Absa Funeral Cover Review 2024

The Absa Funeral Cover offers funeral protection up to R100,000.00 for the primary member, with the option to include their spouse for an extra R2.10 added to the funeral cover cost.

The main member can include other individuals, these include:

• Coverage for Children:
  • Children can be added for a monthly premium of R10.00.
  • Coverage is up to R50,000.00 per child.
  • Children’s coverage is lifelong and does not expire.
• Extended Family Members:
  • Up to eight extended family members can be added for an extra premium.

The Absa Funeral Cover come with some benefits and these benefits are activated from taking the Funeral Cover, we discuss these below.

Benefits of The Absa Funeral Cover

• Accidental Death Benefits:
  • Double payout for accidental death of the primary member, spouse, or family members over 18.
• Annual Coverage Increase Option:
  • Policyholder can increase coverage by 3% annually to match rising prices, with premiums adjusting accordingly.
• Coverage Limits:
  • Main member and spouse covered up to R100,000.00.
  • Children covered up to R50,000.00 each, with no age limit for coverage.
  • Extended family members eligible for coverage, limited to eight members.
• No Waiting Period for Plan Replacement:
  • No waiting period if plan is taken out to replace a similar policy.
• Repatriation Benefit:
  • Free transportation of mortal remains to the nearest funeral home in South Africa.
• Ease of Purchase:
  • Available for purchase on Absa’s website without underwriting.
  • Waiting period applies for first-time plan holders, except for accidental death coverage.
• Repatriation Benefit:
  • Free transportation of mortal remains to the nearest funeral home in South Africa.
• Easy Purchase Process:
  • Available for purchase on Absa’s website without underwriting.
  • Waiting period for new plan holders, except for accidental death coverage.
• COVID-19 Coverage:
• Plan covers COVID-19-related death, subject to general terms and conditions.

Age Limit and Waiting Period

The Absa Funeral Cover offers an easy purchase process, allowing customers to buy the plan directly from Absa’s website without the need for underwriting. However, there is a waiting period for new plan holders, except for accidental death coverage, ensuring that policyholders have immediate protection in case of accidental death.

Regarding age limitations, the plan extends coverage to children under the age of 70, ensuring that families can secure funeral protection for their children throughout their lives. Extended family members can also be covered under the plan if they are under the age of 75, providing flexibility in extending coverage to relatives beyond the immediate family.

For the primary policyholder and their spouse, the age range for eligibility to take out the Absa Funeral Cover is between 18 to 70 years old. This ensures that individuals within a certain age bracket can benefit from the coverage and peace of mind that the plan offers, making it accessible to a wide range of customers while maintaining practical age-related criteria.

Advantages of The Absa Funeral Plan

• The plan can be bought online.
• Children can be covered for up to R50,000.00.
• A spouse and extended family members can be added to the plan.
• Accidental death is covered immediately after activating the plan.
• The plan increases each year to help the cover increase as inflation increases.
• COVID-19-related deaths are covered by the plan.
• There is no waiting period for natural death for those who had a similar policy with another insurer.
• There are no medical examinations and questions when taking out the plan.
• Accidental death gets a double payout for the main member, spouse, or family members over the age of 18.
• Premiums of the cover are competitive.

Disadvantages of The Absa Funeral Plan

• The plan doesn’t have a cashback benefit.
• Suicide-related death has a waiting period of 12 months.

Absa Funeral Plan Application

• Must have a valid South African ID book or Smart card.
• Must be between the ages of 18 and 70 at the time of application.
• Have your personal details, including your address and contact details.
• Have names and personal details of extended family members, children, and/or spouse that you want to include in the plan.
• Decide on the cover amount of each member that you want to add to the plan.

Conclusion

The Absa Funeral Plan has some of the best funeral plan deals in South Africa. The plan allows the primary member to include children, spouses, and extended family members on the same plan. Furthermore, the main member gets to choose the coverage amount for each person covered under the plan.

The plan’s disadvantage is that it does not provide cashback. Even so, the plan provides a double payout in the event of an accident, as well as inflation protection by increasing the cover amount by 3% per year. As a result, the cover is extremely desirable and well-balanced.