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Funeral Cover for Large Groups


Companies, unions, churches, etc. often start looking for funeral insurance in all the wrong places. Finding cheap, yet inclusive funeral cover quotes for large groups can be easy. We can help you from start to finish. Our service is exactly what you need. There is no group to big or too small. We can assist your group in finding the best possible products & services.

Determining Premiums for Large Groups

Do you know what the biggest difference is between normal quotes and quote for large groups? It is the way the premium is calculated. With a normal policy, the contributions are calculated using data for a single person. This makes it rather easy to determine the risk.

For a single person, the premium is mostly determined by the age of the applicant. Also considered is the amount of cover required. The cost will rise subject to the amount of extra people you want to add. There will be different brackets for every family member. Your relationship with the person will influence the cost. It will be less for direct family. The ages and cover level will also play a vital role.

With a large group, the cost will rely on the averages of the group. There will be actuaries that define the risk using many aspects. This can include claims history of the group, etc.

Is it More Expensive to Insure A Large Group?

The answer is most definitely not. The basic code of insurance is the premium of many; makes up for the loss of a few. If you combine a group of people, the risk will spread evenly over the group. It can be cheaper to insure a group, rather than insuring members alone.

What Group Size is Considered a Large Group?

When getting funeral cover quotes for a large group, there is no group too big or too small. For logistics, in some cases a group of 50 or more will be a “large group.” However, it depends on the situation. In some cases, a group will start on 1000 or more members. It other cases, a group can be as little as 100 members. It depends on your group needs.

If a group is smaller than 50 members it is sometimes more effective to apply for individual policies. Some elements that will decide this will be for example staff turnover.

At InSHoor™, we can help define the most viable method of applying for funeral cover quotes for your large group. We can help your group build the best possible memorial plan.

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How is Premiums Paid for Large Group Funeral Cover?

There are several ways to pay the cost of the policy. When it comes to funeral cover for large groups, the payment options are flexible. Depending on the premium payer, there are a couple of options to consider.

Full Contribution: The employer or group admin can settle with the payment in full.

Partial Contribution: The employer or group admin can subsidize the cost partially. For example, the policyholder can pay a part of the cost.

Extended Partial Contribution: The main member can pay in full by the employer or group administrator. If the main member wants to add extended members, the can do so. The main member will have to pay for the extra members.

Benefits of a Group Funeral Plan

There are ample benefits of having funeral assurance. Giving your employees or group peace of mind and can be priceless. Often the family of a deceased will have to look for assistance from the group. The deceased is sometimes the sole breadwinner.

Management Presentation

If you need any further information, feel free to contact us at any time. We present your management with a free, no obligation presentation. We can explain all the benefits of having a quality funeral plan for your group or teams.

If you are an employee or part of a large group, please let us know if you want us to contact your management team. We can do our best to arrange a meeting to explain the benefits.

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