Funeral Cover vs Funeral Policy
Funeral Cover
Funeral Policy
A Funeral Cover is a burial scheme
A Funeral Policy is long-term insurance that pays out a contractually agreed amount as per the escalation of the year increase.
Entry-level clients can be anyone who affoards the premium and can Pay Cash if not by Debit Order. (Taxi drivers, Retailer workers, street vendors, and Security guards.)
With a Funeral Policy, there is an entry-level market that the insurer chooses for their clients. There is 3 option given to collect premiums which are Dibet Order, Variable Debit Order, and Stop Order. (Government employees, Corporate workers, and Mineworkers.)
Most clients choose Cash Payment rather than Debit Order. These clients may not have a contractual job for premiums to be collected via Debit Order. Funeral cover can be paid in one of their respective branch offices.
Here, clients are requested to provide a pay slip for (Stop Order) and a bank statement for (Debit Order and Variable Debit order). These methods work well for Funeral Policy Insures because they have signed a contractual agreement with their client.
However, there is an option for a cash payment but it’s in your best interest and the Insurer to make sure that premiums are received to prevent your lapsing.
Lapse Rules for Funeral Covers
Lapse rules for Funeral Policies.
Lapse rules may differ from the contractual cover agreement with your company.
Once you find yourself with a Lapse Cover then you don’t have a cover for yourself and your loved ones.
So it’s always best to Honour your payment agreement with your Funeral Cover of choice.
With a funeral, the policy is mainly seen that if you miss 3 Concertive Premiums with your insurer of choice then your policy will lapse.
Having a Lapsed Policy means no cover for you and your Love Once should anything happen to you. So the collection method you choose may put your mind at ease for your cover and your loved ones.
Cancellation
Cancellation
Cancellation needs to be made by another contractual agreement you need to sign a Cancellation Form to Terminate the contract.
Cancellation needs to be made by another contractual agreement you need to sign a Cancellation Form to Terminate the contract.
These are the different rules one has to know about funeral Cover and Funeral Policy.
Funeral Cover providers you may know
Funeral Policy providers you may know
Metropolitan
Sanlam
Asupoll
Old Mutual
Kganya
Liberty
Thsipinoto
Momentum
Jama
Clientel
Dove
Hollard
Tiro
OUTsurance Funeral
B3
AVBOB
Leave a Reply