This is a funeral product that allows cover for immediate and extended family. It also offers an additional saving option, policy loans from the 3rd year, automatic premium waiver, disability waiver of premium benefit, optional memorial cover, as well as 10% premium cash back of risk premium in case of no claim after 5 yrs.(the latter is not applicable for policies under waiver of premium)
Product Benefits
Family Funeral Finance Plan has many benefits built into one solid policy including:
- An automatic 5% premium update to increase your benefits to help fight inflation
- An optional 10% premium update should you feel that 5% is not sufficient
- No medical questions or medical examinations needed
- Prompt, efficient settlement of claims on presentation of all relevant documentation
- On the death of a life assured or in the event of a claim being admitted under the disability waiver of premium benefit, the family members on the policy will continue to be covered until the life assured, had he/she lived, would have reached age 66.
- After age 50 but before age 65, you may choose any member on your policy to become the policy owner/premium payer with no changes on the benefits or the premium. The policy will expire when your reach age 66 unless it is transferred.
- Optional cash bonus can be taken with this product. This provides cash amount over and above your burial benefits.
- Memorial cover is an optional benefit that can be added to this plan. This benefit pays out one year after death of any member covered under this plan. This allows you to ensure that your loved one can be remembered with dignity and pride.
- A 28 days no-strings right to review period, from the date the policy document is posted, is allowed during which you may review the policy to ensure that you are satisfied with the purchase.
- 10% of all risk premiums paid (excluding cash bonus premiums) for this policy will be paid back every five years. The client has the option of encashing this amount or having it invested in units which will grow with investment returns to add to the unit value.
