Best Family Burial Cover from Assupol
Assupol Life was last year rated South Africa’s leader in the insurance field. The company which is the insurance arm of the Assupol group of companies, was established a little over a century ago. It has over the years gained a reputation for offering South Africans some of the best family burial cover and savings products.
Assupol has distinguished itself in the funeral cover market with two unique products that offer the best family burial cover namely the Absolute Advantage Family Funeral Plan and the Excellence Family Funeral Plan. Both products are aimed at offering the insured and their family peace of mind during the time of death which is a very difficult time. While the finances cannot compensate for the loss of a dear one, they help ensure that enough funds are available to give the deceased a dignified send-off. Assupol assures clients that the payout will be available within 48 hours.
Best Family Burial Cover is Absolute Advantage
One of the driving ideologies in the Absolute Advantage Family Funeral Plan is that of letting the policyholder benefit from it even while they are alive. Another is the maintenance of a long-term relationship with the customer that is personalised to meet their needs.
The product has been customised to fit two categories of clients; single individuals and families. For the former, the payout will be issued in case of death of the insured. But in this Family Plan the payout is issued if either the insured or their spouse dies.
In both cases (individuals and families) the maximum payout that will be paid is R50,000. With the Absolute Advantage Family Funeral Plan the children of the insured are also included in the cover. Up to five children will be catered for but the cover can be extended to include other children and even members of the extended family. Any family member is eligible for this as long as they are below the age of 79 but an additional premium will be required for each of them.
Double for accidental death
Before any payout can be issued, the funeral policy will have to have been active for at least six months. However if the cause of death is an accident, the payout will be given immediately. You can make it double the payout in the event of accidental death if are willing to top up on your monthly premium.
Speaking of a higher payout, you can beat inflation and the changing value of money by increasing your premiums every year. If you think about it, the value of R50,000 today will not be the same as its value 5 or 10 years down the line. You can make sure the payout will meet all your funeral expenses in the future by taking advantage of the premium increase option. With this you will be assured of 6% increase in your payout every year.
If you have a family and are its breadwinner you will be interested in benefits like the Family Income Benefit. This feature will pay out a specific amount of money for six months in the event of your death. This will ease the transition for the family while seeing that their day-to-day needs are met.
Similarly the Premium Waiver feature will keep your family covered even after your death. Both these features require additional premiums. To enable the insurer to benefit from the policy while still alive Assupol instituted the Guaranteed Cash Back feature which pays out a lump sum every four years.
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