How can a spouse or dependents avoid the pain of trying to find money for day-to-day living expenses due to a frozen bank account on the death of a breadwinner or husband or wife married in community of property?
Many credit providers insist that you have debt protection before lending you money –especially in the case of home and vehicle loans.
Finalising your estate also involves estate duties and executor’s fees. If there is no cash to pay for these fees from your estate, your executor (the person appointed to deal with your estate) would normally have to sell your assets (like your car, or that sneaker collection you spent years hustling for) to cover the expenses.
The Shackleton Life QuickClaim policy benefit will be paid within two working days of receiving all necessary documentation supporting a valid claim, and can be used to cover immediate living expenses after the death of a loved one.
The Shackleton Life QuickClaim Policy is underwritten by OMART (Old Mutual Alternative Risk Transfer Limited) a licensed life insurer and a member of the Old Mutual (South Africa) Limited group of companies.
The policy is a whole of life policy meaning that it can be kept for your whole of life as long as you continue to pay the premiums, there is no term associated with the policy.
You can choose cover for any amount between R50 000 – R1 000 000 cover
Minimum entry age – 18 years old
Maximum entry age – 60 years old
*The acceptance of the policy by OMART is based on the outcome of your answers to the medical questionnaire.
For a family this is a difficult time: If you are the breadwinner this could be disastrous for your dependents, as they would need access to the money in your accounts to pay for immediate expenses such as household bills, day-to-day expenses, food, home loan instalments, vehicle instalments, school fees, etc.
Without access to money from your bank accounts where will they get funds for day-to-day expenses while they wait for the Estate to get finalized?
The Shackleton Life QuickClaim policy benefit pays your nominated beneficiary between R50 000 – R1 000 000 to be used for your dependents’ immediate needs and expenses within two working days of receipt of the death certificate and all required claim documentation supporting a valid claim.
A family may have Life Cover, but this typically takes a while to pay out and is usually put in place for a specific need, and not for the immediate day-to-day living expenses required by others after your death.
This is why it is important to consider a policy such as the Shackleton Life QuickClaim policy to provide for day-to-day living expenses.
The Shackleton Life QuickClaim policy benefit will pay the beneficiary named in the policy within two working days of receipt of all claim documents supporting a valid claim, to enable them to pay for these immediate expenses by giving them access to the money required during this difficult time.
No extensive medical examinations or blood tests required –You will, however, be subjected to a few medical underwriting questions to determine if you are eligible for cover to be accepted. There is a 3-month waiting period for Natural Death and General Exclusions applicable (see payment of benefits below).
(if selected) will still be eligible to receive up to R100 000 worth of cover at standard rates.
Application is easy. Call us on 087 232 7014
Or Click Here for a consultant to contact you.
For more information, please contact us.