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VALUE+ FUNERAL PLAN
RANGE
A dignified farewell for you and your loved ones
Retail Mass Market Broker Distribution
February 2014
F2014 RISK ASSURANCE BENEFIT RANGE
THE VALUE+ FUNERAL PLAN RANGE
Individual Funeral Plan
Family Funeral Plan
Parents Funeral Plan (maximum of four parents)
Extended Family Funeral Plan (maximum of eight relatives)
2
F2014 RISK ASSURANCE BENEFIT RANGE
PRODUCT FEATURES AND BENEFITS
Minimum Premium: R70.00 per month
Maximum Cover: R50 000 (Individual, Family Funeral Plans)
R30 000 (Parents and Extended Funeral Plans) where the lives covered are additional spouse, son/daughter-in-law and own child)
R15 000 (Extended Funeral Plan - other relatives)
Premium Paying Term: Whole of life – until death, disablement
Benefit Increases: The Benefit increases will always be greater than the premium increase, in other words, cover gets cheaper over time
Premium Increases: Annually increasing premium at compound rate of 7.0%. Current rate but is subject to change in the future
Maximum Entry Ages: Policyholder: age 64 lbd
Other Lives: age 84 lbd
Waiting Periods: No waiting period applies for accidental death or disablement. 6 months for non-accidental causes and 12 months for non-accidental causes of disablement
Money Back Guarantee: If non-accidental death occurs in the first 6 months, a benefit equal to the amount of the monthly premiums received will be paid
Premium Holiday Benefit: The Premium Holiday allows for up to six premiums to be skipped, during the term of the policy. This benefit is available again to the client, on payment of the skipped premiums
Cash Back Benefit: Cash back of 5 months premiums’ after every 60 premiums paid
3
F2014 RISK ASSURANCE BENEFIT RANGE
PRODUCT FEATURES AND BENEFITS
Double Accidental Death Cover: On accidental death, double the amount of cover is paid out, even if policy is in a paid-up status
Death or Disablement: Full paid-up Benefit at any time during the policy term, after 12 (policyholder) months. A reduced Paid-up Benefit is available if monthly premiums stop after 10 years.
Terminal Illness Benefit: Provides for an accelerated lump-sum payment (50% of the cover at that time) – even if policy is paid-up, after 10 years
Medical Underwriting: No automatic medical testing. Health questions apply.
Surrenders & Withdrawals: Funeral plans do not acquire surrender values and no part withdrawals are possible
Effective Date for Increases: Both premium and cover increases are effective on the 1st July each year (subject to policy being in force for at least 6 months).
Cessions: Funeral plans may not be ceded as security
Funeral Support Benefit: Transport of the deceased by road or air from anywhere in the world to a funeral home closest to the burial
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F2014 RISK ASSURANCE BENEFIT RANGE
Access to the following Family Support Services* from independent service providers:
24 HOUR FAMILY SUPPORT SERVICES
Health support*: Telephone access to health advisers for assistance with health queries.
Trauma, assault and HIV treatment*: Assistance and treatment following assault (e.g. rape, hijacking, child abuse), accidental exposure to HIV or other kinds of trauma.
Emergency medical response*: Advice, emergency treatment and transportation to an appropriate medical facility.
Legal support*: Free telephone advice and assistance on legal matters, help with legal documents.
Important note:*Family Support Services - Certain terms and conditions apply to the facilitation of this access. For a copy of these, call 0860 00 1919.Old Mutual facilitates access to independent Family Support Service providers. Such access is not offered as a benefit under your insurance policy and may be varied or cancelled at any time. The service providers provide services directly to you on terms agreed between you and the service providers. Old Mutual does not accept any liability arising from the services rendered by the service providers.
5
F2014 RISK ASSURANCE BENEFIT RANGE
Full Paid-up Benefitafter 12 months
VALUE+ FUNERAL PLAN RANGE
6 month 5 years 10 years 15 years
R5 k
R7.5 k
R10 k
R15 k
R20 k
R25 k
R30 k
Cover gets cheaperover time
Money-back Guaranteein waiting period
Double Accidental Death Benefit
Cash-back of 5 months premiums after every 60 premiums
Reduced paid-up benefit evenif premiums cease after 10 years
Terminal Illness Benefit provides for accelerated lump-sum payment
6 premium skipsat any time
Wait
ing p
eri
od 6
month
s fo
r non-a
ccid
enta
l death
6
THANK YOU
Old Mutual is a Licensed Financial Service Provider