What kind of benefits can I get from the Funeral Cash Plan?
Affordable
Cover is not only affordable, but you can choose the funeral service provider of your choice and payment is made to the service provider. The difference between the full cover and the costs of the funeral service is paid out as cash.
No waiting Period for accidental death
Can extend benefits to other family dependants e.g. mother, father, mother in law or father in law
Simple and Easy
Useful Information
Cover starts on the first day of the month following payment of the first premium.
The maximum cover available is USD5000 for life assured before the age of 65 years, and USD2000 for those above.
Children below the age of 14 years, due to statutory requirements, enjoy 75% of any level of cover.
For more information, please contact us on (04) 757822 for direct consultant or visit your nearest Standard Chartered branch.
You Choose your Beneficiaries
You can extend benefits to other family dependants - father, mother, mother-in-law, father-in-law, etc.
Shorter Waiting Period
Cover commences after an initial three-month waiting period, for those above the age of 65 the waiting period is 6 months
No Medical Test Required
No medical test required for policy to commence
Details
How much do I have to pay?
-Death of policyholder or any of the listed dependants.
-Payment of Premiums will be dependent on the type of cover (principal member, per child, dependant or family cover) premiums will also be based on the age of the insured.
-Life assurance provided up to a maximum cover of $5,000.00 for any life assured. Please note there is no option for clients intending to increase the cash payout above theUSD5, 000 maximum limit.
-Life cover for those between 65 years and 74 years is up to a maximum cover of $2000 per individual.
-The Funeral Benefit Cover for any minor below the age of fourteen years (14) is restricted to seventy-five percent of the adult’s cover.
-This cover commences after an initial three-month waiting period. For those above the age of 65 the waiting period is 6 months However this does not include accidental death where cover is immediate.
-No medical tests required.
-30 days grace period is allowed for the payment of premiums.
-3 months reinstatement period is allowed for the payment of arrears. In the event of non-payment of premiums within the reinstatement period, the policy shall lapse and cease to be of any force or effect.
-The Policy matures after ten (10) years (no premiums are paid after 10 years)
-The good news is the Policy has option to extend benefits to other family dependants - father, mother, mother-in-law, father-in-law, etc.
-In addition the policy offers a 30 day free look period within which either party can cancel the contract and refunds made to the client.
This insurance policy is underwritten by Old Mutual Insurance Company (A member of the Old Mutual Group). The insurance coverage that this policy provides shall be at all times subject to the terms and conditions of the policy contract issued by Old Mutual Insurance Company. Standard Chartered Bank shall not be responsible for Old Mutual Insurance Company's actions or decisions under the policy contract nor shall Standard Chartered Bank be liable regarding payment of claims or services under the policy contract issued by Old Mutual Insurance Company. Premium holidays are not permitted.
