It was Anne Frank who said, “No one has ever become poor by giving.” – and here at the AVBOB Mutual Assurance Society, the statement rings true. Giving back just feels good, and when this gesture of generosity makes a major difference in someone’s life, it becomes all the more meaningful. When it comes to treasured family members, particularly elderly pensioners, end-of-life planning may be tense and stressful. Parents want to leave a legacy behind, not debt and financial ruin. One of the greatest ways to show your love for your parents, then, is to offer them peace of mind through outstanding funeral cover. We at AVBOB make this possible with our comprehensive plans with superb benefits that help families ease into this vital preparation period.
Life is unexpected, and there is no way of knowing when a loss will occur. Getting the right funeral cover for both yourself and your loved ones offers much comfort for all involved. The last thing your elderly parents want is to leave their beloved children with the burden of financial expenses. It may also be stressful knowing that you may pass on before your parents, leaving them with the costs of planning a funeral (which are well-known to be expensive in South Africa). By planning for the future and investing in proper cover for yourself and those most precious to you, you can enjoy the time you have left with them, stress-free.
At AVBOB, we know that it is not just about covering basic funeral costs, but a dignified send-off that reflects love, respect, and a meaningful farewell. For this reason, we have a range of plans from which to choose based on your individual needs, and the needs of your parents.
One of our most popular products is the Cashback Funeral Plan. It is a whole-life policy that offers cover to both policyholders and their loved ones. With this policy, you can insure everyone, including your children and parents to parents-in-law and extended family members too. For every five years that you are claim-free, you get cash back. The fifth year’s premiums are given back in a cash payout and used for whatever you require. With this option, members qualify for both member benefits and FREE benefits when AVBOB is the designated funeral conductor. The FREE benefits apply to insured persons who have been covered under the policy for 24 months or longer, and they include:
• R2 500 upfront cash payout.
• FREE funeral arrangements.
• A coffin and hearse to the value of R12 500.
• FREE transportation of the deceased to any location within South Africa.
The Parent Benefit within this policy applies to a maximum of four individuals, which includes parents, stepparents, foster parents, and parents-in-law. Limitations of this Benefit are that parents must be younger than 80 years old, and the insured amount for all parents under this benefit must be the same. The maximum insured cover for each parent on this plan is R30 000.
For parents and pensioners who are 64 years and older, our Group Insurance scheme is another ideal plan. It is a single-life policy with a premium that can either be payable for life or with a once-off, single premium payment. Policyholders between the ages 65 to 74 pay a monthly premium of R150, those between 75- and 79-years old pay R180, and pensioners between 80- to 84-years of age pay R220 per month. Policyholders can also increase the value of their current cover by adding extra cover, ranging between R30 to R50 per month based on age for an insured amount of R2000, or they can pay a once-off R2000 premium. Over and above the value of the policy, we include FREE funeral cover benefits for policies in effect for over 24 months, and when AVBOB conducts the funeral. These benefits are the same as the FREE benefits in the Cashback policy.
It feels great to give back, and we at AVBOB make it possible with flexible, affordable, and easy-to-understand funeral cover for pensioners and the rest of the family. For more information, or to get a quote for a pensioner policy today, click here.