No matter how uncomfortable funeral talks are, knowing that we made future plans for this difficult event gives us peace of mind today. A funeral plan from Ubank is geared to help you with the cost of a funeral when you or a member of your family passes away. It is simple. All you need is to pay monthly premiums for yourself and members of your family you wish to cover.
The Ubank funeral plan is underwritten by Hollard.
What are the features of the product?
You can select to add the following benefits once you have covered yourself and or family:
Family benefit: The funeral plan covers you, your partner and up to 5 children. It also covers a maximum of 6 extended family members at an additional cost
Premium waiver. If you die before the age of 65, your partner and children will not have to pay the premiums for the policy until one month after what would have been your 65th birthday. A family member will need to pay the monthly premiums after this date to make sure your family continues to be covered. This option comes at an extra cost which will be added to your monthly premium.
Accident benefit. This means you or your partner are covered for death if you die from an accident from the day you sign up. There is no waiting period during which you will not be covered. This option comes at an extra cost which will be added to your monthly premium.
Memorial benefit. We will pay out an amount of money to help with the costs for unveiling the memorial, one year after your death or partner’s death. This option comes at an extra cost which will be added to your monthly premium.
Monthly provider benefit. The monthly provider benefit will also pay a fixed lump sum of money in monthly amounts for 12 months after your death or partner’s death. This option comes at an extra cost which will be added to your monthly premium.
What do you need to apply for a Funeral Plan?
You must provide proof of identity with either a green barcoded South African identity book or a smart card or provide proof that you are a permanent resident in South Africa.
You need to be under 65 years of age.
Proof of your physical address which is not older than three months.
How to claim your benefits
Contact Hollard on 0860 448 222 if you want to make a claim or visit your nearest Ubank branch for assistance.
The customer must inform Hollard of the claim in writing within 180 days from the date of the insured event. Hollard will tell the customer about the evidence and other documents that are required to process the claim.
The customer must send the required evidence and other documents within the time specified by Hollard. All the information that the customer submits must be in the format prescribed by Hollard.
If the steps mentioned above are not followed, or Hollard does not receive the information requested within the agreed time, the claim will be delayed.
The waiting period is the period during which claims will not be paid. This period begins from the benefit start date of each person covered. Different waiting periods apply for different reasons:
No waiting period applies to a new born child as long as the child was added to the policy within 90 days of the child’s birth.
The accident benefit has no waiting period if death is caused by an unintentional or unexpected accident.
Death by natural causes has a 6 months waiting period, meaning no claims will be paid if you or your family member die within 6 months of taking up cover.
Death by suicide has a 12 month waiting period, meaning no claims will be paid if you or your family member die as a result of suicide, attempted suicide or self inflicted injury, within 12 months of taking up cover.
Exclusions of the Product
A claim will not be paid if:
The insured event occurs because of criminal activities.
The insured event is directly / indirectly caused by activities related to labour disputes, riots, strikes (other than a protected strike) or lock-outs.
The insured person was not eligible or did not meet the definition of main insured person on the benefit start date.
The insured event, or accident leading to the insured event, happened before the benefit start date.
For more information on this product visit your nearest branch with all the relevant documents to apply or contact the call centre on 086000 8322 for more information on existing policies.