Assupol Premiums Explained
April 24, 2016
Insurance premiums differ from one insurance company to the next, and there are good reasons for this. The business is all about determining premiums. The risk is the basis of these premiums; the greater the risk, the higher the premium. When you start comparing funeral cover premiums, you’ll notice that Assupol premiums are affordable. With Assupol you can ensure a beautiful send-off for your loved one.
When a company looks to set a premium, they will look at the claims history of similar groups of people and then add information about your particular history. The company then determines the exact premium. As an example, when calculating car insurance premiums, the insurance company will find out your age, gender, the theft statistics of the area you live and work in when calculating a premium.
Make Sure Your Assupol Premiums covers all Basic Costs
The key to funeral cover is getting yourself organised. There are always going to be some funeral costs that you can’t avoid paying – cremation costs, doctor’s certificates, burial costs, the coffin and the funeral director costs. You want to be sure that the premium you pay will at least cover all these necessary costs. Funeral plans can be purchased in a single payment or through monthly payments and it is up to you to make sure the plans you choose are adequate.
Funeral plans can be bought in a one-time payment or through monthly payments and it is up to you to make sure the plans you pick are sufficient.
Assupol’s Absolute Advantage Family Funeral Plan will pay between R3 000 and R20 000 payout. The plan includes more than just funeral benefits, and the premium you pay for this scheme will ensure you benefit from your policy while you are still alive.
Funeral Plan for Single People Too
This plan is also for single people and will pay you out within 48 hours or sooner. Whether you are single or a family, the premium you pay will ensure maximum cover of up R50 000. Assupol premiums with this particular plan will also cover up to 5 children. This Plan covers accidental death, and with natural death, there’ll be a waiting period of 6 months.
With Assupol’s Absolute Advantage Funeral Plan, if you would like additional options, you can have them. There will be an increased premium, which applies to both the Plans. With extra amounts on your Assupol premium, you can do the following –
- Provide your family with what is known as the Premium Waiver – you’re covered for a period after the death of your next-of-kin without having to pay a premium.
- You can add additional family members who are under the age of 79.
- There is the option to receive double pay for the event of accidental death.
- Benefit from the Family Income Benefit – income for up to 6 months after the death.
After all these Years – same Level of Commitment
Assupol is committed to sound underwriting principles. There’s not too much of a difference between the Assupol Absolute Advantage Funeral Plan and the Excellence Family Plan. Each has a premium of R70 a month. You will be able to cover your family and receive up to R50 000 when any insured member dies. With both plans, there are still going to be difficult times ahead with the loss of a loved one. But with Assupol premiums on these two schemes, you can rest assured that the road ahead will be that much smoother.
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All info was correct at time of publishing