Old Mutual EasiPlus Funeral Plan 2023

EasiPlus Funeral Plan

Planning for end-of-life expenses is a critical part of financial planning. The EasiPlus Funeral Plan is an insurance product offered by Old Mutual, a leading financial services company in South Africa. This plan provides a lump-sum payout to cover funeral expenses when the policyholder passes away. The amount of coverage ranges from R5,000 to R40,000, and the payout is made within 48 hours of receiving the necessary documentation.

The premiums for the EasiPlus Funeral Plan are affordable and increase as the policyholder ages. The plan also provides additional benefits, such as trauma and assault counseling, legal and financial advice, and transportation benefits. The policy application process is easy and can be done online without the need for a medical examination.

However, there is a six-month waiting period for natural causes of death. The EasiPlus Funeral Plan is designed to provide policyholders with peace of mind that their end-of-life expenses will be covered and their loved ones will not be burdened with the costs of a funeral.

Who is Old Mutual EasiPlus Funeral Plan for

The EasiPlus Funeral Plan offered by Old Mutual is available to individuals who are between the ages of 18 and 80. The plan can cover the policyholder, as well as their spouse, children, and extended family members. The policyholder can choose the amount of cover they need, based on their budget and requirements, and can select the beneficiaries who will receive the lump-sum payout in the event of their death. However, it is important to note that the policy has a waiting period of six months for natural causes of death, during which time the policyholder is not covered.

Accidental death is covered immediately, and the policy remains in force as long as the premiums are paid. The EasiPlus Funeral Plan is designed to provide affordable and flexible funeral cover to individuals and families who want to ensure that their end-of-life expenses are taken care of.

How does Old Mutual EasiPlus Funeral Plan

  1. Policy Application: The prospective policyholder can apply for the Old Mutual EasiPlus Funeral Plan online or by calling Old Mutual. The application process is easy and requires the prospective policyholder to provide their personal details, bank account information, and beneficiary details.
  2. Premium Payments: The policyholder pays monthly premiums, and the amount of the premium is based on the age of the policyholder. Premiums increase as the policyholder ages. The premiums can be paid via debit order or stop order from the policyholder’s bank account.
  3. Waiting Period: The policy has a waiting period of six months for natural causes of death. This means that the policyholder is not covered for death due to natural causes during the first six months of the policy. The waiting period does not apply to accidental death.
  4. Lump-Sum Payout: In the event of the policyholder’s death, Old Mutual pays a lump-sum payout to the beneficiaries named in the policy. The amount of the payout is determined by the level of cover selected by the policyholder. The payout is made within 48 hours of receiving the necessary documentation.
  5. Additional Benefits: The policyholder has access to additional benefits, such as trauma and assault counseling, legal and financial advice, and a transportation benefit.

Advantages

  1. Affordable Premiums: The Old Mutual EasiPlus Funeral Plan has affordable premiums that make it accessible to many people. The premiums are calculated based on the age of the policyholder, and they increase as the policyholder ages. This means that younger policyholders can enjoy lower premiums.
  2. Flexible Coverage: The policyholder can choose the amount of cover they need, based on their budget and requirements. The cover ranges from R5,000 to R40,000, and the payout is made within 48 hours of receiving the necessary documentation.
  3. Easy Application Process: The application process for the Old Mutual EasiPlus Funeral Plan is straightforward and can be done online. There are no medical examinations required, and the policyholder only needs to provide their personal details, bank account information, and beneficiary details.
  4. Additional Benefits: The policyholder has access to additional benefits, such as trauma and assault counseling, legal and financial advice, and a transportation benefit.

Disadvantages

  1. Limited Payout: The Old Mutual EasiPlus Funeral Plan only pays out a lump sum to cover funeral costs. It does not provide for any other expenses, such as outstanding debts, estate taxes, or ongoing expenses for the deceased’s dependents.
  2. Waiting Period: The policy has a six-month waiting period, during which time the policyholder is not covered for death due to natural causes. This waiting period does not apply to accidental death.
  3. Age Limits: The Old Mutual EasiPlus Funeral Plan is only available to individuals between the ages of 18 and 80. This means that older individuals may not be able to apply for coverage.

People also ask:

  1. What is the Old Mutual EasiPlus Funeral Plan?
    The Old Mutual EasiPlus Funeral Plan is an insurance product that provides a lump-sum payout to cover funeral expenses when the policyholder passes away. The plan is designed to provide affordable and flexible funeral cover to individuals and families.
  2. Who is eligible for the EasiPlus Funeral Plan?
    The EasiPlus Funeral Plan is available to individuals who are between the ages of 18 and 80.
  3. How much does the EasiPlus Funeral Plan cost?
    The cost of the EasiPlus Funeral Plan depends on the amount of cover selected by the policyholder and their age. Premiums increase as the policyholder ages.
  4. How much cover can I get with the EasiPlus Funeral Plan?
    The EasiPlus Funeral Plan provides cover ranging from R5,000 to R40,000, and the policyholder can choose the amount of cover they need based on their budget and requirements.
  5. What does the EasiPlus Funeral Plan cover?
    The EasiPlus Funeral Plan covers funeral expenses, including the cost of the coffin, transport, and other funeral-related expenses.
  6. What is the waiting period for the EasiPlus Funeral Plan?
    The policy has a waiting period of six months for natural causes of death, during which time the policyholder is not covered. Accidental death is covered immediately.
  7. How do I apply for the EasiPlus Funeral Plan?
    The policyholder can apply for the EasiPlus Funeral Plan online or by calling Old Mutual.
  8. How long does it take for the beneficiaries to receive the payout?
    The payout is made within 48 hours of receiving the necessary documentation.
  9. What are the additional benefits of the EasiPlus Funeral Plan?
    The policyholder has access to additional benefits, such as trauma and assault counseling, legal and financial advice, and a transportation benefit.
  10. How do I cancel the EasiPlus Funeral Plan?
    The policyholder can cancel the policy by contacting Old Mutual and providing written notice.

Conclusion

The Old Mutual EasiPlus Funeral Plan is an affordable and flexible insurance product that can provide peace of mind to policyholders and their families. However, it is important to consider the advantages and disadvantages of the plan before making a decision. The plan is best suited for individuals who are looking for basic funeral cover and additional benefits. For those who require more comprehensive coverage, other insurance products may be more appropriate.

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