Limited Life Policy

The Limited Life Policy provides for a funeral benefit that pays out an immediate cash sum in the event of a death of a member / employee, and / or his / her immediate dependants to cover any funeral or related costs.

Cover provided continues until cessation age (normally retirement age 65), as reflected in the policy schedule. Once the Principal Member has reached cessation age, according to the policy, all cover ceases, however the Principal Member may elect Continuation Option for continued cover on attaining cessation age or withdrawing from the fund, under an individual policy.

This policy may be taken up under the following basis:

Compulsory: Employers concerned with the well being of their employees will set up a plan to provide funeral benefits for all their staff. It becomes a condition of employment and the employer carries the cost of the premiums, not the employees.

Voluntary: Many individual employees, whose companies do not have a fund in place, but who are concerned about their financial responsibilities and that of their dependants, may wish to join such a fund. Provided the employer agrees, deductions are made from wages and salaries and paid over to Safrican for the funeral cover.

Should you require Safrican to forward a detailed Limited Life Policy Fact Sheet, please call or e-mail Client Service, with your contact details, on:
Tel: 0860 248 248 / (011) 332-0500
Fax: 0860 88 44 22 / (011) 332-0571, or
e-mail: clientservice@safrican.co.za

Preparing for tomorrow, today