Is Life Insurance a Replacement for Funeral Cover?

Life insurance and funeral insurance are two different financial products but many South Africans incorrectly believe that one can replace the other. You may have a R500,000 life insurance policy so what is the need for a R100,000 funeral cover payout? The fact is that these different products serve different purposes and one cannot replace the other. Ideally a person should have both life insurance and funeral insurance.

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