Insurance Scheme for Pensioners
Our pensioners’ group scheme insurance product is built on a simple promise – to put the needs of our members first. When you join this group scheme, you get the peace of mind in knowing AVBOB will take care of all your funeral cover needs.
COVER AMOUNTS
All senior citizens from the age of 55 years can join the Group Funeral Insurance Scheme for Pensioners. The minimum age of the main insured person at the start date of the policy is 55 years for a once-off single premium policy and 65 years for monthly premium policy. If you are older than 84 years, you have to make a once-off payment.
The payment options to choose from:
Monthly premiums
Age: 65 - 74 | Monthly premium Cover amount | R150 R8 000 |
Age: 75 - 79 | Monthly premium Cover amount | R180 R8 000 |
Age: 80 - 84 | Monthly premium Cover amount | R220 R8 000 |
Once-off payments
Age: 55 - 84 | Once-off payment Cover amount | R10 000 R10 000 |
Age: 85 and older | Once-off payment Cover amount | R10 000 R10 000 |
EXTRA COVER
There are often extra costs involved in a funeral. With the added Extra cover benefit, the following expenses will be taken care of:
- Municipal grave costs
- The cost of removing/amending an existing tombstone (if a person buried next to/in the same grave as their loved one)
- Cremation fees
- Payments to church officials
- Fresh flowers
Monthly premiums
Age: 65 - 74 | Monthly premium Cover amount | R30 R2 000 |
Age: 75 - 79 | Monthly premium Cover amount | R40 R2 000 |
Age: 80 - 84 | Monthly premium Cover amount | R50 R2 000 |
Once-off payments
Age: 55 - 84 | Once-off payment Cover amount | R2 000 R2 000 |
Age: 85 and older | Once-off payment Cover amount | R2 000 R2 000 |
WAITING PERIODS
1 | Monthly premiums A six-month waiting period
|
2 | Once-off payment No waiting period applies. However, the policy must have been issued, and the single premium must have been received by AVBOB. |
EXTRA COVER OPTION
1 | Monthly premiums A six-month waiting period for extra cover will apply if you die of natural causes |
2 | Once-off payment No waiting period for extra cover |