GENERATIONAL FUNERAL PLAN

Waiting periods

• The waiting period for natural death on the funeral plan is 6 months and 6 paid premiums.
• There is no waiting period for accidental death of any Assured Lives covered on the policy after the receipt of the first premium.
• The above also applies to Assured Lives who have been added onto the policy after the policy has commenced.

Benefits included in your policy

A Good Gesture: To assist the bereaved family with minor expenses associated with the funeral that occurred during the waiting period because of natural causes. If death occurs during the fifth month of the waiting period, the beneficiary/ claimant will enjoy a benefit of R1000 for the policyholder, R300 for child dependents under 1 year of age, and R450 for child dependents under the age of 22 years. If death occurs during the second to fourth month of the waiting period, the benefit payable for the policyholder will be R500, and R150 for child dependents under 1 year of age and R300 for child dependents under 22 years of age.

Burial Repatriation Benefit: The benefit provides transportation of the deceased from the place of death, which includes the Republic of South Africa, Namibia, Zimbabwe, Botswana, Swaziland, Lesotho and Mozambique (south of the 22nd parallel) to the final funeral home closest to the place of burial within the borders of South Africa and adheres to cultural requirements in this respect. Provision has been made for one family member to accompany the deceased during transportation and accommodation for this family member will be catered for.

Benefit and premium increases

Your benefits and premium will remain the same for 12 months. After this, we will increase your benefits and premium only if you receive an increase to your government grant. This increase will be based on the percentage increase of your government grant minus 1%.

Example: You pay R204 premium p/m for R10 000 cover.

1. For 12 months your premium remains at R204 p/m.
2. Your government grant is subsequently increased by 10%.
3. Your premium and sum assured is Increased by 9% = grant increase percentage less 1%.
4. Your premium will increase to R222.36 (an increase of R18.36) which is 9% of the initial R204 premium (grant increase percentage less 1%).
5. Your policy benefit will increase to R10 900 (an increase of R900) which is 9% of the initial R10 000 cover (grant increase percentage less 1%).

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