSP 224). The Flexible Funeral Plan is underwritten by Liberty Group Limited (FSP 2409).

For complaints or disputes:
Financial Sector Conduct Authority (FSCA): 0800 110 443 | www.fsca.co.za
National Financial Ombud (NFO): 0860 800 900 | www.nfosa.co.za
FAIS Ombud: 012 762 5000 | www.faisombud.co.za