Category Life Insurance

Flexible payment terms with new age technology in latest funeral cover from Old Mutual

24 March 2011 Old Mutual

In answering to the changing needs of today’s customers, Old Mutual has updated its ‘Pay-when-you-Can’ Family Funeral Plan to bring customers more convenience and affordability when wanting to protect their families.

Says Thembisa Mapukata, Marketing Executive: Mass Foundation Cluster at Old Mutual, ‘Discussing funeral planning is never a pleasant experience but it remains o­ne of the best ways to ensure the security of your family. Our belief is that your financial situation should not stand in your way when wanting to obtain funeral cover for your loved o­nes.’

Old Mutual’s latest ‘Pay-when-you-Can’ Family Funeral Plan is aimed at customers with irregular incomes or who may not be able to commit to regular monthly payments o­n a sustained and long-term basis. It allows customers to buy funeral cover for their families by using their cell phones as a way of registering a policy and buying the required cover.

Launched in collaboration with Shoprite Checkers, the funeral plan is available immediately and is simple and easy to understand. All that customers need to do is pay for their registration pack which will have a secure pin and then follow the instructions for registration in the pack. Customers also have an option to top-up their cover according to their needs. With no regular monthly payments or debit orders necessary, and a two month waiting period, customers will o­nly need to top up two months before the Cover End Date to continue receiving full insurance cover. Register via cell phone and top up regularly to remain covered.

Adds Mapukata, ’It is critical that we constantly stay in touch with our customers’ changing needs. Our funeral plan aims to give customers peace of mind, together with convenience and affordability. It assures customers that at least some of their expenses will be covered at the time when they need it most. O­ne payment covers you and your family for 14 months and the most convenient part is that no regular monthly payments are required - you just need to top-up at atill at your nearest Shoprite Checkers.’

The initial cover when purchasing a family funeral plan is standard, then depending o­n the family needs, the cover can be topped up to a maximum of R18 000. It is important to remember that the reason for buying the insurance is to be able to cover the financial effects of your death that may be untimely or unexpected.

Mapukata says that insurance cover can be topped up at anytime during this period by simply buying a top-up voucher from Shoprite Checkers. For example, for an extra R98.95 a person can increase their cover by R2 000. By buying more top-up vouchers the insurance cover for the 14-month period can be increased to a maximum of R18 000.

Quick Polls


How confident are you that insurers treat policyholders fairly, according to the Treating Customers Fairly (TCF) principles?


Very confident, insurers prioritise fair treatment
Somewhat confident, but improvements are needed
Not confident, there are significant issues with fair treatment
fanews magazine
FAnews June 2024 Get the latest issue of FAnews

This month's headlines

Understanding prescription in claims for professional negligence
Climate change… the single biggest risk facing insurers
Insuring the unpredictable: 2024 global election risks
Financial advice crucial as clients’ Life policy premiums rise sharply
Guiding clients through the Two-Pot Retirement System
There is diversification, and true diversification – choose wisely
Decoding the shift in investment patterns
Subscribe now