Funeral policies are the most popular insurance products in South Africa. They are highly lucrative for insurance companies, because of the sheer numbers in which they are sold, but they are also one of the most problematic forms of insurance for various reasons.
Traditionally their function has been to cover the costs of the funeral on the death of a person insured under the policy, but they are often bought with a broader purpose, as mini life policies.
This is because they are so easy to
