Standard Bank Funeral Plan
April 13, 2016
The Standard Bank Funeral Plan is no ordinary funeral plan so If your funeral policy isn’t offering more for your money than just to cover your funeral, you’re losing out.
Plus you can save yourself a lot of additional stress at a time of grief and confusion by taking out a funeral insurance policy.
While you are still alive you will be able to take advantage of some value-added benefits, making this plan well worth some serious consideration.
Set out below are some key highlights of the plan.
About the Standard Bank Funeral Plan
- the funeral plan is available to anyone under the age of 65.
- no medical examination is necessary.
- this is one of the most affordable funeral plans available. Choose the plan that’s right for you.
- you do not have to have a Standard Bank account to apply.
- the lump sum payout at death is tax-free.
- benefits are paid within 48 hours of receiving the necessary documents.
- monthly cash payments start one month after receiving the necessary documents.
- not only the immediate family may be insured on this Funeral Plan, but also the extended family, parents, and parents-in-law.
Premiums – for non- Standard Bank members
With the Family Plan, the monthly premiums are between R83 and R279, with payouts ranging from R10,000 to R50,000.
Individuals pay monthly premiums of between R38 and R120.
As with other funeral plans, some waiting periods apply to the Standard Bank Funeral Plan.
- accidental death, one month after the first premium
- normal waiting period for the main member, spouse, and up to 5 children, is 6 months
- for suicide, the waiting period is 24 months
- the waiting period for the extended family is 6 months
- for parents and parents-in-law, the waiting period is 12 months
Benefits of the Standard Bank Funeral Plan
The insured’s family receives monthly payments of up to R2,000 per month for 6 to 12 months after their death, depending on the cover chosen.
This may be used for groceries, or anything else that might be lacking as a consequence of losing the income of a loved one.
- bereavement or trauma counselling at R5,000 per person or R10,000 per family, following the death of a family member.
- emergency ambulance transport to the nearest hospital in the case of a car accident, or other life-threatening emergencies such as a heart attack.
- an airtime voucher of up to R200 is available following the death of the policy-holder or spouse.
- for doctor’s visits you will get 20% off the consultation fee if using one of the Standard Bank network doctors.
- if you use a network dentist , you will get 40% off the consultation fee.
- 10% off consultations if you make use of a Standard Bank optometrist, and 10% off your frames.
- medical expenses of up to R10,000 for the family will be paid in the case of any trauma event such as assault or accident.
- Medical Assist is available for any health query you may have. This is available 24 hours a day.
- a repatriation allowance is available to transport the body to the place of burial.
- memorial benefits are available for tombstones.
- in the case of a family plan, the monthly premiums will be waived for 6 months after the death of the principal policy holder, if the policy is older than 12 months.
- general funeral assistance.
The Standard Bank Funeral Plan provides the assurance that you can give your loved ones a decent send-off.
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All info was correct at time of publishing