Financial goals and group savings – Metropolitan funeral cover for burial societies

In an economic landscape marked by uncertainty and financial instability, traditional funeral savings for individuals often fall short of meeting the diverse needs of most South Africans.  

The ongoing increases to the cost of living has everyone considering ways to stretch their rands further by finding reputable/trusted financial services providers who can help groups who have a collective purpose of saving toward a funeral - “Burial Societies have joined the WhatsApp group”. Non-traditional, but highly effective savings groups like stokvels and burial societies offer a lifeline for those seeking to secure their financial life goals.  

Burial societies were created by communities to address a gap and the need of having a dignified funeral for those who were financially excluded by the tradition financial services providers. The amount of money required for such a solemn affair was seldom readily on hand for most of the population. Today, the stokvel, burial society or groups/associations industry is a billion-rand industry in the country. The 800 000 groups strong industry is still growing and so are their diverse financial needs.  

Belonging to a stokvel or society offers many benefits. Often, the members of our stokvel or our society are a part of our community and serve as pillars of support in times of need. These groups not only provide a means of accumulating funds to help members achieve their financial goals, but they also operate as the treasured adviser and collective decision-making force for the people in them – beyond family and friends, one’s stokvel or society qualify as their "squad".   

On occasion, the pressure to maintain harmony between our family and our society or stokvel squad while trying to achieve our individual financial goals can feel overwhelming. So how do we maintain these relationships without offending or jeopardising either. 

At Metropolitan, we understand the complexities that come with managing funds, relationships and maintaining trust amongst the collective members of a group. We also understand the importance of open conversations about our financial goals and the strategies we’re using to achieve them.  

We understand the pressures and shared aspirations of groups well enough to develop an insurance solution special for your squad, stokvel, burial society or association of professionals. Our Metropolitan Peace of Mind funeral plan offers you and your squad the opportunity to customise a funeral plan specific to your group member’s unique needs. With cover of up to R25 000, you’re guaranteed a quick payout once you’ve submitted a valid claim via our WhatsApp claim feature. 

Why go with a large insurance company for your burial society’s funeral cover instead of the smaller providers or the option to put money in a traditional transacting account? We’ve all seen the stories and many-a-member live with the fear of mismanagement of group funds or uncertainty about the support available when the time comes. Entrusting a designated individual with group funds requires confidence in their integrity and their knowledge and understanding of financial administration.

The ease and convenience of this new Metropolitan Peace of Mind funeral plan guarantees financial protection for the members of your group to help with funeral expenses and frees up your groups time to be dedicated to ongoing support for the deceased member's family and solidarity during difficult times. 

We have been in the business of helping our people reach their financial goals through solutions like funeral cover, life insurance and savings for over 125 years. We have also won industry awards for excellence in customer service, this demonstrates our commitment to help protect and provide for the members of your group and the extended families in difficult times.  

Talk to us. Together, we can give your group members & their families the right funeral cover while strengthening the bonds that unite us.