Affordable Funeral Cover (Paymaster Clients Only)

For just R 12 per month per R 5000 all paymaster clients can ensure that funeral expenses are no longer an issue that will cause financial hardship. This offer is only valid to all paymaster clients and is subject to a payroll deduction order being signed.

PEACE OF MIND

The death of a family member or loved one is always a sad and traumatic event and even more so if no provision has been made to cover the financial burden which has been imposed on the immediate family.

The Paymaster Funeral Plan 200 ensures peace of mind as claims are attended to within 24 hours.

WHO ENJOYS COVER?

Participation is open to all full-time employees up to but not including the age of 66 / 71 on the permanent staff of the employer.  The Paymaster Funeral Plan 200 covers your entire immediate family member’s, which includes your spouse and biological and/or legally adopted children up to the age of 20 years (or 25 if a full time student at a recognised education institution).

The scheme does not cover extended family members, e.g. parents and / or parents in law of the member, etc.

Members who are not legally married but living together as a family can enjoy family benefits provided all the relevant information is declared at inception.

SUM ASSURED

 

 BENEFIT BENEFIT

Member

 R 5 000 R10 000

Spouse

 R 5 000 R10 000

Children (14 – 21)

 R 5 000 R10 000

Children (6 – 13)

 R 2 500 R 5 000

Children (1 – 5) (Incl. stillborn babies)

 R 1 250 R 2 500

Children less than 1 year (Incl. stillborn babies)

 R 1 250 R 2 500

PREMIUMS

Premiums are payable monthly in advance on or before the 1st day of each month.

PARTICIPATION

Participation under this scheme is compulsory and is a condition of employment for all future employees up to but not including the age of 66 or 71 years.

Participation under the scheme is optional for existing full-time employees.  Existing employees who elect not to participate at inception will not have the option to join the scheme at a later stage.

GENERAL RULES

  • Cover is provided for on a month-to-month basis.
  • Paymaster reserves the right to increase the premium with one (1) calendar month’s notice.
  • Employees who participate in the scheme must be actively at work at the date of inception.
  • Participation of employees who are not actively at work at date of inception, shall take place on the first day of the month after they have returned to work.
  • Cover ceases on the earliest of:
    • Retirement,
    • the age, up to but not including 66 / 71,
    • death of the main member,
    • non-payment of premium, or
    • termination of employment.

PAYMENT OF CLAIMS

  • All valid claims are paid within 24 hours of receipt of the necessary documentation.
  • No claim will be paid if premiums are in arrears.
  • Every claim must be supported by the original, or certified copy of, the BI5 (death certificate) or a BI20.
  • When submitting a claim, the member’s last payslip (month prior to death) must be supplied.  If no payslip is provided the claim will not be paid.
  • Only claims submitted within six (6) months of the date of death will be considered for payment.
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