Lion Life Umbrella Funeral Scheme
October 4, 2016
Lion Life also called Lion Of Africa Life Assurance Co Ltd., is an authorised Financial Services Provider. They are the only Level 1 BBBEE short-term insurance contributor in South Africa. And the company is one of the top 5 corporate and commercial insurers, providing services to many of the top 100 listed companies. They supply Lion Life Umbrella Insurance too.
What is Lion Life Umbrella Insurance?
You can think of umbrella insurance as an extra layer of protection or a safety net. Therefore, it provides protection and financial assistance for a family above their immediate liability limits.
So that means that the Lion Life Umbrella Funeral Scheme will provide not only economic benefits to the family on the death of a member but the funeral cover and other extra benefits as well.
Significantly, a Group Umbrella Funeral Scheme usually has a minimum of 1,000 members.
Voluntary Group Funeral Scheme
This kind of cover is for churches, funeral directors, stokvels, and burial societies. They also provide protectionC for individuals.
Compulsory Group Funeral Scheme
That is for employer groups and trade unions, for their permanent employees. Usually the premiums are collected by the company monthly, in advance.
As an employer, you may feel the need to provide assistance and financial support to your employees and their families in the event of any of them passing away.
The benefits of an Umbrella Funeral Scheme from Lion Life
- Affordability. The monthly premiums can start from as little as R2 per month.
- Cover is available for families, individuals, and extended families. Extended family members are accepted up to the age of 85 years.
- The maximum entry age for the primary member is 65.
- The premiums are paid monthly in advance and are usually collected by the employer.
- There is no waiting period applicable to accidental death.
- Natural death will have a waiting period from time of entry of 3-9 months, depending on circumstances
- Cover for suicide 24 months after entry
- Extended members pay a single rate
- Rates are adjusted and may be changed at any time, giving 30 days notice
- Funeral payout within 48 hours of death notification. This amount depends on the cover chosen.
- A grocery benefit.
- A tent, table and chairs are provided.
- A luxury hearse and two luxury family cars are provided for the funeral.
- A grave marker.
- Funeral programmes.
- R200 air-time.
- Assistance and legal aid in the event of trauma and assault. They can arrange counselling with a psychologist.
They can also arrange HIV protection treatment and guidance as a result of exposure.
You can call emergency medical services in time of need or accident.
Legal support is available – Wills, estate planning, tax help line, etc
Repatriation of the deceased within the borders of South Africa.
Lion of Africa offers an five different Umbrella Schemes for Individuals and Families. For instance, their most affordable Individual Plan starts at R65 a month for R10 000 cover. Their more expensive Individual Plan starts at R126 and is for R30 000 cover. With the Family Plan, the cheaper Plan starts at R98 a month for R10 000 cover while the most expensive Family Plan starts at R217 a month for R30 000 cover.
Lion of Africa Life Assurance has branches in Johannesburg, Woodstock, Durban, Cape Flats, and Port Elizabeth. For all your Group or Individual Umbrella Funeral needs to contact them today.
To get a FREE funeral cover quote just complete and then submit the form on this page
All info was correct at time of publishing