Exclusion clauses are not interesting to most South Africans. When they look for a good funeral plan, the underwriter must be a reputable long-term insurance company. They know that this ensures they have successful legitimate claims and payouts in the case of insured…
The people of South Africa want funeral cover – they know too well how planning a funeral can break them financially. That’s why you need to understand what waiting periods are. People see how not having a funeral plan in place can cause…
Funeral insurance fraud has once again raised its ugly head in Durban. Five people have charges against them for committing an act with the intent to obtain a fraudulent outcome from an insurance process. They intended to get benefits illegally. The five people…
Having quite a bit of money to your name means that you will want to write your own will. That’s so it can be clear what happens to your possessions and your money after you pass away. When you die, without a will,…
Is is worthwhile to have more than one funeral policy or not? The family pays a small amount of money for a funeral plan monthly. Then, when a family member dies, the family gets a lump sum. Funeral insurance protects policyholders against financial…
When you pass away, if you are wealthy, there will be some people, particularly family members clamouring for the wealth you amassed. It is far better for you to go about nominating beneficiaries before you die. You name the people in your will…
In the insurance policies of many insurers, provision is made for dependents. But what is the meaning of a dependent people ask? And many people ask the question: “What constitutes a “dependent child” regarding the meaning of a dependent? And for instance “is…
The Ombudsman heard a case around a common law wife dispute in 1997 when the insurer did not take into proper account the terms stated in his very own policy. The claimant had a common law wife and was the funeral policyholder. The…
May
25
What is a Deceased Estate?
When someone dies the assets they leave behind in a will comprise their estate. A so-called deceased estate sorts out who gets what. A simple will with not many assets is easy to conclude. However, if according to the will there is no…
How does a common law wife funeral policy affect your funeral policy? The safest thing to do is to name a person as the beneficiary as the insurer won’t always act as you think they should. In the case below, the insurance firm never…