The funeral cover is provided to an individual in the event of death from whatsoever cause except by war whether declared or not, from warlike activities, civil war, insurrection, riot, civil commotion, or acts of violence originating from any political or civil unrest subject to the contract.
For companies where cover is not compulsory for members, there shall be a six months waiting period before a claim can be made under the policy. For companies where it is compulsory for all members to be covered under the policy, cover shall commence immediately on payment of premiums.
The scheme operates as per the contract and may cover in addition to the member, their spouse or up to four children or close relatives (defined in contracts). In the event of death of an insured person, the policy will pay a lump sum to the employer either as a full payment or on a reimbursement basis subject to the contract.
The employer pays the premiums for the funeral policy. The employer may elect to bear the full premiums or have the employees contribute towards the premiums. The premium rates are reviewable annually and can be changed at any policy anniversary. The premium rates for various levels of sums insured are available on application at our offices.
Claims and claim payments will be processed and paid within 48 hours during weekdays and within 72 hours on weekends for full payment claims. Reimbursement claims are paid within 5 days. All claims are paid only upon receipt of death claim form and copy of death report. An indemnity form signed by the authorised signatories of the employer will be required in the absence of the relevant claim documentation/ evidence. The claim payment shall be made to the employer. Where payment of the claim will be based on the submission of an indemnity form, the employer will be expected to submit the requisite evidence of death i.e. death certificate or death report within 3 months of the date of settlement of the claim.
Advantages of the Funeral Policy
- Cash is readily available for purchase of a coffin.
- Cash is readily available for bereavement assistance.
- Cash is available for transportation of the deceased to the final resting place.