Old Mutual Funeral Cover

Why is Funeral Cover so important?

Funeral cover or a funeral policy is seldom considered until the time comes to organize a funeral. Funerals could cost anything between R5 000 and R50 000! The problem is that access to funds is temporarily suspended until such time as the estate is wound up.

There are a number of funeral plans available so identify what you need up front before making your choice. Is it cover for yourself; for yourself and immediate family; cover for your extended family, which could include your mother, father, brother, aunt, uncle, even your in-laws? Take a look at a few of our funeral cover solutions.

If you prefer to acquire sound financial advice then please provide us with some details and an Old Mutual Personal Financial Adviser will contact you.

Old Mutual offers three different funeral plans:

- Care Plan

- Comprehensive Plan

- Family Plan

Cover the whole family

Take out cover for yourself, your partner, your dependent children, parents and extended family.

More cover

Get immediate cover for accidental death after your application is accepted.

Keep up with inflation

Equal cover and premium increase are linked to inflation and will be applied once per year.

True customization

You choose and only pay for the cover you want and need.

Pay less

You could save money on your premiums and get access to over R50 000 by answering a few health and lifestyle questions.

Quick payout

Submit a claim with everything required and you will receive your payout within a couple of hours if you have a Old Mutual Account or within 24 hrs if you don't.

Greenlignt Funeral Cover

The Greenlight Final Expenses Benefit range is more than just funeral cover for you. You can protect your partner, children and even extended family.

It will pay a lump sum which can be used for funeral costs and any short-term debts, such as credit card debt.

You can choose cover for your entire life (whole-life cover) or for a specific period (term cover). The amount of cover you are able to buy will vary depending on the option you choose.

If you buy cover for:

• For Yourself: R50 000 to R100 000
• Your partner: R5 000 to R30 000
• Your children: R5 000 to R30 000
• Up to four members of your extended family: R5 000 to R15 000
• We aim to pay out within 48 hours after receiving all required documentation.
• You can sponsor final expenses cover for your family, if you have your own Greenlight cover. This means that we will not ask your partner, child or extended family to go for any medical tests or doctor’s visits.
• You get immediate cover for up to 30 days before you pay your first premium. If you have a valid claim in this period your beneficiaries will receive the full cover amount.
• It is available to HIV positive customers.

The Old Mutual Funeral Plan

The Old Mutual Funeral Plan is specifically designed to meet the requirements of your funeral, and offer you and your loved ones a number of benefits.

Pay-when-you-can

• Pay R49.95* and get R1 000 cover for 14 months.
• Pay R98.95* and get R2 000 cover for 14 months.
• Pay R219.95* and get R5 000 cover for 14 months.
• For only R49.95 you will receive R1 000 Family Accidental & Funeral Cover, valid for 14 months upon registration of the product!
• The pay-when-you-can product is only available to permanent residents of the Republic of South Africa, from the age of 18 and under 65.
• One Family Funeral Plan registration pack will cover you, one spouse and your own (biological, legally adopted or step) children up to the age of 21.
• There is only 2 month's waiting period for non-accidental causes for every registration pack or top-up you buy.
• Top-up to a level that suits you and your family and your pocket (up to a maximum of R18 000)

All your payments can be made in cash when the need arises or as you can afford it.

Below are just a few details on our policies

All our funeral plans have no underwriting done. There is a 6-month waiting period on death by natural causes. There is no waiting period on accidental death. If the life-covered passes away within the waiting period, all premiums are refunded.

Claims are paid out within 48 hours of all the documents being received. 

Care Funeral Plan

• No extra frills. Just the cheapest plan. 
• Both the cover and premium increase every year in June

Comprehensive Funeral Plan

• More expensive because of extra benefits
• Double the cover payout if the person dies in an accident
• Policy will become paid-up once the owner reaches retirement age. Benefits will still be active until death. 
• 6 premiums cash back after every 36 premiums received
• Terminal Illness Benefit - If the client gets diagnosed with a terminal illness and their doctor has reported that they have a life expectancy of 12 months of less, the client can claim half of the cover amount while still living. (waiting period is 10 years for this benefit)

Protect Family Funeral Plan

• More expensive because of extra people and benefits
• Double the cover payout if the person dies in an accident
• Cover amount: R5 000 - R100 000
  
• Premium Holidays - Skip up to 6 months premiums and still have cover
  
• Policy will become paid-up once the owner reaches retirement age. Benefits will still be active until death. 
• 6 premiums cash back after every 36 premiums received
• Terminal Illness Benefit - If the client gets diagnosed with a terminal illness and their doctor has reported that they have a life expectancy of 12 months of less, the client can claim half of the cover amount while still living. (waiting period is 10 years for this benefit)
• Other benefits include: Disability benefit, Grocery benefit, Cash-back and much more. 

Full list of all our funeral policies