Funeral Benefit Insurance
Our Priority • Your Peace of Mind
Safeguard your family from worrying about the cost of a dignified funeral by taking out a Monarch Insurance Funeral Benefit Policy.
This is a short guide for your quick reference. The detailed terms and conditions of your contract with Monarch Insurance Company Limited are set out in your policy document and schedule of microinsurance.
Insurance is a financial service and we are required by the FAIS Act to make the following disclosures:
- Lewis Stores is a registered Financial Services Provider and is licensed as a Controlling Company in terms of the Insurance Act,
- Lewis owns Monarch and receives commission and fees from Monarch,
- The insurance products are provided by Monarch,
- Lewis’s insurance agents are registered with the Financial Sector Conduct Authority ("FSCA"),
- Lewis’s insurance agents are required to tell you about the insurance products using a Script,
- Lewis’s insurance agents are authorised to provide information on insurance, and
- Lewis’s agents cannot give you any advice
What are the benefits?
In the event of death, a lump sum benefit is paid to your chosen beneficiary. Cover options range from R5,000 to R100,000, depending on the amount selected. You may also insure your spouse, your and your spouse’s children, parents, and extended family. Benefits will be paid upon the death of an insured person, based on the selected cover amount. (As per Benefit Options Table)
Who can I cover?
You may cover your spouse, your and your spouse’s children, parents and extended family.
Extended family include individuals related to you by blood, marriage, or long-term cohabitation. Examples include:
- Siblings, aunts, uncles, nieces, nephews, grandparents, cousins, and in-laws
- Additional spouses, children (more than 8), and parents (more than 4)
- Any person who has lived with you and shared living expenses for at least 6 consecutive months
If it is found that a person not qualifying as extended family is added, the policy will be cancelled immediately with no refund of premiums. If a claim was paid, it may be recovered.
Are there waiting periods?
There is no waiting period for accidental death.
There is a waiting period of six months for death from natural causes unless:
- You had an active funeral policy with another insurer in the last calendar month
- The people you cover under this policy were covered under that previous policy
- The previous policy lapsed or was cancelled, and
- Waiting periods had already expired under the previous policy
Will you grant me cover?
We will consider your application for insurance if:
- The eligibility criteria reflected in the
table below are met, including:
- Qualifying age at the time the policy starts
- Minimum and maximum benefit amounts
- The maximum number of lives that can be insured under the policy
- You and the individuals you insure have the legal right to permanently reside in South Africa,
- You agree to the terms and pay the monthly Premium
* Note: Legal maximums apply to child cover across all policies, including with other insurers. Payouts will be limited to these amounts.
What is not covered?
- Natural causes within six months of the policy start date
- Accidents occurring before the policy start date
- Self-inflicted injury, suicide or attempted suicide within twelve months of the start of this funeral policy
- War, riot, radioactive contamination, nuclear accidents,and similar risks
- Participation in a criminal act
- Participation in hazardous activities (e.g. mountaineering, speed racing, bungee-jumping, hang gliding etc.)
- Any abuse of alcohol, drugs, or narcotics
How do I pay for my cover?
The policy premium payable is collected by monthly debit order in advance on or before the first of each month you are covered
For what period am I covered?
You are covered from the cover start date, provided monthly premiums are paid.
Policies are renewed annually at which time premiums
and benefits may be changed if product risks change, for
example an increase in death claims received, in which
event you will be provided with one month’s prior written
notice.
If we do not receive your premium by the 1st of the month,
we will notify you of the non-payment and your cover will
remain in place until the 15th of the month. Thereafter,
you have no cover until you pay your monthly premium.
You have a 3-month grace period to restart your cover
by paying the monthly premium. If no premium is received
during this grace period, the policy will be cancelled.
How do I claim?
You must inform our claims manager of any potential claim within 90 days of the insured event. The claims manager will send you a claim form to complete and sign. This form must be true, accurate, complete, and submitted with the requested supporting documents and information. You can contact the claims manager at claims@monarchinsurance.co.za or on our toll-free number, 0800 243 675.
Is there a cooling-off period?
You have 31 days from the Cover Start Date to cancel your policy and request a refund of any premiums paid if you have not submitted a claim.
When will my cover be cancelled?
- If you missed your premium payment and you do not pay us a monthly premium during the 3-month Grace Period
- If you cancel your debit order and you do not pay us a monthly premium during the 3-month Grace Period
- If you advise us that the policy must be cancelled, providing us with 31 days prior written notice
- If we advise you that the policy will be cancelled, providing you with 31 days prior written notice
- If a benefit is paid in respect your death
What must I do for assistance?
If you have any questions about your Monarch Insurance cover, your claim or complaint status, or you need assistance, please contact the insurance call centre toll free on 0800 243 675.
How do I complain?
Contact the insurance complaints department on our toll-free number 0800 243 675 or email complaints@monarchinsurance.co.za to submit your complaint.
