If you talk to relatives of a recently deceased, they will probably warn you of the huge financial burden for funeral services.
How can you protect your loved ones from the financial burden of hosting your funeral?
The most practical answer is a simple one: Funeral Insurance Coverage….. and this is what Sacos is offering!
Introducing the first Funeral Insurance Plan in Seychelles: Giving you a dignified burial when the time comes.
A funeral insurance coverage allows you to have a saving that will cover the cost of funeral expenses and burial. It is true that most of us aren’t keen to think about the end of life–especially our own. But discussing the need for and understanding end-of-life planning is important for all of us. So, what is the Sacos Funeral Insurance Plan and why do you need it?
The Sacos Funeral Insurance Plan is a whole-life, monthly-low-cost protection insurance plan that gives you cover for death as a result of an accident or natural causes. A first for both citizens and expatriates residing in Seychelles, easing the financial worries associated with funeral expenses.
There are 4 options of coverage:
- Option 1 = SCR 15,000
- Option 2= SCR 30,000
- Option 3= SCR 45,000
- Option 4 = SCR 75,000
Just think about it, losing you would already be a tragic event for your loved ones. Do not compound their stress by having it become a financial burden too. Failing to account for the cost of a funeral can leave your loved ones with a financial struggle at a time they least need it.
Why should you take it?
The Funeral Insurance Plan covers for you as an individual and can cover for your family members (your spouse, parents, and children) as well.
Payments are flexible and affordable! You can choose to pay your premiums on a monthly, quarterly, semi-annual or annual basis.
No medical examination is required.
Straightforward Claim process! The sum assured is paid within 48hrs after the passing of a member.
We want to make things as easy and as stress free as possible for you, especially in the time of mourning.
Finally, let’s say that you’ll have peace of mind knowing that your wishes will be fulfilled as you intended, especially when it comes to avoiding family arguments about who should have the final say.
Who can take this cover?
Any individual aged between 18 and 65 can take the Funeral Insurance plan. Any person above the age of 65 can only benefit from the Funeral Plan as a member of a family group. Similarly, children can only be covered up to the age of 21 as a dependent child or to a maximum of 25 years of age should they be studying on a full-time basis at a tertiary institution.
All members of the policy will be covered for the same amount based on the chosen plan. The premiums are based on the age of each member of the plan.
Any member reaching the age of 75 will stop paying, but the cover will be available until death; providing that person has contributed a minimum of 10 years premium.
How do I purchase the Sacos Funeral Plan?
This can be done in just 2 easy steps!
- Complete an application form (available at any of our branches, from our agents/brokers or from our website (www.sacos.sc), stating the cover you are applying for, accompanied by your National identification card and a list of the members with proof of relationship (e.g. marriage certificate and/or birth certificate) if you are including family members on your plan
You will receive your quote after.
- If agreeable, you can start paying immediately.
It is really as simple as that!
When does my plan come into effect?
Terms & conditions apply, but after you have started paying; it is effective immediately following death as a result of an accident, 6 months after death from natural causes and 12 months after date of entry for death by suicide.
How do I make a claim?
In the event of the passing of a member of the funeral plan, you will need to notify us within 24 hours and provide the following documents: cause of death documentation, death certificate and the deceased National ID. Sacos will release the payment within 48 hours of receiving all documents to the nominated beneficiary.
Start planning and get your Sacos Funeral Plan to save your family from the financial burden of your burial costs.
To get a quote or for more information, visit any Sacos offices or call us on 429 5000. You can also visit our website ( https://www.sacos.sc/here-for-you/funeral-insurance-plan/)or send an email to info@sacos.sc. To get in touch with our agents visit our website (https://www.sacos.sc/about-us/local-agents/).
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