IMPORTANT NOTICE: FUTURA BURIAL SOCIETY
Dear Policy Holder,
The current insurer of the Futura Burial Society product, Capital Alliance (Liberty Life) has notified us that they will no longer insure our product range, this letter serves to confirm that the insurance cover will be taken over by African Unity Life Limited (FSP number 8447) as from 1 February 2021.
Due to the unfavorable claims experience over the last few years, there will be an increase of 35% in the risk cover rate as from 1 February 2021, which will effectively lead to the premium that you pay to increase by an average of between 25% to 30%. You will receive an SMS shortly to confirm the new premium payable for your February 2021 and thereafter premiums.
We remain confident that the premiums are still competitive in the Burial Society market and we will continue to consider adding further product options which may suit your basic requirements for funeral cover at a more affordable price, i.e. by limiting entry age or number of extended family members over a certain age. Before taking a decision to terminate your cover under the Futura Burial Society, we urge you to discuss the matter with your Futura agent and consider the options, as an example, lowering the cover to obtain a more affordable premium, therefore ensuring that you do not loose the benefit of the waiting period that may already have passed, or needing to exclude extended family members that have passed the maximum entry age imposed by other products you may consider.
Please do not hesitate to contact us on firstname.lastname@example.org should you require further information or assistance in this regard.
Tel: 087 702 2320