Thandizo Policy
Thandizo Policy is a Family Funeral Plan. It is an all-embracing funeral plan for people who are articulate planners in life and those who care for their families. The product is meant for those that do not want to leave the burden of their family funeral arrangements to relatives, friends or neighbours. This is a unique product, which has embedded benefits such as Survival (Premium Refund), Tombstone and Grocery benefits. The product also has an inflation proofing option.
Who is Covered?
- Principal Member and Spouse – up to age 75
- Biological Children – up to age 25
- Dependent Children & Relations (Brothers, Sisters, Nephews, Nieces, etc.) – up to age 25
- Parents and Parents-in-law – up to age 70 at entry, exit at age 75
Benefits
In the event of death of the insured life, the sum assured shall be paid to take care of the funeral expenses. In lieu of cash, the policyholder may opt for services of professional funeral parlour where Smile Life’s obligation will be limited to the sum assured of the deceased member.
Embedded Benefits
- Survival Benefit: 20% premium refund at the end of 5, 10, and 15 years
- Tombstone Benefit: 20% of funeral benefit paid 12 months after the death
- Grocery Benefit: 20% of funeral benefit paid in a lump sum in the event of the policyholder’s death
Payment of Benefits
Funeral Benefits are paid within 48 hours upon receipt of all the required claim documentation.
Cover & Premiums
- Minimum Cover: MK 150,000.00
- Maximum Cover: MK 2,500,000.00
- Premiums: Paid monthly in advance.