The FuneralFundi Plan provides for the payment of cash within 48 hours of Us receiving all the documents and information required to approve the claim, to cover funeral expenses in the event of the death of an assured life covered under the policy.
Life Assured Benefit - this is funeral cover for the policyholder.
Spouse Benefit - this is funeral cover for a spouse of the policyholder and may at any one time cover up to a maximum of 5 spouses only, where a spouse is defined under common law, customary law or a life partner arrangement. Proof of such relationship will be required at claim stage.
Parent Benefit - this is funeral cover for a parent of the policyholder and it can include a biological parent, step-parent or parent-in-law. Where the policyholder is an adopted child, parent can also include the person(s) who legally adopted the policyholder.
Child Benefit - this is funeral cover for a child of the policyholder and it can include the biological children, adopted children, step children, and any other financially dependent children for whom the policyholder is financially responsible. For child-headed households (i.e. where the policyholder is aged 21 or less), the siblings of the policyholder may be regarded as children. If two of the children covered by the policy are aged between 1 year and 14 years, they are covered for free. A stillborn child is included under this definition provided that there has been at least twenty six weeks of intra-uterine existence, the child showed no signs of life after complete birth, and the life of the foetus child has not been intentionally terminated.
Abazala Benefit - this is funeral cover for an extended family member of the policyholder. A maximum number of 20 extended family members may at any one time be covered under the policy. An extended family member is defined as one of the descendants, their spouses or their legally adopted children, of the great grandparents of the policyholder.
Additional benefits include:
Grocery Benefit – This provides monthly payments and/or shopping vouchers to the value of R150 per month for 6 months when the policyholder or spouse assured dies, to be used for grocery expenses.
Education Benefits – This provides monthly payments of R200 for 12 months when the policyholder or spouse assured dies, to be used for education expenses.
Airtime Benefit – This provides a one-off R250 airtime voucher when any insured person dies, to help with making funeral arrangements.
Premium Break - This benefit recognises that with regularly paid policies, there may be months where it may be difficult to meet premium commitments due to unforeseen financial circumstances (e.g. retrenchment, ending of employment contracts, etc.) and allows the policyholder to subsidise 'bad' months with 'good' months in terms of affordability.
Cash Back Benefit - Cash back of 50% of the quantum of premiums actually paid for every 24 consecutive monthly premiums we receive. Any Premium Breaks will reduce to zero the number of consecutive monthly premiums for the purpose of determining the 24 months.
Legacy Benefit - In addition, if the policyholder dies and his biological brother customarily assumes his responsibilities with respect to providing for the policyholder’s family, the cover for the deceased’s spouses, children and extended family may continueon condition that the deceased’s brother continues with the original premium payments by becoming the new policy holder. The benefits may not be changed in this case, and the only increases allowed will be those specified in the original contract, if any.
Abadala Paid-Up Benefit - When the policyholder turns 65, premiums may be stopped but the cover will continue, subject to conditions
*Terms & Conditions apply. I’ve you’d like to find out more, please contact us and we will take you through the details of the policy.