Value Insurance

We make insurance easier  

Only take out a Funeral Plan with a reputable, registered provider

The insurance industry like others is not immune to bad operators. This article highlights some of the steps taken by insurance regulators to protect South African consumers seeking Funeral Policies. These checks and balances will help you determine whether you are dealing with a legitimate provider or not.

Zimele Initiative

The Zimele Initiative launched by the Life Offices Association (LOA) ensures that low-income earners are given access to appropriate, affordable financial services products.

Zimele funeral products trust stamp Zimele branded products are an embodiment of ethical, well-suited products that meet the needs of many lower income South Africans. They are known as CAT minimum standard products which stand for:

  • C (Charges that are fair)
  • A (Access that is easy)
  • T (Terms that are decent)

Many companies have already adopted these Zimele standards that essentially guarantee fair charges, easy access to products via certain ATM's or retailers such as Shoprite, and acceptable terms to all South Africans.

Please take note One of the key provisions of the CAT standards, is the adherence to premiums being less than or equal to the maximum rates determined by the Life Offices Association and National Treasury.

So it clear, consumers should know that funeral plan providers bearing the Zimele stamp of approval, are providing products that are there to serve, not exploit.

Another provision is that a summary of policy terms must be provided to customers in writing, on their request, in any of the 11 official languages.

Further to the above, no HIV / AIDS exclusions may be applied at claims stage for lives accepted onto the policy.

There are other provisions in addition to the ones mentioned above, which makes this initiative very special to protecting the rights and dignity of all South Africans rich and poor.

Registered Sellers

Trustworthy funeral policy providers and insurers Funeral plans can be sold through different stakeholders such as banks, retailers, funeral parlours etc.

You must check that the seller you are dealing with is registered on the Life Offices Association (LOA) Intermediary Register as a representative.

Read the sellers brochures for details about:

  • its legitimacy to sell funeral cover
  • the registered insurance company (underwriter) providing the actual funeral insurance.

The seller must show you documentation to prove this.

Please take note The good news is that the Financial Advisory and Intermediary Services (FAIS) Act has put the Financial Services Board (FSB) in a much better position by helping it address many problems in the insurance industry − however be wary about who you deal with.

Registered Insurer

The most important feature of any funeral assistance policy / master policy is that the policy should be underwritten by a registered long-term insurance company.

Here is a list of registered long-term insurers opens in new window.

This is to ensure that the member is guaranteed a legitimate claim in the case of the insured event of death, because only an insurer has the resources to accept large scale risks amongst a wide customer base, and honour payment of claims as these arise.

In the membership certificate that must be provided to the policyholder, the certificate must clearly outline the:

  • name of the underwriter (insurer)
  • the premium payable
  • the benefits payable
  • claim procedures and other important information about the master policy.

The certificate must also outline other necessary information for the Policyholder to know such as, when the cover starts, what is covered, the exclusions, waiting periods etc.

The master policy must state clearly that the funeral parlour or their agents are not employed by the underwriter/ insurer and are therefore not the underwriters of the policy, says the FSB.

If you have any complaints or queries these should first be directed to the Insurer. If you are not satisfied, you can report the complaint to the Long-Term Insurance Ombudsman or the Financial Services Board.

Please take note The details of the Ombudsman should be on the Membership Certificate.

Full details of Insurance Regulators :− Ombudsman for Long-term Insurance

Insurance Ombudsman of South Africa Definition: An ombudsman is usually appointed by the government or by parliament but with a significant degree of independence, who is charged with representing the interests of the public by investigating and addressing complaints of maladministration or violation of rights.

The Ombudsman for Long-term Insurance (Ombud) is the regulator to approach for last avenue complaints on Funeral policies, i.e. after you have approached your policy provider / insurer.

The Ombud attempts to resolve complaints through mediation, recommendations and as a last resort, rulings on subscribing insurance members.

The Office of the Ombud is an independent scheme duly recognised as a financial ombud scheme in terms of the Financial Services Ombud Schemes Act.

Please take note 97% of registered long-term insurers, by asset value, subscribe to the scheme and are therefore subject to their jurisdiction and bound by their rulings

Who can complain to the Ombud?

Any policyholder, beneficiary, successor in title (e.g. a cessionary or an executor), premium payer or insured life who has a complaint against a subscribing insurer. If you are unsure, phone their office on 021 657 5000 or 0860 103 236.

Nature of complaints

The ombud commonly receives complaints or contractual disputes about communication / administration failures; mis-selling; lapsed policies; and alleged unfair rejection of claims.

Financial Services Board

The Financial Services Board (FSB) regulates insurers, intermediaries, retirement funds, friendly societies, unit trust schemes, management companies, and financial markets.

A registered insurance company is an entity that is registered with the FSB as an insurance company.

With regards to Insurance, the Registrar only deals with complaints about:

  • Registered insurance companies; or
  • Entities that are conducting illegal insurance business.

According to the FSB, conducting illegal insurance business means:

  • an entity that is not registered with their office as an insurance company; and/or
  • an entity that is not conducting insurance business on behalf of a registered insurance company.

Please take note Only registered insurance companies are allowed to underwrite the risks of death for funeral policies and pay out claims.

FSB Contact Details

To confirm whether or not an entity is registered by SA insurance law contact the FSB's Insurance Compliance Department on 012 428 8081.

Choose from two of SA's best funeral insurers ...

Hollard Funeral Plan Hollard Funeral Plan
Affordable funeral cover ranging from R10,000 upto R75,000. Get 20% cash back!
Clientele Ultimate Dignity Plan Clientele Ultimate Dignity Plan
Plans available from R132 per month. Enhanced benefits. Claims paid in 24 hours.

Need Funeral Insurance Quotes? Let these companies SAVE you money


YouInsure is one of SA's best insurance quote comparison service with over 500,000 satisfied customers!

Protect your home contents from theft and damage. Also get buildings cover. Get a Home insurance quote »

Car Insurance premiums can always be lower! Get a car insurance quote »

Life Insurance - Get up to 6 quotes from SA's top life insurers. Easy application process. Get a life insurance quote »

Funeral Cover that is affordable. From only R120 per month. Up to R110,000 paid within 24 hours. Get a funeral plan quote »

Hospital Insurance Plans from R110 per month, up to R200,000 hospital cover per year. Daily cash amount up to R2,000 per day - T&Cs
Get a hospital plan quote »

Legal Cover of up to R120,000 per year. Emergency line open 24/7 for any legal advice. Policy Assistance, and representation, negotiation with third parties. Get a legal insurance quote »

Business Insurance Find specialist business insurance products, that are tailored for your type of business. Over 28 Business Insurance Underwriters represented. Get a business insurance quote »
Hollard Product Quotes

Hollard is SA's largest privately-owned insurance group. An innovative, independent company with over 6 million policyholders.

Funeral Cover ranging from R10,000 to R50,000. Product details | Funeral quote »

Legal Cover between R75,000 and R200,000 per legal matter. Product details | Legal quote »

Pay as you Drive is an innovative car insurance product where your insurance premiums are based on the actual kilometres you drive i.e. you can pay cheaper premiums if you drive less than the average motorist. PAYD quote »

Comprehensive Car Insurance is insurance offering maximum protection for your car. Third Party, Fire and theft insurance. Comprehensive car quote »

Mechanical Breakdown can be costly. The Hollard Extended Motor Warranty insurance policy gives you cover against this unforseen event. Motor Warranty quote »

Clientele Limited offers Funeral, Life, Hospital, and Life insurance products. A trusted insurance company in SA, Clientele has a product for you.

Funeral Plans
In the unfortunate, but certain event of death, your family should not have to worry about the money for the funeral; this is why the Clientèle Ultimate Dignity plan pays out within just 24 hours. Get a funeral quote »

H.E.L.P Plans
Health Event Life Plans from Clientèle Life offers you health insurance products to protect you and your family against the unforeseen costs related to hospitalisation. Get a H.E.L.P quote »

Legal Plans
Clientèle Legal offers you the opportunity to obtain Superior Legal Services. If you need to have your day in court, Clientèle Legal offers you inexpensive legal cover and an easy way to get your own qualified, professional lawyer. Get a legal quote »

More features

Existing Policy issues and queries? Use our Company Finder to find insurers contact details and more.