Old Mutual Family Cover

Definition

Family Cover pays a lump sum benefit on the death of the member, a qualifying spouse or a qualifying child, whilst the member is employed. The purpose of this benefit is to provide cover to assist with the funeral costs.

Funeral Benefit scale:
Main Member: R1000
Qualifying Spouse: R1000
Qualifying Child 14-21 years: R1000
Qualifying Child 6-13 years: R750
Qualifying Child 2-5 years: R500
Qualifying Child 0-1 years: R250
Stillborn Child: R126

The funeral cover benefit is available from R5000 to R50000, in increments of R5000.

The maximum age for a qualifying child is under the age of 21 years. It will be extended to the age of 25 years if such child is a full-time registered student at an educational institution. It will be extended indefinitely if the child is wholly, and is continuously dependent on the main member as a result of mental or physical infirmity that prevents him from maintaining himself.

There is a limit of 2 qualifying spouses and no limit for children.

Should you require more information, please contact your Associate or the office.

Thank you and regards,
The TSA Team

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