Group Funeral Cover – Sena Financial Services (2024)

This funeral product is designed to offer lump-sum death benefits to individual members belonging to a group, also known as an individual funeral product, underwritten on a group basis. We offer different funeral cover options to cater for your individual family circ*mstances.

• The process to apply for a policy first needs to start with the group approaching the insurer to setup an individual product grouping where the members of the group can purchase individual products from the insurer at group premium rates.
• The group needs to meet the minimum underwriting requirements, like minimum group size and participation rate to qualify for this product.
• There needs to be a minimum of 100 main members that always forms part of the group.
• Thereafter, the group will receive a group specific premium rate applicable to them.
• Each individual can then take out a policy linked to the group.

The following lives can be covered under this product, provided there is insurable interest between the Policy Owner (juristic entity) and the insured lives covered:

• Main Member.
• Spouse.
• Children.
• Parents and Extended Family.

The Policy Owner can choose from the following options in terms of the insured lives they would like to cover (where premiums will be quoted at a Family Option level):

• Family Option 1: Main Member only.
• Family Option 2: Main Member, Spouse and up to 6 (six) Children.
• Family Option 3: Main Member, Spouse ,6 Children ,4 Parents and 4 Extended Family Members.

The Main Member can also choose to insure Parents and Extended Family members in addition to the options above. When adding Parents and Extended Family members, a premium rate per insured life is payable.

• Main Member: The individual who is listed as the Main Member on the policy schedule. The Main Member can also be the Policy Owner.
• Spouse: Legally recognized husband/wife, permanent life partner or partner of the Main Member by law, tradition, religion, or civil union.
• Parent: Person who is the biological parent, parent-in-law, adoptive parent or stepparent of the Main Member.
• Extended Family: Grandparents, siblings, siblings-in-law, niblings, cousins, uncles, grand uncles, aunts, or grand aunts of the Main Member.

The total maximum number of insured lives allowed on a policy will be 22 (twenty-two), including the Main Member, broken down as follows:

• 1 Main Member.
• 1 Spouse.
• 6 Children.
• 4 Parents.
• 10 Extended Family.

Note: Stillbirth claims are treated separately and do not count towards any of these limits.

Cover Amounts are always further limited by regulatory requirements, which are currently:

• Children Ages 0 – 5 years: R20000
• Children Ages 6- 14 years: R50000

All insured lives have a maximum limit of R100 000 as of 1 July 2018, subject to an annual CPI inflation rate increase as published by Statistics South Africa.

All Insured Lives covered are:

• Residents of South Africa with valid permits.
• The Main Member insured also needs to be a member of the group to qualify for this product.
• ID Numbers are required for the Main Member and Spouse.

The waiting period applicable for all Insured Lives:

• No waiting period for accidental death.
• Three (3) months / (6) months for death due to natural causes.
• Twelve (12) months waiting period for suicide.

The waiting period is applicable per life and starts from the date that each insured life’s cover starts, which can be at different times.

• Increase Cover: The Policy Owner may Increase Cover where a new waiting period will apply.
• Decrease Cover: The Policy Owner may decrease cover where no new waiting periods will apply.
• Nominated Beneficiary: The Policy Owner may change the nominated Beneficiary once a year.
• Change of Personal Details: The Policy Owner may request changes to their personal details.

• No Benefit shall be payable in respect of claims arising wholly, or partly, directly, or indirectly as a consequence of:

  • Active participation in war, invasion, acts of foreign enemies, hostilities, warlike operations (whether war is declared or not), civil war, rebellion, revolution, insurrection, civil commotion assuming the proportions of or amounting to an uprising, military action, or usurped power.
  • In the event that a claim arises as a direct or indirect consequence of the use of nuclear, biological or chemical weapons, or any radioactive contamination, or attacks on or sabotage of facilities (including, but not limited to, nuclear power plants, reprocessing plants, final repository sites and research reactors) and storage depots, which lead to the release of radioactivity or nuclear, biological or chemical warfare agents, irrespective of whether any of the aforesaid has been performed with the specific use of information technology.