AVBOB Funeral Cover

AVBOB is Africa's largest Mutual Society that was established in 1918 and offers the entire spectrum of funeral services through an extensive national infrastructure of over 188 funeral agencies, 132 insurance offices, and a manufacturing plant.

They offer affordable insurance to ensure that people from all walks of life have access to a dignified send-off when their time comes.

How AVBOB is making a difference

They’re committed to the social and cultural upliftment of the communities they serve, and their initiatives include the donation of fully-equipped libraries to underprivileged schools, sponsoring cultural programs and sporting events, providing training programs for staff to improve standards and quality of life, and rendering emergency relief in cases of disaster.

The AVBOB Foundation is also involved in building mobile libraries and donating them to rural schools in South Africa. AVBOB is a Mutual Society, which means it does not have external shareholders, and its members benefit directly from its successes, including annual bonuses and enhanced funeral benefits that come at no cost.

They have a partnership with the Nelson Mandela Foundation, where they contribute to various community projects. In addition, they have a partnership with the Nelson Mandela Foundation, where they contribute to various community projects.

Why choose AVBOB for your funeral cover needs?

• Comprehensive services: AVBOB offers a complete range of funeral services, from insurance to funeral planning and burial, all under one roof, making it a convenient option.
• Africa's largest mutual society: AVBOB is the largest mutual society in Africa, providing the company with extensive resources and expertise in funeral planning and insurance.
• Affordable insurance: The Mutual Society provides affordable funeral insurance, making it accessible to people from all walks of life.
• Long-standing history: With over 100 years of experience in the industry, it has a long-standing history of providing excellent service to its customers.
• Social responsibility: They’re committed to social and cultural upliftment, providing services and programs that benefit communities.
• No external shareholders: As a mutual society, there are no external shareholders, meaning profits are given back to members in the form of increased policy value and enhanced funeral benefits.
• Special bonuses: AVBOB has allocated over R8 billion to special bonuses and funeral benefits at zero cost over the past nine years.

The AVBOB family saver plan: a brief overview

In the services section we’re going to take a detailed look at AVBOB’s family funeral plan, so here we’re briefly going to mention another important product: their family saver plan.

The AVBOB Family Saver plan is an excellent option for anyone looking to save for their future. With the option to save as little as R200 per month, you'll receive yearly bonuses, including a guaranteed income bonus and a non-guaranteed capital bonus.

You can choose to save monthly, quarterly, half-yearly, or yearly, and your premiums can increase yearly by 6%, 10%, 15%, or 20%.

Additionally, you'll receive a 15% discount on specified funeral services, up to a maximum of R4,000, and transportation of the deceased within the borders of South Africa if AVBOB is appointed to conduct the funeral.

If you need to withdraw money, you can do so once every year after the first five years of the policy. Overall, this plan offers flexibility, peace of mind, and attractive bonuses.

AVBOBS’s available funeral plans

• Family Funeral Plan: This plan covers the main member, their spouse or partner, and up to five children. The benefits include cover for funeral expenses, transport of the deceased, a casket, and a tombstone, among others.
• Extended Family Funeral Plan: This plan is similar to the Family Funeral Plan, but it covers up to 13 family members, including parents, siblings, and grandparents.

A guide to AVBOB’s family funeral plan

AVBOB's Family Funeral Plan is a whole-life policy that allows you to insure your entire family, including parents, parents-in-law, and extended family members.

The policyholder can get cash back for every five years that they did not make a claim, with AVBOB giving back the fifth year's premiums in cash provided there was no claim over the period.

Additionally, the policy comes with several member benefits, including a six-month premium holiday in the event of the policyholder's retrenchment, a reward account available at death or age 65, and funeral benefits worth up to R21,500 if AVBOB Funeral Service conducts the funeral.

The free benefits of the plan

The free benefits include funeral arrangement services, a coffin and a hearse worth about R13,000, R3,000 cash upfront, R3,000 discount on a tombstone or cremation, and transportation of the deceased anywhere in South Africa.

Moreover, the policy has several benefits specific to family members, such as the Breadwinner Benefit, which makes the policy paid-up for the remaining insured persons if the main insured person dies, depending on the policy's duration.

The policy will be paid-up for the spouse, parents, parents-in-law, and children if policyholder passes on within the first ten years of the policy. If the main insured person dies after ten years, the policy will be paid-up for extended family members as well.

The spouse benefit explained

The spouse benefit allows the life partner of the main insured person in marriage or customary union recognised by the laws of South Africa to be added under the spouse benefit.

Cover for your parents and parents-in-law

The parent benefit allows the parents as well as the parents-in-law of the main insured person to be added under the policy, with a maximum of four parents.

What about extended family members?

The extended family benefit allows a maximum of six extended family members of the main insured person to be added. Unmarried own children, step-children, or legally adopted children of the main insured person can be added to the policy under the children's benefit.

Double benefit for death caused by an accident

Finally, the policy comes with an accident benefit that doubles the insured amount to a maximum of R20,000 if the main insured person passes on from an accident. The policy's insured amount ranges from a minimum of R10,000 to a maximum of R50,000, with a waiting period of six months from the policy issue date.

AVBOB’s waiting period in a nutshell

The policy has a waiting period of six months from the policy issue date, which means that if any of the insured persons under this policy die as a result of natural causes, the benefit will not be paid. However, if the insured person dies from an accident during the waiting period, the claim will be paid.