- Funeral Expenses Cover
- Immediate Expenses Cover
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Plan for the unexpected
No one wants to think about passing away – especially when you are young and healthy. But what would happen if you or your loved ones were to pass away unexpectedly. Would there be enough to pay for the funeral, travelling and accommodation expenses of relatives, food and drinks during the funeral ceremony?
Funerals in South Africa can cost tens of thousands of rands and your family shouldn’t have to worry about the financial aspect during these heart-breaking times.
Sanlam Funeral Expenses cover provides a lump sum pay out, which can be used to pay for things like:
- Burial or cremation
- Flowers
- Food
- Headstone or memorial stone
- Graveside tent
- Programmes for service
- Preparation, storage and transport of body
- Registration of death
- Travel costs, etc.
Funeral Expenses Cover
- Get cover of up to R100 000*
- No need to answer any medical questions for the people you want to provide cover for with this benefit, not even a short medical questionnaire
- The benefit aims to pay within 48 hours**
- You can provide cover for yourself, your immediate family or extended family***
- The benefit can be added to new or existing plans – no need to take out a separate funeral product for extended family members
- People aged 70 - 84 can be covered for up to R40 000, ensuring financial protection when it matters most.
- The maximum guaranteed term is 15 years, that means long-term rate stability.
*Cover for children under 14 years is limited according to legislation
**Waiting periods for claims due to natural causes and suicide apply, as indicated in the contract documents under the life insured’s name. This could be waivered in some instances.
***The Funeral Expenses benefit cannot be the only benefit on your plan. Please consult your financial adviser for more information.
Immediate Expenses Cover
The Immediate Expenses Cover aims to take care of the costs incurred soon after the passing of a loved one, such as living costs of the dependants and insurance of estate assets.
Get a lump-sum payout of up to R150,000 within 48 hours to use on expenses such as:
- Ensuring short-term insurance is intact
- Bond or mortgage instalments
- Vehicle and home insurance premiums
- Credit cards and personal loans
- Municipal accounts
- General living expenses for those who were financially dependent on the deceased
faqs
Frequently asked questions
What happens if I can’t pay my premium on my funeral cover?
It is important that you regularly pay your funeral cover premium to keep your cover intact. Should you be unable to pay your premium, it may have an impact on you being covered. It is very important to contact us immediately should you skip premiums, to discuss options of how to keep your valuable cover in place, and stay protected.How does Wealth Bonus® and Cashback work?
We've created two valuable benefits that reward you for keeping your cover in place. As a Sanlam client with a qualifying product, you have the option of adding our Cashback benefit to any qualifying new or existing risk plan. It rewards you for keeping your cover intact, and pays out after 15 years of continued contributions to your policy. A set additional payment of 50% is charged for the Cashback benefit on a specific cover layer. This payment falls away after 15 years – even if the Cashback amount is left to further accumulate – ensuring great value for money.
Put the payout towards your children’s education, home renovations, unexpected expenses or even your retirement. Alternatively, you can choose to leave your lump sum to grow until you need it. You can also look forward to benefiting from Wealth Bonus® – a portion of your contribution that’s invested in a Money Market fund until you turn 70, ensuring that your money keeps making money. Wealth Bonus® unlocks every 5 years, a portion of your Wealth Bonus® is made available to you to withdraw or leave invested.
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