Assupol Funeral Cover is a funeral plan that provides coverage for funerals with a minimum cover amount of R5,000.00 and a maximum cover amount of up to R100,000.00. Funeral plan premiums start from R70.00 per month.
Children can be added to the plan and will be covered for the rest of their lives, up to a maximum cover amount of R75,000.00. The funeral plan also covers stillborn children and newborn children for the first three months.
Extended family members can also be added to the plan, and there is no limit to the number of family members who can be added. Each family member can be insured for a maximum of R75,000.00.
The Assupol funeral cover allows policyholders to supplement their funeral plan with additional benefits. These additional benefits are discussed in detail below.
What can be added to the Assupol Funeral Plan
The Assupol funeral plan allows policyholders to add the following benefits at a premium:
Family Income Benefit
The family income benefit is a death benefit that provides income to the policyholder’s loved ones should he/she die. The plan provides recurring income to the policyholder’s beneficiaries for six months after death.
On the seventh month following the death of a policyholder, the benefit ceases to pay income to the beneficiaries. The family income benefit is intended to help a policyholder’s family financially in the months following the policyholder’s death.
This benefit is appropriate for breadwinners because it can provide financial assistance when their dependents do not have anyone to support them. The income can be adjusted to meet the needs of one’s family.
Accidental Death Benefit
The accidental death benefit pays out twice as much if you die in an accident. For example, if you are covered for R50,000.00 and have an accidental death benefit and die in a car accident, the plan will pay R100,000.00 in addition to the R50,000.00 cover amount.
A single or family plan can be purchased with a double payout on accidental death. However, an additional premium will be required to take advantage of the benefit.
Cashback Benefit
At an additional cost, the cashback benefit can be added to the Assupol Funeral cover. The cashback benefit pays out every four years, and even if a claim is made, the cashback benefit is available.
The cashback benefit reimburses you for your paid premiums. However, adding this product will raise the premiums paid to the Assupol Funeral plan.
Premium Waiver Plan – Death Benefit
When a policyholder dies, the premium waiver plan provides a financial benefit to the family. The premium waiver freezes the plan’s premiums, and no premiums are due if the primary member dies.
If the main member dies, the dependents are still covered under the premium waiver plan. Following that, dependents will pay no additional premiums.
Paid-up Benefit
The paid-up benefit allows policyholders to stop paying premiums once they reach the age of 65. When you reach the age of 65, you will no longer be required to pay any premiums.
The paid-up benefit is intended to help retirees reduce their living expenses. This helps keep the policy open at retirement and reduces the cost of the policy without causing it to be cancelled.
Memorial Benefit
A memorial benefit is a cash benefit that provides a lump sum after the death of an insured. The benefit pays an additional amount either five or eleven months after the death of the life insured.
The benefit is targeted at those who want or want their dependents to get a memorial ceremony. The memorial benefit increases the premiums of the Assupol Funeral Plan.
The Assupol on-call benefit provides HIV/AIDS assistance to policyholders. The benefit assists in providing medical information and general telephonic medical assistance. Transportation is provided in the event of a life-threatening medical emergency. Furthermore, the benefit covers the cost of admission to a medical facility. Transportation is also provided for the deceased and family members.
Health+ benefit
Health+ covers non-medical expenses incurred as a result of hospitalization. After three or more consecutive nights in the hospital, the benefit begins to pay.
With so many benefits to choose from, the Assupol Funeral Plan allows customers to design their funeral cover. There are funeral plans available through Assupol, and these plans are discussed further below.
Assupol Funeral Cover Options
Instant Funeral Plan
The Assupol Instant Funeral Plan is available online and can be purchased in as little as 10 minutes. A valid claim is paid within 24 hours of being accepted by the plan. At an additional cost, benefits can be added to the Instant Funeral Plan to make it more comprehensive.
Absolute Advantage Funeral Plan
The Absolute Advantage Funeral Plan is available over the phone. The plan offers up to R75,000.00 in coverage for the primary member and their family. A 6-month waiting period after the policy’s acceptance applies to natural death. Accidental death is immediately covered. Up to five children can be insured on the plan along with the spouse of the primary life insured. The plan’s benefits increase by 6% each year while premiums rise by 10% annually.
Excellence Family Funeral Plan
The Excellence Family Plan is available face to face with the help of a professional. The main member of the plan and spouse can get up to R100,000.00 maximum cover. Dependents can be covered for up to R75,000.00.
Advantages of Assupol Funeral Cover
There are different plans to choose from.
Accidental death is covered immediately.
The funeral plan is configurable, and individuals can add more benefits to the plan.
Stillborn and newborn babies are covered by the plan.
Premiums are very competitive.
Children can be covered for their whole life.
Disadvantages of Assupol Funeral Cover
The cashback benefit requires an additional premium.
Conclusion
Customers have access to a variety of funeral plans through the Assupol Funeral Cover. In order to make the funeral cover more comprehensive, add-ons are also available. These extra features make the Assupol funeral cover one of the best in South Africa when it comes to what a funeral plan offers.
