MORE YOUNG SOUTH AFRICANS BUYING FUNERAL COVER

During the last three years, Standard Bank Insurance Brokers has seen an uptake of funeral policies for customers between the ages of 34 and 45. Previously, the average age of customers taking out funeral cover was between the ages 45 and 55, but there has been a visible move in the entry age. Some customers have also opted to extend the funeral cover to parents and extended family members that they are supporting financially. The bank said that the recent Covid-19 pandemic was a contributing factor to customers becoming increasingly aware of life changes and the importance of making sure that their family needs are met.