Funeral Cover That Comes With Peace Of Mind
RMA Group Funeral Plan:
This is a group funeral plan offered to companies for the benefit of their employees. The policy provides a lump-sum payment to cover costs related to a funeral. For all valid claims, we will make the payment within 48 hours after receiving all claim documents.
Employers can join as individual companies, associations, or bargaining councils.
Every employee has a story. RMA Group Funeral Cover makes sure that story ends with love and dignity.
What Is The Difference Between A Group Funeral Plan And Group Life Cover?
Most consumers don’t understand that funeral cover is to cover the immediate expenses of your funeral after death and we pay the cash as a lump sum. Life insurance is an underwritten policy, which usually means you will undergo a medical test. You must answer other questions about your medical history.
Underwritten policies are more affordable, on the whole, for healthy people. This is because the insurer knows the exact risk of insuring you. Also, the benefits of life insurance are long term and the money paid out is higher.
The ‘group’ aspect comes because you will get life cover or employee funeral cover for everyone employed in the company. You will get an aggregated risk assessment based on the risk of the group (staff) as a whole. This makes it easier and more affordable for you to get life insurance than if every employee tried to get it individually.
Cover type and pay-out amounts
Cover options
Cover options
|
Option 1
|
Option 2
|
Options 3
|
Option 4
|
|
Benefit
|
R30 000.00
|
R30 000.00
|
R50 000.00
|
R50 000.00
|
|
Covered
Lives
|
Employee +
Spouse
|
Employee +
Spouse + Up to 6
six Children
|
Employee +
Spouse
|
Employee +
Spouse + Up to
six Children
|
Child benefits
Cover options
|
Option 2
|
Option 4
|
|
Stillbirth to 11mnth
|
R3 750.00
|
R5 000.00
|
|
1 to 5yrs
|
R7 500.00
|
R10 000.00
|
|
6 to 13yrs
|
R15 000.00
|
R30 000.00
|
|
14 to 21 years
|
R30 000.00
|
R50 000.00
|
Are Funeral Plans Worth Buying
Funeral cover is worth buying because when the employee passes away, we pay out a lump sum to the family within 48 hours. It is well and good for an employee to have life insurance, but because that’s part of their estate, the pay-out could take months.
Our group funeral plan does not work that way. It pays out as soon as possible after you have alerted us of the deceased’s death, and you lodge a valid claim.
An employee can pass away in many unfortunate situations. To protect employees’ families financially, RMA also has other products such as Group Personal Accident Cover to insure employees against injuries sustained at work, or you could also include cover for employees who commute consistently for company business.