This is a type of insurance policy that provides a lump sum payment to cover funeral and burial expenses upon the death of a member of a group, such as employees, members of an organization, or a group of individuals. This coverage is designed to help ease the financial burden on the family or beneficiaries of the deceased by covering the costs associated with the final rites, including funeral services, transportation, and other related expenses.
Overview
It is a unique package developed for groups that enables members to give their loved ones a decent send-off and reduce the need for fundraising for a departed member, spouse or child. The benefit is paid within 48hours.
A lump-sum payment equal to 100% of the sum assured, as stated in the policy schedule, will be paid out if the insured event occurs, provided the policy is active at the time of the event.
Three sum assured options are available: 500,000/=,400,000/= 300,000/=, 200,000/= 100,000/= and 50,000/=.
Accidental Death Benefits
If the principal member passes away as a result of an accident, a lump sum amount ,equal to twice the sum assured will be provided to the beneficiaries.
No exclusion on passive war, riots and terrorism risks or persons living with HIV
Upon death of the principal member, the dependents will enjoy cover until end of the policy period. Upon renewal the spouse can choose to continue with cover as the main member.
If you are interested in purchasing Group Last Expense, please click (Get Cover.)
If you would like further explanation or assistance about how it is essential, please click (I Need Assistance.)
