Absa | Explore our Funeral Cover (2024)

FAQs

What is the waiting period for Absa funeral cover? ›

The six months start when we receive your first premium. For example, if you pay your first premium on 1 March, you can claim after 1 September. If you are not the policyholder or listed as a beneficiary on the policy, you will need a letter of authority to submit a claim.

According to the FAIS Ombud, although there may not be a set maximum number of funeral policies you can have, there is a maximum payout limit of R100 000 for each life insured.

However, if you still do not pay the outstanding premiums and the grace period expires, your policy will lapse or terminate and should there be a death in your family, you will not enjoy any benefits from the policy. If you then want to resume your cover, you will have to start a new policy with new waiting periods.

All Absa Funeral Policies are underwritten by Absa Life Limited, an Authorised Financial Services Provider.

Cancel your life insurance or funeral policy and you won't get any money back, including the premiums you paid. This is because insurance policies are risk products, not savings and investments products, and don't have a cash value.

With most insurance companies, claims are paid within 30 to 60 days after they receive the required documents, such as a copy of the death certificate, the beneficiary's current address, etc.

If you or your family can't pay for a funeral in South Africa, your loved one may be considered for a pauper (destitute) burial.

The other big disadvantage of funeral insurance is the fact that a funeral will still need to be arranged once the lump sum has been paid, so family members or friends will be adding another job to the list during what can be a very difficult time.

Mutual Life Africa is Africa's largest Insurance Company and provides life insurance and funeral cover to all African nationals and expats across the world.

You don't necessarily need to worry about what happens to your body if you can't afford a funeral. Signing a form at the county coroner can authorize the release of your body to the state or county for burial or cremation. It may be possible to pay a fee to recover your ashes if your family would like them.

Can you get a refund on a funeral plan? ›

Once you've bought your Prepaid Funeral Plan, you will have 30 days to change your mind. So whether you've paid a deposit or paid in full, your money will be refunded if you cancel with 30 days.

You can have more than one funeral policy, but it might not make sense financially to pay monthly premiums for two or more plans. Speak to a financial adviser to get advice on which funeral plan will be the most affordable for you, whilst covering the number of people you need it to.

Chat to us on WhatsApp about your funeral policies by adding Absa Life (0860 227 253) as a contact and say “Hi”.

WhatsApp “Hi” to Absa ChatWallet (086 000 2428) to get started.

The Absa Flexi pays a lump sum in the event of the death of the policyholder and insured lives, allowing for easy access to the funds when you need them most.

A waiting period is a time frame in which you must wait before you can claim or have an insurance benefit paid out. This will differ from insurer to insurer but is usually stated in the policies terms and conditions. Most funeral covers have a 6-month waiting period.

A funeral service normally takes 1 to 2 weeks (7 to 14 days) to arrange and organise. Getting all the relevant paperwork filed correctly, gathering family and friends together in one place at short notice and making choices about the service are some of the factors that can increase this timescale.

The waiting period (i.e. 6 months) is calculated from the date of commencement or resale of this policy (whichever occurred last).