Personal - FAQ's For Funeral Plan

Although we do not like to think about it much – the day will come when death will occur in your family and/or extended family. Funeral plans are designed to help you plan ahead. By having a Funeral Plan, you can reduce the financial burden that the cost of a funeral may present.

No

A funeral plan pays out a lump sum when you pass away. You can also purchase a family funeral plan, sometimes referred to as extended cover, which pays out a lump sum in the event of the death of your partner/spouse, your child/children, and/or any other family member, you have chosen to cover with the policy.

A funeral plan pays out a lump sum cash benefit upon the death of an insured person.

Your premium will depend on the level of cover selected, the number of family members on your policy as well age dependant for parents and extended family members.

You can cover your family by adding a family funeral benefit to your funeral plan, sometimes referred to as extended cover. A family funeral benefit covers your partner, children, and any other family members you choose to cover for a small additional premium.

You can cover your immediate family members; sometimes referred to as Immediate Family Cover.  A family plan covers your partner and children.  You also have an option of covering extended family members i.e. parents, parents' in-law and extended family members at an additional small premium per person.

• Cover for you will cease when you pass away, as long as your premiums are up to date.
• Cover for your partner and/or other family members, such as your parents, will end when you pass away or when they pass away, whichever comes first. As long as your premiums are up to date.
• Cover for your children will end when you pass away, or when they pass away or when they turn 21, whichever comes first. As long as your premiums are up to date. If your children are unmarried full-time students, mentally or physically impaired then in some cases their cover may be extended to the age of 25.

Yes, provided premiums are paid by the family members covered on the policy. Some insurers offer that your family will be covered on the plan and will get 12 months free cover after you passed away. After the 12 months, any person can take over the payment of the premiums.

Depending on the insurer, the grace period will differ whereby the insurer will have certain amount of grace day periods that will range from 15 to 30 days.  This will have to be discussed with the insurer selected.

Yes you can reactivate your plan, the waiting periods will re-apply.

A benefit will not be paid if a claim arises from, or is the result of:

• Any criminal act committed by you or an insured person.
• War, invasion, acts of foreign enemy, hostilities (whether war be declared or not), civil war, revolution, insurrection or military or usurped power, riot, civil commotion or public disorder.
• Ionising radiations or contamination by radioactivity from any nuclear fuel or waste.
• You or the person claiming, not being honest about any material information asked in connection with a claim.
• Fraud

The driving of any vehicle while the insured person was under the influence of intoxicating liquor/alcohol or a drug having a narcotic effect or if blood alcohol levels exceeded the legal limit.

The waiting period starts on the date that an insured person becomes entitled to the cover. No benefit will be paid if death occurs during the applicable funeral policy waiting period. General waiting periods are:

• 3 - 12 months for death as a result of natural causes.
• 24 months for death as a result of suicide.
• Some insurers will imply a 6 month waiting period for natural causes.

There is usually a 30-day cooling-off period. If you cancel your funeral plan within the first 30 days of commencement (for any reason whatsoever) you should receive a full refund of that months premium that have been paid, provided that you have not claimed.

If you cancel your funeral policy after the 30-day cooling-off period, you will not get anything back as funeral insurance policies do not acquire any surrender or paid-up value.

All benefit payments are to you. If you die, we will pay the benefit to the person you have chosen to receive the benefit (your nominated beneficiary for proceeds). If you have not nominated a beneficiary, the benefit will be paid to your estate.