Extended Death Income

What Is It?

The Extended Death Income benefit pays out a monthly income in the event of the insured person’s untimely death.

Cover Amount

The pay-out is a minimum of R5 000 with no limit on the maximum benefit amount Subject to financial justification and the availability of reinsurance.

Who Can Apply?

Ages 19 to 65 at next birthday Individuals or multiple people on one policy

When Can You Claim?

Once the claim is validated, and once the 24-month deferred period has elapsed, the amount will be paid monthly for the duration of the payment term.

 

Important Points
  • The premium is guaranteed for 10 years.
  • The claim amount will increase by the lower of CPI for the year and 10% on the anniversary from the month of death.
  • Benefit Term – From a minimum of 5 years to a maximum of 30 years subject to a maximum age of 70 years.

 

When does the benefit end?
  • When the benefit cover term expires.
  • If the benefit is cancelled by the policyholder. If the policy lapses.

 

Deferred Period

  • 24 months

 

Exclusion

If death was a result of suicide or assisted suicide.