FinChoice Funeral Cover

Finchoice is a loans and insurance brand. Its funeral cover is underwritten by Guardrisk Life Limited, a licensed life insurer. Finchoice Africa Ltd and Finchoice SA (Pty) Ltd are the authorised financial services providers that sell it, and Finchoice has been part of the Weaver FinTech Group since 2021.

The funeral policy is not part of a loan. Taking out one does not affect the other, and the funeral policy needs its own premiums.

Finchoice says there is no medical exam, and that you are covered immediately after applying. Waiting periods still apply, as set out below.

• Finchoice Funeral Cover is underwritten by Guardrisk Life Limited (FSP No 76); Finchoice is a loans and insurance brand, and this insurance is separate from its loan products. (finchoice.co.za)
• Cover of up to R100 000 per person from R49 a month for up to 19 family members on one plan (you, spouse, up to 5 children, up to 4 parents, up to 8 extended family). (finchoice.co.za)
• 6-month waiting period for natural death, 12 months for suicide or self-inflicted injuries, none for accidental death; waiting periods can be waived where similar cover with another insurer was held for at least 31 days and the waiting period had expired. (strapicms.finchoice.co.za)
• Premiums-back benefit: on the death of the policyholder only, premiums paid over the life of the policy are refunded on top of the benefit, provided no premiums were missed (extended family and parents' premiums excluded). (strapicms.finchoice.co.za)
• A 90-day grace period applies; unpaid premiums are deducted from any benefit paid during the grace period, and the policy lapses after it. (strapicms.finchoice.co.za)
• Claims must be notified within 6 months of the claim event; Finchoice's claims framework allows one full working day to review documents and a 48-hour assessment and finalisation period. (strapicms.finchoice.co.za)
• 31-day cooling-off period with full premium refund if no benefit has been paid or claimed. (strapicms.finchoice.co.za)

Plans as FinChoice describes them on its own website on 30 September 2026. Premiums depend on your age, the cover amount and who you add, so the published figures are examples, not quotes.

Extra benefits FinChoice lists:

• Finchoice Funeral Cover: Cover up to 19 family members on 1 plan (you, spouse, up to 5 children, up to 4 parents, up to 8 extended family); premiums-back benefit on death of the policyholder; claims paid within 48 business hours; no medical exam; covered immediately after application.

Sources: finchoice.co.za/...ucts/insurance/funeral-cover.

You can cover up to R100 000 per person, and up to 19 family members on one plan: you, your spouse, up to 5 children, up to 4 parents and up to 8 extended family.

The entry ages depend on the cover amount. The policyholder and spouse join at 18 to 65 at inception. At R60,000 cover the range is 18 to 60. Above R60,000 it is 18 to 50, and no parents or extended family can be added at that level. Children may not be older than 18, parents can be covered up to 75 and extended family from 2 weeks to 75.

Children under 14 have lower limits under the policy terms: a maximum of R20,000 for ages 0 to 5 and R50,000 for ages 6 to 13. The policy terms Finchoice links to are from 2023 and may predate the current product page, so ask Finchoice to confirm the limits for your family in writing.

For more on covering relatives, see funeral cover for extended family.

Finchoice says cover starts from R49 a month. The premium slider on its page showed R105 a month for its default selection, so your own price will depend on the cover amount, the people and their ages. Premiums are guaranteed for 12 months from the start of the policy.

The premiums-back benefit works on the death of the policyholder only. The premiums paid over the life of the policy are refunded on top of the benefit, provided no premiums were missed. Premiums for parents and extended family are excluded.

There is a 31-day cooling-off period, with a full premium refund if no benefit has been paid or claimed.

The waiting period is 6 months for natural death and 12 months for suicide or self-inflicted injuries. There is none for accidental death. It can be waived if you held similar cover with another insurer for at least 31 days and had finished that waiting period. Have your old policy schedule ready.

The law caps the waiting period for a natural death at six months and allows none for an accidental death, so these terms are within the rules.

Finchoice gives a 90-day grace period. Unpaid premiums are deducted from any benefit paid during the grace period, and the policy lapses after it. The regulator's minimum is 15 days for monthly premiums, so 90 days is more generous. Keep proof of every payment.

Checked on 30 September 2026 against FinChoice's official website. Numbers change, so confirm on the linked page before you call. FinChoice will never ask you to pay a claim fee or send money to a new bank account; if a caller does, hang up and phone the official number.

Sources: finchoice.co.za/contact-us, strapicms.finchoice.co.za/...hoice_SA_2023_694a84723c.pdf.

Finchoice lists these documents for a funeral claim:

• The claim form, completed by the policyholder or beneficiary.
• A certified copy of the death certificate.
• A copy of the DHA1663 notice of death form.
• A certified copy of the insured person's ID.
• A certified copy of the policyholder's or beneficiary's ID.
• A police report, for motor vehicle accidents, suicide, murder and any cause of death under police investigation.
• Proof of account for the policyholder or beneficiary, not older than 3 months.
• Proof of address for the policyholder or beneficiary, not older than 3 months.

Call 0861 346 246, the number for queries and starting a claim. The policy terms also give [email protected] for claims and queries. Notify Finchoice within 6 months of the claim event.

Finchoice's product page says claims are paid within 48 business hours. Its claims procedure allows one full working day to review the documents, then a 48-hour period to assess and finalise the claim. The regulator's rule is that an insurer must decide a funeral claim within two business days after it has every required document. Our guide to how funeral cover payouts work explains the steps.

Ask for the reason in writing. The main reasons funeral claims are declined are waiting periods, fraud and unpaid premiums, according to the industry body ASISA. An insurer may not turn down a funeral claim because you did not disclose something it never asked about before the policy started.

If you are not satisfied, complain to the National Financial Ombud on 0860 800 900 or at nfosa.co.za. It is free for the person complaining. The Ombud may dismiss a complaint if three years or more have passed since you knew, or should have known, that you had cause to complain, so do not wait.