About Our AVBOB Cashback Funeral Policy and How to Apply for It
Life is precious and so very short. Making plans surrounding our own death, or even the death of our loved ones is daunting. It is essential, though, that we take the necessary steps to prepare for all possibilities. This will simplify life for those left behind when we die. When we lose someone close, there is much to plan for and do before mourning can even be considered, and our insurance policies make this process much easier. While our focus is funerals, we at AVBOB also believe in celebrating life, which is why so many of our loyal members enjoy a tailored cashback policy. This means that you get to use and enjoy your cash payout as you see fit.
How the AVBOB Cashback Policy Works
Members who apply for a Cashback Funeral Policy will qualify for a cash payout. Policyholders who are claim-free for five years consecutively will receive their fifth year’s premiums back – in cash. This cash payout can be drawn, and members are free to use it for those everyday bills or their personal savings. The payout can also be added back into the plan to increase one’s cover. With the cashback option, you qualify for FREE funeral benefits when AVBOB is the designated funeral conductor.
This whole-life policy allows members to insure themselves and their entire family – including parents-in-law and extended family members. Another benefit of the plan includes that should the policyholder be retrenched, we offer a six-month premium holiday. To receive the payout, all 60 premiums (12 premiums per year for five years) must be paid in full for the entirety of the five years.
We Offer FREE Funeral Benefits
When AVBOB FUNERAL SERVICE LIMITED is chosen to conduct the funeral, policyholders of the cashback plan will receive FREE benefits, which include:
- R2 500 upfront cash payout.
- FREE funeral arrangements.
- A specified coffin and hearse to the value of R12 500.
- FREE transport of the deceased to any part of the country.
These benefits apply to members who have been covered by the policy for 24 months or more. Policyholders who have been covered for less than two years will still receive discounts on their funeral services through AVBOB.
Features of the Product and its Benefits for Your Loved Ones
There are several benefits that we offer to various members, from the policyholder to the children and extended members of the family.
- Accident Benefit: This benefit applies to the main person insured in the case of death due to an accident. We will offer a payment of double the insured amount to a maximum of R20 000.
- Breadwinner Benefit: If the main insured member (policyholder and premium payer) dies within the first ten years under the policy, the policy is automatically paid up for their insured partner, children, parents, and parents-in-law. If they die after being insured for over ten years, the policy gets paid up for extended family members too.
- Spouse Benefit: The life partner of the main insured member may be added under the spouse benefit. This partnership must be in a marriage or customary union recognised by South African law. It can also be a partnership recognised as marriage by any faith, as well as a same-sex or heterosexual union that is permanent in nature. Second spouses can be added as extended family members.
- Children’s Benefit: The main insured member can add all their unmarried children to this plan. This includes their children, stepchildren and adopted children. It covers children born or adopted after the starting date of the plan, including stillborn babies.
- Parent Benefit: A maximum of four parents (including parents, foster parents, stepparents, or parents-in-law) of the main insured person can be added under the parent benefit.
- Extended Family Benefit: The main insured member can add a maximum of six extended family members to be covered. This includes siblings, foster children, grandparents and grandchildren, uncles and aunts, nieces, nephews, and more.
The above benefits are all subject to our Terms and Conditions. For more on the limitations and exclusions of these cashback benefits, be sure to contact AVBOB today.
How to Apply with Us
Applying for the AVBOB Cashback Funeral Plan is easy, and all you need to do is click here.
For further information about the AVBOB family and AVBOB Funeral or Life Cover, there are many ways to get in touch:
- Visit your local AVBOB branch.
- SMS ‘CALL ME‘’ to 30776. The SMS is free.
- You can also call us on 0861 28 26 21.