Personal Banking - Bancassurance - Tshidiso Funeral Plan - Standard Chartered Bank Botswana

Tshidiso Funeral Plan

Coverage

This is a stand-alone policy

• There is no investment portion.
• Provides life cover for the immediate and extended family.
• It covers the following persons:
  1. Main Life Assured
  2. Spouse
  3. Max of 6 children
  4. Max of 4 parents
  5. Max of 15 extended family members

Features

• Minimum Total premium of P80.00
• Flexible levels of cover
• Equal number of units per group
• Minimum Cover of P10 000.00 for main life
• Covers up to 27 family members
• Transferable to a covered adult member (not Child)
• Automatic premium update of 5% OR optional 10% update.
• Benefits update at 60% of premium update.
• In-built premium waiver on death or disability of main life
• 10% cash back benefit every 5 years
• No medical underwriting

Limitations

• 6 months waiting period on natural deaths.
• No waiting period on accidental death.
• 24 months waiting period on waiver of premium on natural death and disability benefit
• Policy ceases at age 65 if not transferred
• No loans or encashment.
• The waiver of premium on death and disability benefit applies to the main life only
• Waived benefits are payable to the date at which the main life assured would have reached the age of 65.

Waiting Periods

From the date of joining and this applies to the main life assured and any COP that may be added to the policy.

• Increases in cover.
• Reinstatements.

Cash Back Benefits

• Payable every 5 years if policy is in force at the time and W.O.P is not in effect.
• Equals 10% of the premiums paid over the 5 year period (excluding policy fee).

Waiting Periods

• After age 50 before age 65
• Can choose any adult member of the policy
• No changes to the benefits or premium.
  1. Failure to transfer, the policy ceases at age 65 of the main life assured.