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Cashback Funeral Policy

AVBOB cashback funeral

AVBOB’s Cashback Funeral plan is a whole-life policy that allows you to insure the entire family, parents, parents-in-law and extended family members.

With AVBOB’s Cashback Funeral Plan the policyholder can get cash back for every five claim-free years*.  Provided there has been no claim over the entire five year period, AVBOB will give you your fifth years’ premiums back in cash*.
  • A six-month premium holiday in the event that the policyholder is retrenched.
  • Your own AVBOB Reward Account which becomes available at death or age 65* (only applicable to policies issued before 31 July 2018).

The following FREE funeral benefits* are available to all insured persons provided the insured person has been covered under the policy for 24 months or longer:
  • FREE funeral arrangement services
  • A specified coffin and hearse valued at R12 500
  • R2 500 cash upfront
  • FREE transport of the deceased anywhere in South Africa
*Benefits only apply if AVBOB is appointed to conduct the funeral.

For policies that have been in force for less than 2 years, AVBOB Funeral Service Limited provides discounts on funeral services.  Contact 0861 28 26 21 or visit your local branch to find out more about the funeral discount relevant to your policy. 

Product features

Breadwinner benefit On the death of the main insured person, the policy will become paid-up for the remaining insured persons, depending on the duration of the policy*. If the main insured person dies within the first ten (10) years of the policy, the policy will be paid-up for the spouse, parents, parents-in-law and children*. Should the main insured person die after the policy has been in force for ten (10) years, the policy will be paid-up for the extended family members as well*. 

*The benefit is only applicable to a policy where the main insured person is also the policyholder and premium payer.
Spouse benefit The person who is the life partner of the main insured person in marriage or customary union recognised by the laws of South Africa; or in a union recognised as a marriage in keeping with the principles of any faith; or in a same-sex or heterosexual union that is planned to be permanent, may be added under the spouse benefit.  If there is a second spouse, they can be added as an extended family member.
Parent benefit The parents as well as the parents-in-law of the main insured person  can be added under the parent benefit (maximum of four (4) parents).
Extended family benefit A maximum of six (6) extended family members of the main insured person can be added such as brothers, sisters, foster-children, grandmothers, grandfathers, grandsons, granddaughters, uncles, aunts, nephews, nieces, children-in-law, adult children, brothers-in-law, sisters-in-law, cousins, additional spouse and their parents and children.
Children's benefit Unmarried own children, step children or legally adopted children of the main insured person can be added to the policy. 
Accident benefit Double the insured amount to a maximum of R20,000.00 will be paid in the case where the main insured person on the policy dies as a result of an accident (suicide is excluded).

Insured amount
Minimum     :     R10 000
Maximum    :     R50 000

Waiting period
The cover in terms of the policy may be subject to a waiting period. A waiting period refers to a time during the life of an active policy when no benefit will be paid if a claim event happens, unless the insured person dies accidentally. The policy has a waiting period of six months from the policy issue date. This means that if any of the insured persons under this policy die as a result of natural causes, the benefit will not be paid. A claim will be considered only after the six-month waiting period from the policy issue date has been completed and six premiums were received from the policy start date. If the waiting period has passed but six premiums were not received from the policy start date when a claim happens, we will reduce the claim amount payable with the outstanding part of the six premiums that is still payable for the insured person who died. There is no waiting period for accidental death. An accidental death claim will only be paid during the waiting period if the policy started and we received the first premium. 
If you took out funeral cover with another insurer and that policy lapsed or was cancelled within 31 days before the issue date of a new policy with us, the whole, or a part, of the waiting period may be waived. If the waiting period under the previous policy had expired, no waiting period will be imposed under this policy. If the waiting period under the previous policy had not expired at the time of entering into the new policy, the waiting period equal to the unexpired part of the waiting period under the previous policy will be imposed by AVBOB, if the new policy provides the same or a lesser amount of funeral cover relating to the same insured person(s) as those covered under the previous policy. In order to waive the waiting period (partially or in total), proof of the start date, premiums paid to date, insured person(s), insured amount and the cancellation date of the previous policy from the previous insurer, will be required at application or at claim stage if not provided at application stage.

Cashback Funeral Policy Privileges, Conditions and Provisions

Word descriptions
For J18 Policies where the policyholder and the main insured person are the same person
For J19 policies where the policyholder/premium payer and the main insured person are differen people
For All Policies (J18 and J19)
Cash back benefit
Accident benefit
Spouse benefit
Children's benefit
Parent benefit (if applicable)
Extended family benefit
Survivor benefit
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