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Apr 04, 2024
Flowers on casket

Preparing for life's unexpected moments is crucial, not just for peace of mind but also to mitigate the emotional and financial strain that can accompany such times. Among these, the loss of a loved one is perhaps the most challenging. Funeral insurance emerges as a compassionate solution, offering a way to manage these concerns. It provides a safety net, ensuring that the financial aspects of a funeral do not add to the emotional stress of bereavement. This introduction sets the stage for a deeper exploration of funeral insurance and its significant benefits during difficult times.

Understanding Funeral Insurance

Funeral insurance is designed specifically to cover the costs associated with a person's passing, including the funeral and related expenses. This form of insurance is distinct from life insurance, which may provide broader financial support for the deceased's dependents but might not offer immediate access to funds for funeral costs. Funeral insurance ensures that these specific expenses are promptly covered, relieving families from the financial burden during a period of mourning. Its straightforward nature and the direct benefit it provides during a time of need highlight its importance as part of comprehensive financial planning.

 

The Financial Impact of Funerals

Funerals come with significant costs, including services, casket, venue, and other related expenses, which can accumulate quickly, placing a heavy financial burden on families. Without funeral insurance, families often face the daunting task of covering these costs out-of-pocket, at a time when they are least prepared. The financial strain can distract from the grieving process, making it more challenging to focus on celebrating the life of the loved one lost. Funeral insurance serves as a crucial buffer, ensuring that financial concerns do not compound the emotional hardship of loss.

 

Beyond the Financial—The Emotional and Psychological Costs 

The emotional toll of planning a funeral under financial stress cannot be understated. The peace of mind that comes with having funeral insurance cannot be quantified. Knowing that these arrangements are taken care of can alleviate the psychological burden on bereaved families, allowing them to focus on healing and remembrance. The foresight to secure funeral insurance translates to a form of emotional security during one of life's most difficult moments.

Conclusion

Funeral insurance is more than a financial safety net; it's a gesture of care for your loved ones during the hardest times. Consider the tranquility and security it can bring to your family, and let this be the moment you choose to protect them with Bona Life's funeral insurance.

 

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How do I make amendments to my policy?

Fill out an amendment form supplied by Bona Life, and attach relevant supporting documents based on the nature of the amendment. For example:

  • Addition of a child to policy – birth certificate
  • Change of name- marriage, divorce decree or affidavit
  • Change of bank- new banking details 
How do I get my statement for my investment or savings policy?

Send a request to client service team via the various touchpoints (walk-ins, email, Whatsapp, Facebook, telephone) to prepare a policy valuation. Policy valuation will be shared via your preferred medium.

How do I cede my policy for a loan?

Send a request to cede policy to Bona Life and on confirmation of policy status, you will complete a cession form. Attach the KYC forms and policy documents will be prepared showing the cession. This is what you will take to the bank to complete the cession.

How do I surrender my investment or savings policy?

Submit KYC documents, Complete surrender form, write surrender letter & attach bank statement for account that the money will be deposited to.