Burial Society Premium Calculator
Work out the right monthly premium for your society based on cover amount, expected claims, and running costs.
How much does the society pay out per death?
Based on your society's history
Bank fees, stationery, meeting costs
How many full claims should your reserve be able to cover?
How long must a new member pay before they can claim?
Premium Guidance
Minimum premium (claims + admin only)
R100.00 /month
Keeps the lights on but never builds a reserve
Recommended premium
R162.50 /month
R100.00 claims & admin + R62.50 reserve levy
Reserve fund target
R45 000
3× your cover amount — enough to pay 3 claims back-to-back
Annual reserve build-up
R22 500
Reaches R45 000 target in ~24 months
Waiting Period: 6 Months
A new member pays R975.00 before they can claim. That covers 7% of one claim (R15 000).
Consider a longer waiting period. At 6 months, a new member costs the fund more than they've contributed if they claim immediately after.
Fund after 6 months: R26 250 (premiums minus admin only — no claims paid yet) — enough to cover 1 full claim.
The waiting period protects against fraud — it stops someone joining just to claim. The reserve fund is what keeps the society solvent.
Note: This is guidance, not actuarial advice. Your society should review premiums annually based on actual claims experience.
Zeturi tracks premiums, arrears, and claims automatically. The system enforces waiting periods so you don't have to.
How to Work Out a Burial Society Premium
- Enter your society's size and coverAdd the number of members and the amount the society pays out per claim.
- Add your costsEnter the expected claims per year and your monthly admin costs, such as bank fees and meeting costs.
- Choose your safety marginsSet a reserve fund target and a waiting period to see the minimum and recommended monthly premium.
Burial Society Premium: Common Questions
How much should a burial society premium be?
A premium should cover expected claims plus running costs, plus a levy towards a reserve fund. This calculator works out both a minimum premium (claims and admin only) and a recommended premium (which also builds a reserve) from your cover amount, expected claims, and member count.
Why does a burial society need a reserve fund?
A reserve lets the society pay several claims back-to-back so one bad month does not make it insolvent. A common target is three to five times the cover amount.
What is a waiting period?
A waiting period is the time a new member must contribute before they can claim. It protects the fund against someone joining only to claim immediately. Three to six months is common.
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