How to start life insurance. Funeral Insurance, Funeral Cover, Funeral Policy,

My Funeral Cover is an insurance product from Bayport for existing customers, underwritten by Guardrisk Life Limited FSP 76, that offers you and/or your family the means to give a loved one a dignified funeral without having to worry about the financial burden. Funeral insurance.

My Funeral Cover allows you to choose how much cover you want, the premium you can afford, and the family members you want the policy to cover.

PLUS great additional benefits:

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Help with funeral arrangements

Discounts on funeral services

Access to healthcare professionals at a discount

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Help to bring the main member’s body home

6 months free cover for all other insured members in the event of the main member’s death

AND your family can get an extra pay-out every month, for 12 months, after the passing of the main member or spouse.

With the My Family Cover option, you, one spouse and up to five children, younger than 21, can be covered.

To qualify for My Family Cover, your children or dependants must be younger than 21 and live in South Africa on a permanent basis. Once the children turn 21, they are no longer covered by the My Family Cover and would need to be added as an Extended Family Member.

Current legislation limits death benefits for children across all funeral policies which you may hold with Guardrisk to the following thresholds:

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R10,000 for children up to six years old; and

R30,000 for children from six years to fourteen years old.

Legislation does not limit the death benefit for children older than fourteen years old, however, this policy applies the maximum total benefit of R30,000. The insurance cover for a stillborn child will be limited to R1,000, under this Policy.

You can also sign up for the My Monthly Provider. My Monthly Provider is a plan Bayport offers as part of My Funeral Cover or as a standalone product to help families cope with day-to-day expenses after the death of the main member or spouse. With this plan, your beneficiary will receive a cash payment every month for 12 months after your death. You can choose to receive a total pay-out of between R18,000 and R48,000 for the 12 months. This is over and above the funeral cash pay-out when taking out this plan with the Bayport My Funeral Cover. When you take this plan out, the additional benefits are limited.

If you choose R18,000 cover, your beneficiary will receive R1,500 per month for 12 months.

If you choose R48,000 cover, your beneficiary will receive R4,000 per month for 12 months.

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My Monthly Provider taken with My Funeral Cover

My Monthly Provider taken on it’s own

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Posted by at 09:54AM

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