Leave only good memories and not unforeseen debt. The benefit goes towards any outstanding fees on your account and any excess funds will be paid to your estate.
How it works
Funeral cover/ Lump sum death benefit/ Takaful death benefit
- Flexi Account - R15 000 funeral cover included
- Islamic Flexi Value Bundle - R15 000 Takaful death benefit included
- Additional top-up funeral cover offered on Flexi Account and Flexi Value Bundle. Terms and conditions apply.
- Flexi Value Bundle- R15 000 lump-sum death benefit included
- Gold Value Bundle – R20 000 lump-sum death benefit included
- Islamic Gold Value Bundle - R20 000 Takaful death benefit included
- Premium Banking/Spouse Premium Banking - R25 000 lump-sum death benefit included
- Islamic Premium Banking/Spouse Premium Banking - R25 000 Takaful death benefit included
Underwritten by Absa Life Limited Authorised Financial Services Provider FSP 36116, Terms and conditions apply.
- Your account must remain active at all times
- For Flexi Account, Flexi Value Bundle and Islamic Flexi Value Bundle a minimum balance of R50.00 is to be maintained.
- Benefit is available from the first day of the month that follows the date on which the account is opened
- For non-Islamic benefits when you pass away, the funds will be deposited into your account and will go towards settling any outstanding account fees or overdraft.
- After any amounts owing have been covered, any part of the benefit will be paid to your deceased estate.
- Takaful death benefit goes towards outstanding fees on your account and any excess funds will be paid to your estate.
The benefit will not be paid if:
- You commit or attempt to commit suicide within the first 12 months and this results in your death
- You were involved or suspected to have been involved in an intentional crime that caused your death
- The person submitting the claim on behalf of your estate submits incorrect or incomplete information
- The benefit will be cancelled immediately if any fraud is committed in relation to a claim.
- At any time, prior to your death, if we or you elect to close or cancel your account, there will be no further cover and the funeral cover benefit will terminate automatically.
You should inform your next of kin of the benefit and any person authorised to claim it on behalf of your estate should contact an Absa branch.
How to claim
A claimant can visit any Absa branch with the following documents:
- The death certificate
- The deceased’s ID
- The claimant’s ID
- A letter of authority, only if the account is closed when the claim is submitted
The claimant will be given a claim form to fill in and the documents will then be sent to Absa Life for assessment and payout within 48hrs if it’s valid.
The Absa Life call centre number is 0860 106 238.