Standard Bank Funeral Cover Review 2023

Standard Bank Funeral Cover

The Standard Bank Funeral Cover is a funeral plan that provides a maximum cover of R100,000.00 for the main member. Individuals between the ages of 18 and 65 can apply for this cover.

A spouse can also be covered under the plan for a maximum of R100,000.00. If the spouse is between the ages of 18 and 65, they can be covered under the plan.

Once enrolled in the plan, the primary member and spouse are covered for life as long as they continue to pay the premiums.

Children under the age of 24 can be covered under the plan for a maximum of R50,000.00. Children under the age of six can be covered for up to R20,000.00.

A child over the age of 25 who is enrolled in a registered institution can also be covered under the plan. The policyholder must add the child as an extended family member to the policy.

If they are between the ages of 18 and 84, parents and in-laws can be covered under the plan. The maximum cover amount for parents is R80,000.00, and the plan can cover a maximum of 4 parents.

Extended family members can also be covered on the plan, with a maximum of 8 allowable extended family members. Extended family members can be covered from the age of 0 to 84.

The Standard Bank Funeral Cover provides policyholders with benefits designed to supplement their coverage. Each plan benefit that can be added is discussed in detail below.

Standard Bank Funeral Cover Benefits

There are plenty of benefits that can be added to the Standard Bank Funeral Cover, with some that come automatically embedded in the plan. The following are the benefits that the Standard Bank Funeral Cover offers:

Double Accidental Death Benefit

The double accidental death benefit provides a double payout should the policyholder or the policy member die because of an accident. Within 14 days of the accident, the plan pays the funeral cover amount plus an additional amount equal to the funeral benefit.

Individuals who commit suicide are not eligible for a double accidental death benefit. This plan does not require an additional premium because it is included in the plan.

Premium Waiver Benefit

A premium waiver benefit is an embedded benefit in the plan that stops the plan if the primary member dies. To be eligible for the benefit, the policy must be active for at least 6 months, and at least 6 premiums must be paid to the plan.

The benefit covers the remaining lives assured under the plan for 6 months after the death of the main member without the need for a premium payment. The remaining members will then have the option of continuing the plan, with the spouse having the first option to become the policyholder.

The plan will be assigned a new premium, which the new policyholder will be responsible for. Should the spouse or other members of the policy not accept the new policy, the policy and its benefit will end.

Memorial Benefit

A memorial benefit is a benefit paid if the primary member or spouse dies. For an additional premium, the memorial benefit can be added to the plan. Only the primary member and their spouse are eligible for the memorial benefit.

The maximum payout for the memorial benefit is R20,000.00. The benefit is paid only if the funeral claim is accepted as valid.

Catering Benefit

The catering benefit is a benefit that helps pay policy beneficiaries for the cost of funeral catering. The benefit is available only to the primary member and their spouse. In addition to the funeral cover premium, an additional premium is payable on the plan.

The catering benefit has a maximum cover amount of R20,000.00. The funeral benefit claim must be accepted as a valid claim in order for the benefit to be paid out.

Grocery Benefit

The grocery benefit is a cash benefit provided if the primary member or spouse dies. The benefit is worth up to R2,000.00 per month for a period of 6 or 12 months. The maximum cover amount for the grocery benefit is R24,000.00.

The benefit is paid out for the first time within 30 days of the death of the primary member or spouse. Premiums will have to be paid in full for the benefit to be paid.

Repatriation Benefit

The repatriation benefit transports a life assured under the plan. Any policyholder can be added for the repatriation benefit. The repatriation benefit is charged in addition to the funeral benefit premium.

The repatriation benefit is available in two cover amounts: R10,000.00 and R25,000.00.

Airtime Benefit

The airtime benefit is there to provide a benefit should a life assured die on the policy. Airtime benefits come with cover options of R200.00, R500.00, and R1,000.00 airtime.

Advantages of Standard Bank Funeral Cover

  • The funeral plan caters to the immediate and extended family members of the main life assured.
  • The maximum cover amount of R100,000.00 is very high.
  • The plan comes with a double accidental death payout at no additional premium.
  • Dependent children of the main member can be added as extended family members and covered for life.
  • Premiums are waived for 6 months when the policyholder dies.
  • Parents, policyholder, spouse, and extended family members can be covered for life under the plan.

Disadvantages of Standard Bank Funeral Cover

  • There is a waiting period for death due to natural causes.
  • Most of the benefits that the plan offers come at an additional premium.

Standard Bank Funeral Cover Application

  • Applicants must be between the age of 18 and 65 at the time of application.
  • Applicants must have a valid South African ID book or Smart card.


The Standard Bank Funeral Cover provides a funeral cover that is easily customizable, particularly for the main member and spouse. There are numerous add-ons that can be included on the plan, but these add-ons are not free. The addition of many of these benefits may raise the payable premiums.

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