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.
As insurance is a financial service, we are required by the FAIS Act to make the following disclosures:
- Lewis Stores, a registered financial services provider, wholly owns Monarch Insurance and receives commission and fees from Monarch Insurance.
- Lewis’s insurance agents are registered with the Financial Sector Conduct Authority (FSCA), and are required to use a script to inform you of Monarch Insurance’s insurance products, whilst they are authorised to share information on the insurance products, they cannot offer advice.
What are the benefits?
- In the event of your death, Monarch Insurance will pay your chosen beneficiary a lump sum between R5,000 and R30,000, depending on your selected benefit option. *
- Option to cover your spouse and/or up to four of your children, 18 years or younger. You will receive a lump sum payment in the event of their death (according to the selected benefit option).
* As per Benefit Options Table
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.
If you had Funeral Benefit cover with another insurer within the last calendar month before accepting our Funeral Benefit policy, there will be no waiting period.
Will you grant me cover?
We will consider your application if:
- You are 18 years of age or older, and
- You have the legal right to permanently reside in South Africa
What is not covered?
You, your spouse, and/or your child/ren are not covered if the cause of death resulted from:
- Natural causes within six months of the policy start date (unless insured for funeral cover in the last calendar month)
- Self-inflicted injury, including suicide and attempted suicide resulting in death within 12 months of the policy start date, and abuse of alcohol, drugs, and narcotics
- Any accident prior to the starting date of your policy
- Dangerous activities, including mountaineering, speed racing, bungee jumping, hang gliding, etc.
- War, riot, radioactive contamination, nuclear accidents, and any similar risks
- Participation in a criminal act
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 reflected in the Schedule of Microinsurance once the first premium has been received and each month thereafter for which a premium has been paid.
Your policy is renewed annually at which time premiums and benefits may be adjusted if product risks change. You will be given one month's written notice of any adjustments.
If you fail to pay the monthly premium at the start of any month, Monarch will notify you and you will be covered until the 15th of that month; thereafter, you will not be covered until your premium is paid.
Monarch Insurance offers a 3 months grace period to restart your policy from the date of non-payment of your premium. Your policy will be cancelled if no payment is received within those 3 months.
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 miss a premium payment or cancel your debit order and do not pay another monthly premium within the 3 months grace period.
- If you cancel your policy, giving Monarch Insurance 31 days' written notice.
- If we cancel the policy, giving you 31 days' written notice.
- If a benefit has been paid in the event of 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.
