Regardless of your age or the risk category you chose, as a contributing CRF member, you have funeral cover in the Fund.
If you retire within the Fundby choosing either the In-Fund Pension or the In-Fund Living Annuity Option, you have the option to continue with your funeral cover even after retirement.
This benefit will cover you, your spouse, and your children for the following revised amounts:
| Insured Person | Funeral Cover | Important to remember |
|---|---|---|
| Member | R50 000 | Cover ends when your services are terminated with the Municipality, however you have the option to remain covered even after retirement provided you select one of the In-Fund Annuity options |
| Spouse | R50 000 | At the time of taking out the cover, your qualifying spouse needs to be 15 years of age. Only one spouse is covered |
| Children (21-26) | R50 000 | Qualifying child must be a full-time student and unmarried. There is no age limit if a child is permanently disabled and dependent on the member |
| Children (11-21) | R50 000 | Child must be unmarried |
| Children (1-11) | R20 000 | |
| Children (0-1) | R20 000 | Stillborn children are also covered, provided that the pregnancy term is between 26 weeks and full gestation. |
Important facts to remember about your funeral cover:
- Provided that you were a member of the Fund before 01 July 2023:
- Should you apply for a lump sum disability benefit and the insurer approves your claim, you and your dependants remain covered until you reach the age of 65
- Your dependants are also covered until the time you would have reached 65 years of age, if you pass away
- You have a repatriation benefit which takes care of transporting the mortal remains of the deceased to the place of the burial within the borders of South Africa
- All funeral claims need to be submitted within six months of the date of the insured person’s death
- The Insurance Act 18 of 2017 requires that members nominate a beneficiary to receive their funeral benefit should you pass away. Please ensure that you update your Beneficiary Nomination Form which includes a section where you can nominate who your funeral benefit must be paid to should you pass away.
- At retirement you have the option to continue with your funeral policy, provided that you retire within either the Fund’s In-Fund Pension or In-Fund Living Annuity option.
- The funeral cover, covers up to 5 qualifying children
- Your Funeral Cover Benefit will be taxed as a fringe benefit, as a result you may note a slight increase in your taxable income due to the fact that the premium for these benefits must be added to your taxable income, the advantage of this is that should you claim for one of these benefits you will not be taxed when the benefit becomes payable to you