Serenity sells, markets, and administers both voluntary and compulsory funeral insurance group schemes/products. We arrange underwriting, collect premiums, facilitate payment of claims and complaints, and where applicable, effect any variations to policies. Our typical group schemes clients are funeral parlors, churches, burial societies, unions, corporates, any affinity group that needs funeral insurance products.
The purpose of a group scheme is to enable private funeral schemes to offer funeral policies/cover to the general public, thereby giving them the opportunity and the means to build a successful and highly profitable business. It is designed to give both the participating groups and members complete peace of mind by keeping the monthly premiums as affordable as possible, to ensure that underwriters settle claims promptly through service level agreements and to limit administrative costs at minimum.
All benefits are provided on a group schemes basis and offered to groups with 20+ (twenty plus) members. We aim to accommodate small and large groups and all quotations are individually prepared according to the size, nature and requirements of the group. We also offer the opportunity to include value added benefits in order to meet the specific needs of the group.
Our product features:
- Death benefits of up to R30 000.00
- Highly competitive premiums
- Extended family members can be added
- Value added benefits can be added (e.g. memorial benefits, repatriation and etc.)
- Claims paid within 48 (forty-eight) hours
- 6 (six) months waiting period for natural death
- No waiting period for accidental death (subject to payment of first premium)
- 12 (twelve) months waiting period for suicide
Our client / partner benefits
Additional benefits for our clients/business partners is at Serenity we will assist with Legal, Risk Management and Compliance Related matters at no costs. We will also assist in dealing with any regulatory issue from the Financial Sector Conduct Authority.
Summary of other service offering:
- Premium Collection (3rd party premium collection facilities)
- Product development
- Compliance management
- Distribution and marketing
- Risk and Due-diligence analyses