Insurance Products

Funeral Cover

family funeral insurance cover

It’s not pleasant to think about but it is important to prepare for the loss of a loved one. When you have funeral cover, you and your loved ones will receive financial support after the loss of a family member. It’s well worth considering the benefits of a DirectAxis Funeral Plan:

  • Get a total pay-out of up to R75 000 within 24 hour after you’ve claimed
  • No medical examination or HIV tests are necessary
  • Accidental death is covered in full after your premium is paid
  • The plan covers up to 11 people, which can include your life partner, children and parents
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Who will take care of your loved ones when you can’t?

By planning ahead, you can focus on a dignified farewell to a family member who has passed on, without costly funeral expenses being added to your heartbreak. For a monthly premium, which works out to only a few rand per day, you can have greater peace of mind knowing that unexpected and often expensive funeral costs are covered.

You can also choose to add a groceries plan that, should you pass on, pays out a fixed monthly sum of up to R1 200 to your family for 12 months. A memorial benefit can be added as well to help pay for the unveiling ceremony.

What will your monthly premiums be?

Your monthly premiums will be based on your personal profile which includes factors such as your age, the cash amount that you would like covered and other factors. For example, for a 30 year old female wanting R50 000 funeral cover the premium works out to R123.15 (which is R4 per day)*.

A male of 50 years of age wanting R30 000 cover would pay a monthly premium of R127.15 (which works out to be a little over R4 per day)*.

For a male aged 42 (who is the main member) and his 40 year old spouse, seeking R50 000 cover, the monthly premium works out to R291.65 – that’s just under ten rand per day for a husband and wife*.

*This is an indicative premium.

How will you pay?

We’ll arrange a convenient monthly debit order for you which will keep you covered for as long as you stay insured.

What is the waiting period?

In some instances you won’t be able to claim immediately. For accidental death you’ll be covered from the time that you pay your first premium. A claim cannot be made for death from natural causes within the first 6 months of taking up the cover. For pre-existing medical conditions the waiting period is 12 months, and for suicide, 6 months.

The DirectAxis Funeral Plan is underwritten by Hollard Life Assurance Co. Ltd, Reg. no. 1993/001405/06, an authorised Financial Services Provider.

For information about the DirectAxis Funeral Plan, please don’t hesitate to call us.

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Loan repayment terms range from 24 to 72 months. The maximum interest rate with regards to a DirectAxis Personal Loan is 27.75% per annum (compounded monthly). Your rate and initiation fee will be determined according to your personal risk profile.
An illustrative example of a loan at an interest rate of 27.75% per annum would be: Loan amount R50 000 plus a once-off initiation fee of R1 197.00 and a monthly admin fee of R68.40, over 72 months.
The total cost of the loan will be R 110 529.68 which is an Annual Percentage Rate (APR) of 30.95%.