Pioneer Assurance has a tailor-made Group Last Expense insurance cover that is meant for registered groups such as Corporates, Cooperatives, Welfare Groups, Micro Finance Institutions and SMEs that pays a benefit towards meeting, the funeral expenses of a member.
By arranging for the payment of a set sum upon the untimely passing of any scheme member, Pioneer’s Group Last Expense plan eases the burden of funeral arrangements and associated costs.
Benefits at Glance
A benefit of a specified sum assured per member is payable on death of any of the lives assured (principal member, spouse, child and parent/Parent-in-law) within 48 hours of documentation.
The benefits of this cover range from 50,000 to 300,000
Waiting period: 2 months unless death occurs through accident for stand-alone policy
Age: 1 – 70 years at entry for principal members and spouses and 80 years for parents and parents-in-law
Annually renewable cover
Minimum membership per group is fixed at ten members of a registered group
Claims paid within 48 hours of reporting & documentation