Boxer and Nedbank creates a first-of-its-kind funeral cover solution: EasyCover Funeral plan

01 February 2013 – The new EasyCover funeral plan, which is set to break new ground in South Africa’s funeral cover industry, is the result of successful collaboration between Boxer and Nedbank. It will achieve this by offering individuals and families fr

01 February 2013 – The new EasyCover funeral plan, which is set to break new ground in South Africa’s funeral cover industry, is the result of successful collaboration between Boxer and Nedbank. It will achieve this by offering individuals and families from all walks of life greater flexibility and more extensive cover than has previously been available from typical funeral insurance products.

A first in South Africa, the EasyCover funeral plan fills an important need that still exists in South Africa for affordable and flexible funeral insurance by providing cover for both the immediate and extended family members. Furthermore, EasyCover embraces the customary definitions of family.

“Boxer is proud to deliver this funeral cover offering to our shoppers who can now get affordable peace of mind, tailor made for their families’ needs” says Andrew Mills, Marketing Director Boxer Stores, “we listened to our customers, and have co-crafted a policy that understands their social dynamic in a cost effective way.”

The EasyCover funeral plan will be available from selected Boxer stores across South Africa, which have a Nedbank Kiosk. As there is no requirement for medical examinations to access the cover, and the first premium is payable at the Boxer till-point, customers can literally enjoy immediate funeral cover. The main member and immediate family are covered during the first nine months for accidental death only, but this automatically extends to include natural death on payment of the ninth month’s premium.

“The main objective of the EasyCover funeral plan is to make it easy and affordable for all South Africans to obtain funeral insurance and, equally importantly, to be able to stay covered even when they may face periods of financial difficulty,” explains Anton Davies, General Manager Product at Nedgroup Life. “In addition, there is an annual premium holiday, no premium increases and a 30-day grace period to allow policyholders to catch up on any premiums they may have missed without losing their cover”

“EasyCover is the first South African funeral policy that can accommodate inconsistent income of this market segment and create flexibility in times of financial difficulty, by accepting partial payments from as little as R10 at a time. And, for those who are able to pay at least ten months’ worth of premiums in advance, clients receive an additional premium holiday”, Davies continues.
Boxer and Nedbank have a longstanding relationship, which is now being extended further to include the EasyCover funeral plan developed through Nedbank’s wholly owned subsidiary Nedgroup Life. The benefits of this relationship speak to the very needs of this target market.

“Given the cultural importance that a dignified burial has for our customers, providing them with cost effective funeral cover is essential, and demonstrates that Boxer and Nedbank have an understanding of the market they serve.” Mills explains.