Complete the form below or call us on

    0860 103 091

      Complete the form below or call us on

      0861 235 664

      instant Funeral™ Plan

      Get Covered in 10 minutes.


      Apply online now!

      Click the link below or call us on

      0861 103 091

      Update my details

      Complete the form below or call us on

      012 366 3700

        Paying policy premiums remains important during Covid-19 (Coronavirus)

        Paying policy premiums remains important during Covid-19 (Coronavirus)

        02 Jun 2020

        This is an unprecedented time in South Africa. The lockdown levels are continuously adjusted in response to the impact of Covid-19 and this has had a far-reaching financial impact on people. 

        With this said, Assupol encourages clients to continue making premium payments towards their Assupol policies because paying premiums remains important in order to ensure that they are protected against life’s risks. 

        In order to assist clients who are struggling in this difficult time, Assupol has implemented flexibility across various products to ensure that clients remain covered for risk as follows:


        Funeral products

        • Assupol allows for up to three (3) consecutive premiums to be missed before a policy lapses;
        • Cover will be adjusted on a pro-rata basis for any missed premium/s;
        • Should three (3) consecutive premiums be missed and a policy lapses, a client will be allowed to reinstate the policy within two (2) months, with no waiting period.  However, the client will not have cover in the period between the lapse of the policy and the reinstatement. 

         

        Savings products

        • Assupol allows for up to three (3) consecutive premiums to be missed before a policy goes into a paid-up status. Paid-up status means monthly contributions on a policy have stopped. The balance is kept in the selected fund and continues to be exposed to markets while investment returns (gains or losses) continue. 
        • A client can re-activate premiums on a policy at any time after it has gone into paid-up status, however, a paid-up penalty may apply. If premiums are re-activated within 12 months after the policy had gone into paid-up status, the paid-up penalty will be allocated back into the policy.  

        Life products: Progress 4Sure Plan

        • Assupol allows for up to three (3) consecutive premiums to be missed before a policy lapses;
        • Any outstanding premium/s will be deducted from a claim that a client may submit;
        • Should a client miss three (3) consecutive premiums and a policy lapses, the client will still be allowed to reinstate the policy within 12 months, but note that new waiting periods will apply.

         

        Life products: Progress Legacy Plan and Progress 4Life Plan

        • Assupol allows for up to three (3) consecutive premiums to be missed before a policy lapses;
        • Any outstanding premium/s will be deducted from a claim that a client may submit;
        • Should a client miss three (3) consecutive premiums and a policy lapses, the client will still be allowed to reinstate the policy subject to answering all medical questions for underwriting again. Assupol may also not be able to offer the client the same premium and terms as they previously enjoyed.

        This article does not replace financial advice. Please contact us on 0861 235 664 to receive further information on these solutions before making any financial decisions. 

        Call Me
        Call me
        Claims
        Claims