Funeral loans: covering the costs

When there's no funeral policy, or a claim is slow to pay, families often use a personal or short-term loan. Before borrowing, check whether the deceased had a policy, a society (stokvel) membership or employer benefit — many families have cover they didn't know about. Ask the funeral parlour for an itemised quote and whether they'll wait for a pending claim.

What lenders check

• Income and affordability
• Credit record

Documents you'll need

• Green barcoded ID or smart ID card
• Latest 3 months' bank statements
• Latest payslip (if employed)
• Proof of address not older than 3 months

Watch out for

• Search for unclaimed policies with the ASISA life registry.
• Get itemised quotes from more than one parlour.
• Don't borrow more than the gap left after contributions and policies.

How quickly can I get a funeral loan?

Many lenders pay out within one to two working days after approval.

What does a funeral cost?

It varies widely by area and choices; ask parlours for itemised quotes.

Can the parlour wait for a policy payout?

Many will, if you show the claim has been lodged.

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