Why Insure with African Bank?
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Funeral Plan
African Bank’s Funeral Plan will cover unexpected costs of a funeral. Give your loved ones the send-off they deserve. Choose an affordable cover option for you and your loved ones. Or anyone important to you. We cover 8 out of 10 customers with our funeral plan.
Key Benefits
- Funeral cover with 24-hours promise pay out
- Cover up to R100,000
- No waiting period for accidental death
- No need to have a Bank account with African Bank to get the African
- Bank funeral plan
- Quick and easy online application - simply register and login
- No medical examinations
- From as little as R22
- Limited waiting period of 4 months for natural death for immediate family
- Limited waiting period of 6 months for natural death for extended family members
- Stillborn cover after 28 weeks of pregnancy
- Newborn premium waver and new born cover for the first 30 days from date of birth
- Child premiums for full-time students up to the age of 25
- Lifelong child premiums for permanently disabled or mentally ill children if we add them to the policy before the age of 25
- A grace period of 60 days from the premium due date if the premium was not paid before the policy lapsed and cover ceased
Premiums Calculator
Documents You Will Need When Claiming
Claiming for funeral insurance is quick and easy. Make sure you have all the documents when claiming.
- Certified copy of the beneficiary’s SA identity document
- Certified copy of the key member’s SA identity document
- Certified copy of the deceased’s SA identity document or birth certificate for minors
- Certified copy of the deceased’s death certificate
- Copy of the beneficiary’s most recent bank statement
FAQ’s
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More About Notice Deposit
Earn interest from day one by opening a Notice Deposit Account with African Bank. Take note the interest rates on a Notice Deposit align with prevailing market conditions.
Notice period
Choose your notice period. The options are 7, 32, or 90 days.
Extra deposits
You may set up a debit order or make extra deposits from as little as R100. They will help grow your investment.
Easy notice
Place notice on the banking App or on Online Banking. Click here to get started.
How to apply?
Download the banking App or register for Online Banking here. It takes less than 3 minutes to open your account.
Varying interest rates
Interest rates fluctuate and remain in line with prevailing marketing conditions.
Credit Life Insurance
Did you know that 9 out of 10 of African Bank’s customers are covered with African Bank’s Credit Life Insurance product? This helps secure your credit if insured events make it impossible for you to pay your monthly premium. Your credit obligation is covered during the term of your loan, should you be adversely affected as a result of loss of income events.
Get peace of mind knowing we cover your credit obligation for insured events such as death and loss of income events. If you don’t earn during your loan term or are affected by loss of income events, this policy can help you make your credit payments. We cover 9 out of 10 customers with our Credit Life Insurance product.
Ensure you have cover by keeping your credit repayments up to date. By doing this, you can rest assured that your African Bank credit life policy is active when you need to submit a claim.
Employed Credit Customers Will Get Cover For
Retrenchment instalment.
African Bank’s credit life insurance will cover your credit payments. This is if you work. Cover is for 12 months.
Retrenchment settlement.
Should you become retrenched for longer than 6 months, African Bank’s credit life insurance will settle your outstanding credit balance. This is for longer than 6 months. Of special note is that this offer applies only to credit life policies taken out before 09/2018!
Death.
African Bank’s credit life product covers your outstanding credit balance. This is to ensure your debt does not burden your family.
Compulsory unpaid leave or short time.
We cover your credit repayment should your income become affected for up to 12 months
African Bank covers credit customers who are self-employed or on pension for Death
Temporary disability, Permanent disability, Retrenchment, compulsory unpaid leave, and lay-off or short time are not covered for
90 day waiting period
Dismissals / misconduct, Suspensions, Participation in unprotected strikes, Employment contracts ended, Voluntary retrenchment and Voluntary retirement
FAQ’s
Vel tenetur officiis ab reiciendis dolor aut quae doloremque est ipsum natus et consequatur animi aut sunt dolores ut quasi rerum. Aut velit velit id quasi velit eum reiciendis laudantium quo galisum incidunt aut velit animi hic temporibus blanditiis sit odit iure. Eum laborum dolores ea molestias fuga qui temporibus accusantium qui soluta aliquid ab vero soluta.
Contrary to popular belief, Lorem Ipsum is not simply random text. It has roots in a piece of classical Latin literature Id pro doctus mediocrem erroribus, diam nostro sed cu. Ea pri graeco tritani partiendo. Omittantur No tale choro fastidii his, pri cu epicuri perpetua. Enim dictas omittantur et duo, vocent lucilius quaestio mea ex. Ex illum officiis id.
Aut architecto consequatur sit error nemo sed dolorum suscipit 33 impedit dignissimos ut velit blanditiis qui quos magni id dolore dignissimos. Sit ipsa consectetur et sint harum et dicta consequuntur id cupiditate perferendis qui quisquam enim. Vel autem illo id error excepturi est dolorum voluptas qui maxime consequatur et culpa quibusdam in iusto vero sit amet Quis.