Welcome to our blog. In todays post, we will be talking about absa funeral policy. We will give you al the required details about the absa funeral policy. Kindly stay with us.
ABSA Funeral Cover
Absa Funeral Cover was developed to provide life and funeral insurance for the full family of South Africans. To match your specific needs, you can choose from a number of Absa Funeral Insurance options.
You and your spouse can get up to R100,000 in coverage. Children and extended family members can be covered for up to R50 000. Transportation of lifeless remains to the nearest funeral home in South Africa is free of charge. Protect yourself from rising rates by purchasing a coverage that only increases by 3% each year.
Absa Funeral Policy
- There are no medical exams or questions. When you pay your first premium, your coverage begins.
- Paying your premiums for five years will keep your loved ones’ funeral coverage valid after you die away.
- If you’ve had equivalent funeral cover for at least 6 months elsewhere and are switching to Absa, you’ll get full funeral cover from the start.
- Parents, in-laws, siblings, sisters, aunts, uncles, nieces, nephews, cousins, grandparents, grandchildren, great-grandparents, and employees can all be included in your funeral arrangement.
- Up to R100,000 in coverage is available for you and your spouse. Up to R50 000 in coverage is available for children and extended family members.
- No additional charge for transportation of lifeless remains to the nearest funeral home in South Africa.
- Protect yourself from escalating premiums with a policy that only increases by 3% every year.
- Your waiting period can be set aside if the policy is taken out to replace a similar policy.
How it works
- Absa Life insurance do not specifically exclude COVID-19. A claim arising from the virus will be paid, subject to your policy’s standard terms and conditions.
- Unless you are replacing a similar policy from somewhere where the waiting time has been served, you cannot claim for death due to natural causes in the first 6 months of your Flexi Funeral Plan.
- In the first 12 months of your Flexi Funeral Plan, you cannot make a claim for suicide death.
- You are covered from day one for accidental death.
- As long as you and your spouse are between the ages of 18 and 70, you can be insured.
- You can add children as long they are younger than 70 years.
- You can add extended members as long they are younger than 75 years.
Absa Flexi Account/Lump Sum Death Benefit/ Takaful Death Benefit
- The R15,000 funeral cover is included in the Absa Flexi Account.
- The R15,000 Takaful death benefit is included in the Islamic Flexi Value Bundle (Takaful is a type of insurance system devised to comply with the sharia laws, in which money is pooled and invested)
- The Absa Flexi Account and the Absa Flexi Value Bundle both offer additional top-up funeral cover.
- Terms and conditions apply
- The Absa Flexi Value Bundle provides a lump-sum death benefit of R15 000.
- The Gold Value Bundle offers a R20,000 lump-sum death benefit
- The Islamic Gold Value Bundle offers R20,000 Takaful death benefit
- Banking/Spouse Premium Premium Banking provides an R20,000 death benefit.
- Takaful death benefit of R25,000 is available through Islamic Premium Banking/Spouse Premium Banking.
Absa Life Limited, an Authorised Financial Services Provider, underwrites all Absa Funeral Policies.
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