Assupol is a Proudly South African Funeral Cover Organisation
January 22, 2017
Assupol Life is a proudly South African Funeral Cover brand. It served the general South African population with care and was from inception created to cater for low to medium income household which at the time were police officers, jail guards and similar civil servants and celebrated 100 years of business success and existence in 2013. Assupol Life is now a group of companies that are all proudly South African. That proves it is a company, ‘for South Africans, by South Africans’.
These are Assupol Life Ltd that handle life insurance, then Assupol holdings which house Prosperity Life a black-owned insurance company and Cornerstone Brokers, which caters for the social grant pensioner market. Assupol, therefore, tries to reach South Africans from all walks of life. It has an extensive national network of branches and in addition to this has an on-call for telephonic assistance.
South African Funeral Cover – Two Options
It has two Funeral cover options, namely the Absolute Advantage and the Excellence Family Funeral plans. The Excellence plan from Assupol starts at a small reasonable R70 premium. Assupol processes claims and pays them out within 48 hours. The maximum cover is R75, 000 for the primary member and spouse. While the other dependents get R60000 cover at maximum. A rare policy attribute is that children get lifetime cover, 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.
It covers the family and policyholder for five years after the passing of the policyholder without them having to pay any premiums in that period. There is no cap to the number of family members one can cover this includes any number of children of the policyholder, their spouse and other family members. The Absolute Advantage plan has a singles and a family option this. In essence, gives the South African population more plans to choose from according to their needs and affordability.
Optional Benefits – South African Funeral Cover
Other optional benefits that can be added to the policies at an extra cost include:
A 6-month income provision benefit on the passing of the bread-winner, which doubles if the death is as a result of an accident. The premium waiver retrenchment benefit is similar to this for retrenchment. And The on-call plus benefit pays for sundries like airtime, immediate groceries and such expenses.
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All info was correct at time of publishing