If you take out R30,000 Indie Funeral cover each for yourself and your spouse, it might cost you R100 per month in total – which is a pretty sweet deal in itself. After 2 years, you’ll still be paying R100 per month, but you’ll each have R60,000 cover that will pay out when you die. So that sweet deal becomes even sweeter.
And because we’re all about sharing the love, we’ll do the same for any family members covered on your policy when they hit the 2-year mark.
The answer has 2 parts:
At Indie, we use smarter technology to manage the business than older insurers do. Because we’re largely digital, we cut out many of the traditional costs, so our business is cheaper to administer and we can pass those savings back to you through lower premiums. Even better, your Funeral Cover premium doesn’t increase by a set rate every year, and will only change if there are many more claims than expected.
Because Funeral insurance is not underwritten, insurers experience many claims within the first 2 years of issuing a policy because some clients take out policies on their own life or other people’s lives, expecting to claim relatively soon (if they are already ill, for example). Experience shows us that after the first 2 years, we are normally left with healthier clients. So we can reward these clients with double the cover because they are expected to enjoy a longer, more prosperous life. So with Indie Funeral Cover, you can get up to R100,000 cover for the price of R50,000 cover.
And if you’re looking for another great reason to stick around for longer, check out our Wealth Bonus.