Losing a loved one is never easy, and the financial burden of a funeral can add significant stress to an already difficult time. In South Africa, where funeral costs can be considerable, funeral cover offers a practical and affordable solution. But at a time of economic crisis, more and more families are now going without it. As a result, an increasing number of companies are stepping in to provide their employees with group funeral cover. And that's not just out of the goodness of their hearts — a happier and less stressed employee is a more productive and efficient employee.Plus, these valued employee benefits also offer a great way to lure the best talent to the firm and reduce turnover.In this article, we'll look at some basic facts about funeral cover, why it's particularly important in South Africa, and why YuLife's offering is a cut above traditional rivals'.1. What is funeral cover?Funeral cover, also known as burial insurance or final expense insurance, is a type of insurance specifically designed to cover the costs associated with a funeral and related expenses. Its primary purpose is to provide financial support to the beneficiaries or policyholders' families during a time of loss.2. Why is funeral cover important?Funerals in South Africa are not cheap: research conducted in 2020 by SunLife Insurers found that South Africa is the fourth most expensive country in the world to die in. Often marked by elaborate ceremonies, gatherings, and rituals, funerals here come with a long list of various costs ranging from the casket to burial or cremation fees, transportation to catering. Not to mention the smaller but still significant miscellaneous expenses, such as flowers, printed memorial programmes, obituary notices and so on. In total, according to Moneyweb, funerals in South Africa can cost anything from R3,000 to R50,000. Basic burial or cremation services often fall within the R3,000 to R10,000 range, while elaborate services with catering and larger gatherings typically raise costs to between R12,000 and R50,000.At the very time when a family is suffering the emotional turmoil of losing a loved one, the extra burden of finding this kind of money is a level of stress that no one should be forced to endure. But even in normal times, the worry about how to pay for a potential funeral should a family member pass away can be a significant burden. And that means funeral cover can make a huge difference, not just to people's financial wellness but their emotional wellness too.3. How many South Africans have funeral cover?Unfortunately, the majority of South Africans currently do not have funeral cover. And in the face of continually rising fuel and food costs, that percentage has been steadily decreasing. According to a report by the FSCA (Financial Sector Conduct Authority), the percentage of South African adults with funeral cover dropped dramatically from 53% in 2019 to just 42% in 2021.4. What is group funeral cover?Group funeral cover is a type of funeral cover that companies provide to their employees. It works similarly to other group insurance policies, meaning that companies use their buying power to achieve lower premiums compared to individual insurance policies.5. Funeral cover with YuLifeFuneral cover with YuLife pays out a fixed amount to employees’ families in the event of a death. The employee's spouse and children can also be covered — but that's not all. YuLife takes a unique approach to insurance that makes it a far better choice for South African businesses than traditional providers. Firstly, unlike traditional insurance companies, YuLife harnesses the best technologies for a better all-around service. Most significantly, it leverages a user-friendly employee app for claims and policy management, making the process of claiming seamless and accessible.Partnering with YuLife also makes a positive impact on employee wellbeing. That's because, beyond just insurance cover, the YuLife app integrates features like mental health support, virtual GP consultations, and rewards programmes for healthy living. This improves overall health outcomes and motivates employees to engage in wellness initiatives.