"Death is inevitable. A funeral, in one form or another, regardless of culture or religion, is inevitable. Obtaining insurance cover for a funeral is usually easy, generally affordable, and most importantly: based on an inevitability.
It is therefore not surprising that funeral insurance is a considerable portion of Life Insurance business in South Africa. Countless South Africans ensure that, even if they have no other insurance policies in place, they have, at the very least, funeral cover for themselves or their loved ones.
In terms of the Insurance Act 18 of 2017, there are a total of nine classes of Life Insurance Business, namely: Risk, Fund Risk, Credit Life, Funeral, Life Annuities, Individual Investment, Fund Investment, Income Drawdown and Reinsurance. Funeral cover can be underwritten under either the Risk class or the Funeral class of Life Insurance Business.
The classes of Life Insurance Business have various prudential and market conduct standards that need to be adhered to. Although some of these standards are constant throughout the various classes, there are some standards that differ. The mini-dissertation explores these differences, as well as what effect these differences would have on the public.
In essence, the author discusses the two classes in which funeral insurance
can be underwritten, the various standards that are applicable to the two classes, as well as whether or not the choice of class would ultimately affect the policyholder, and if so, if said effect is to the policyholder’s detriment." / Mini Dissertation (LLM)--University of Pretoria, 2020. / Mercantile Law / LLM / Unrestricted
| Identifer | oai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:up/oai:repository.up.ac.za:2263/78732 |
| Date | January 2020 |
| Creators | Strijdom, Glyniece Candice da Costa |
| Contributors | Millard, Daleen, candicestrijdom@gmail.com |
| Publisher | University of Pretoria |
| Source Sets | South African National ETD Portal |
| Language | English |
| Detected Language | English |
| Type | Mini Dissertation |
| Rights | © 2019 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. |
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