Funeral Premium Waiver from Assupol Excellence
January 20, 2017
The funeral premium waiver from Assupol could benefit you and your family. Assupol Life has two Funeral cover options, namely the Absolute Advantage and the Excellence Family Funeral plans. The Excellence plan from Assupol starts an R70 premium. It gives members the opportunity to plan their burial and that of their loved ones at a reasonable cost. Within 48 hours of submission, they will process and pay out the claim.The maximum cover is R75 000 for the primary member and spouse. While Assupol will cover other dependents at R 60 000 maximum. Here are a few examples of what Assupols funeral premium waiver could offer you.
Cover with Assupol – Funeral Premium Waiver
Assupol will cover children for a lifetime, even after they turn 21. New-born babies, as well as stillborn babies, have cover for the first three months. The policy does not require one to take medical examinations. However, there is a policy waiting period of 6 months from policy start date in the case of natural death. If the death is as a result of an accident, then cover starts immediately. Should there be a lag time between when one signs for the policy and when the policy kicks in. Assupol covers accidental death for up to R 5000 for the family of the placeholder. This includes five years after the passing of the placeholder without them having to pay any premiums in that period.
You can include other benefits for an extra premium. The policy holder’s family can receive an income for six months after the passing. As well as a double payout if the death is a result of an accident. You will receive your premiums back every four years, for an additional premium. At an extra cost, you receive the premium waiver plus benefit. This benefit covers the policyholder’s family, without having to pay premiums after the policy holder’s death. The premium waivers retrenchment benefit covers the insured family for six months. This means Assupol will cover your family without additional premiums.
This benefit is also available at an additional cost. For an extra cost a month, one could elect to have the policy reach a ‘paid up’ status once they reach the age of 65, meaning they are still covered and do not need to pay any more premiums.The plan also has an on-call platform for assistance with Aids-related queries, general medical or ambulance and emergency assistance and counselling in the case of trauma incidents, assistance with locating tutors for children and financial advice. The on-call plus benefit, which is at an additional cost assists with other expenses that can be incurred surrounding the death of the insured person without necessarily being related to the funeral such as groceries, electricity purchases and airtime.
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All info was correct at time of publishing