AVBOB: 100 years of sharing its success with all South Africans
AVBOB is a mutual assurance society. Unlike other companies, it doesn’t have any external shareholders and owners. AVBOB is effectively “owned” by its policyholders – and is managed for their benefit. Because of its status as a mutual, AVBOB is able to allocate its surplus profits to its policyholders and members – 80% of whom are from previously disadvantaged groups – in the form of special bonuses and free funeral benefits*. These special bonuses and free funeral benefits* are over and above the cover that is provided by the policy, and come at no cost to the member. Because when AVBOB says “free”, it really does mean free.
If you have been with AVBOB for a period of two years or more, you’ll receive the following free benefits*, provided you comply with the terms and conditions:
A free basic funeral to the value of R11 000*, which includes:
• All undertaking services;
• Use of AVBOB’s mortuary facilities;
• Use of a hearse;
• A basic coffin;
• Arrangement conference with the family;
• Use of graveside equipment;
• Administrative support in obtaining documentation.
The free funeral benefit* of R11 000 is given to every person covered under a qualifying AVBOB funeral policy, so that none of the costs listed above are charged to the person arranging the funeral. If, however, you upgrade the requirements of the funeral to meet the cultural preferences of the family of the deceased, you can use the policy funds to upgrade to a more elaborate casket, to cover catering and floral costs, or to add that extra special touch as a fitting tribute
And there’s more. In addition to the free basic funeral*, AVBOB also gives each person covered under a qualifying policy the following:
• R2 500 cash upfront to help you take care of any urgent payments needed* – for example airtime, groceries, electricity, or anything else the family requires ahead of the funeral.
• Free transport of the deceased within South Africa*. For AVBOB’s many policyholders who reside and work in different provinces, this could save thousands of rands in transporting the deceased back to the family homestead. In effect, you can save up to R16 000* off the total cost of the funeral. In addition to this, AVBOB gives the premium payer a free six-month premium holiday*: Should the premium payer lose his/ her job, all lives covered under the policy will be covered for six months, without the need to pay any premiums.
To get these free benefits*, just three things are required:
• The funeral must be conducted by AVBOB;
• The cover on the policy must have been in place for two years; and
• The policy premium must be paid up to date. AVBOB Savings Plan policyholders also benefit when arranging a funeral with AVBOB, as they receive up to R4 000* off funeral costs*, as well as free transport of the deceased in South Africa*. And for funeral policies older than six months but less than two years, other benefits* apply.
How is AVBOB able to do all this? AVBOB is a mutual, a family and family comes first. Always!
AVBOB’s advice to its policyholders is not to cash out their policy to make use of another undertaker. Why should you pay up to R16 000* for services that AVBOB will give you absolutely free *?
Buy your copy of Cape Argus & Tonight on August 16, as AVBOB is making a special announcement for the benefit of its policyholders.
Speak to your local representative to find out more or call AVBOB on 0861 28 26 21.