If you are a government employee in South Africa and would like to buy life cover with Assupol then chances are you are here looking for Assupol life cover for pensioners.
The good news is that there is a cover for you offered by Assupol insurance, which is committed to offering products that meet the needs of South Africans of all walks.
What is this live cover we talking about?
Let’s find out!
Table of Contents
Assupol Life Cover For Pensioners
The Cornerstone Pensioner Plan from Assupol is cost-effective for government grant recipients who require funeral cover.
It offers a range of reasonable premiums and enough cash rewards to cover the costs of a respectful funeral.
Unlike previous burial society policies, the Cornerstone Pensioner Plan has no age limit and requires no medical evaluation.
Members may cancel their membership in the plan at any time, without penalty or notification.
Premiums are straightforwardly deducted from state funds. The scheme’s actuarial soundness is ensured through proper underwriting management.
The latter is significant because most people join at a very old age (over 60), and there is little chance that they will be subsidized by younger people who have a reduced insurance risk.
Cornerstone Pensioner Plan Benefits
The following are pensioners’ benefits under this Assupol cover and much more.
This benefit covers a pensioner’s spouse, children, and grandchildren under the age of 21 who are in their care. The members can add a spouse and up to eight children at a minimal additional cost. The spouse, child, or grandchild is covered for the rest of their lives.
Family Care Benefit
On the death of the Pensioner Plan members, this cheap addition offers a monthly income to their families. It acknowledges that in many rural communities, retirees are the primary breadwinners.
This benefit raises money to purchase a gravestone for a loved one. The money might be distributed in conjunction with the Pensioner Plan benefits or 6 or 12 months following a member’s death. This benefit requires an extra contribution.