Telkom has launched its funeral insurance, which includes single member, family and extended family benefit options.
It is part of Telkom’s strategy to continue its drive to diversify its income streams beyond the fixed-line business. Also read: Telkom Enters Financial Services Fray in Ongoing Drive to Diversify
New and existing Telkom customers will have access to different cover options, which will determine their premiums.
The country’s largest fixed-line provider said its funeral insurance has 5 different cover levels starting from R10 000 to R70 000.
The minimum entry age for a main member and spouse is 18, and the maximum is 64, and children may enter cover from birth until 21. Children above the age of 21 can be added to the cover as Extended Family. You may add Extended Family to your cover from birth until the age of 74.
The cover levels summarised in each of the above tables are the maximum benefit amounts that will be paid for each of the causes of death i.e. death due to natural causes and death due to accidental causes.
Maximum number of lives per Main Member
- Spouse : 1
- Children : 8
- Extended Family Members : 14
Premiums are paid monthly and are guaranteed for the first 12 months and reviewable thereafter.
In the case of accidental death, there is no waiting period. A six-month waiting period applies in the case of natural death.