Funerals can be expensive. From the casket to catering, the cost can quickly become overwhelming, leaving families struggling to manage. Old Mutual Funeral Cover is designed to ease this burden. With a funeral policy, you pay a monthly premium, and when an insured person passes away, a lump sum is paid out. This payout helps with funeral costs, allowing your family to focus on honoring their loved one.

Benefits of Old Mutual Funeral Cover

1. Comprehensive Coverage Options
   Old Mutual offers flexibility, allowing you to choose the right plan for your needs:
   • Me & My Direct Family: This covers you, your spouse/partner, and your biological, step, or legally adopted children.
   • My Parents & In-laws: You can cover up to four parents or in-laws.
   • My Extended Family: Coverage for up to 10 members of your extended family, including siblings, grandparents, aunts, and uncles.
2. High Cover Amounts
   Old Mutual offers up to R100,000 in funeral cover. This ensures that regardless of the type of send-off you choose, financial assistance is available.
3. No Medical Tests Required
   Getting approved for funeral cover is straightforward and hassle-free, with no medical tests required for approval.
4. Premium Holiday for Up to 6 Months
   One unique feature of Old Mutual Funeral Cover is the premium holiday option. You can miss up to six monthly payments without losing your cover, ensuring that temporary financial difficulties don’t disrupt your policy.
5. Immediate Cover for Accidental Death
   From the moment your policy is active, accidental death is covered, providing peace of mind in the event of sudden tragedies.
6. Money Back Guarantee During the Waiting Period
   If a non-accidental death occurs within the six-month waiting period, Old Mutual will refund the premiums paid. This applies to deaths from causes other than accidents.

Premiums and Increases

Your premiums will increase annually on 1 July. However, your cover amount remains the same unless you choose to increase your premiums. If you opt not to increase them, your cover will decrease proportionally. Be sure to notify Old Mutual before the annual increase if you wish to avoid the automatic premium adjustment.

Flexible Policy Features

1. Premium Holiday
   Old Mutual allows you to miss premiums without the risk of policy cancellation. You can take up to six premium holidays—either automatic or requested. An automatic premium holiday kicks in if you miss a premium and haven’t yet used your premium holidays. After paying six monthly premiums, you also qualify for a requested premium holiday, which requires you to notify Old Mutual in advance.
2. Optional Add-ons
   Old Mutual provides several optional benefits for an additional cost:
   • Double Accidental Cover: This pays double the cover amount if an insured person dies in an accident.
   • Paid-up Benefit: Premium payments stop, but cover continues when the policyholder dies, turns 64, or becomes disabled.
   • Grocery & Education Benefits: Monthly payouts are provided to support families with groceries or education for 12 months after the policyholder or spouse passes away.

Entry Ages and Policy Eligibility

• The policyholder must be between the ages of 18 and 65.
• Children can be added as dependents if they are under 21 (or 26 if they are full-time students).
• Parents, in-laws, and extended family members can be covered up to the age of 84.

What Happens If You Change Your Mind?

If you decide to cancel the policy within 31 days of receiving your contract and haven’t made a claim, Old Mutual will refund the premiums you’ve paid. After the 31-day period, cancellations won’t result in a refund of the premiums.

When Does Cover Stop?

Your Old Mutual Funeral Cover ends when:

• You stop paying your premiums, and you no longer qualify for a premium holiday.
• You cancel the policy.
• The policyholder passes away.
• All insured persons have passed away or are no longer eligible for cover.

How to Buy Old Mutual Funeral Cover

Old Mutual makes it easy to purchase funeral cover online. Whether you need cover for yourself, your parents, or your extended family, you can choose from different plans and buy directly through their website. Alternatively, if you have specific needs, such as adding multiple children, you can request a callback from a consultant.

Conclusion

Old Mutual Funeral Cover provides South Africans with reliable, flexible, and comprehensive funeral insurance options. With benefits like premium holidays, no medical tests, and cover for extended family members, it’s a valuable solution for anyone looking to ease the financial burden of funeral arrangements.