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IMPORTANT NOTICE:
FUTURA BURIAL SOCIETY FUNERAL POLICIES

Dear Policy Holder,

The current insurer of the Futura Burial Society product, WorkersLife Assurance Company, has notified us that they will no longer underwrite our product range, this letter serves to confirm that the underwriting of the cover will be taken over by Sanlam Developing Markets, an authorized FSP: No 11231, as from 1 October 2022.

Due to the high claims experience over the last few months, there will be an increase in the risk premiums the underwriter charges. Your premium will thus have to increase as from the October 2022 payment, you will be informed of the increase via SMS message.

Please note, moving to Sanlam, your terms and conditions remain the same, your payment method remains the same and your waiting period is not affected, should your premiums be paid to date. We have compared rates from various insurers, and we remain confident that the rates secured are competitive in the Burial Society market.

Before taking a decision to terminate your cover under the Futura Burial Society Scheme, we urge you to discuss the matter with your Futura agent and consider your options, for example:

  • Lower the level of cover which will result in a more affordable premium.

  • If not possible to lower the cover, convert your policy from a 1 + 9 to a 1 + 5 option, thus retaining 5 of the current 9 extended family members with no waiting period imposed.

This will ensure that you do not loose the benefit of the 6 month waiting period that may already have passed, or needing to exclude extended family members that exceed the maximum entry age imposed by other products you may want to consider.

Should you have any queries regarding this, please do not hesitate to contact your agent or email us at funeral@futurasa.co.za.

Kind regards,

Harald Langhans
Futura SA Administrators

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