Vital Fiduciary

Vital Fiduciary

Nobody wants to talk about what happens when they die, but take a moment to think about what your family or relatives have to deal with if you fall away. Not only do they grieve the loss of a loved one, they have to deal with the immediate financial impact of your death, as well as ensuring that your property and other assets are correctly divided. By not leaving a set of detailed instructions, i.e. Last Will and Testament, the decision is left to the laws of intestacy.

What happens if you die without a Will?

  • Your minor children’s inheritance might suffer, since anything they are entitled to receive, will have to be transferred to the Government’s Guardians Fund in a monetary form, where it will remain until they turn 18. This means that the family home would have to be sold, which is quite possibly something you would never have chosen to happen.

  • If you have no immediate or close family, distant relatives will claim the inheritance instead of your close friends or a life partner.

  • Your estate will be dealt with according to rigid and inflexible laws.

  • The court will appoint someone you do not approve of to be your executor and/or trustee.

Our approach to the need for a Will is highly differentiated and involves integrating the Capital Legacy Protection Plan. The Legacy Protection Plan’s innovation is projected to save our policyholders millions in legal expenses related to their deceased estates. These fees come in the guise of Executor fees, Trustee fees and Conveyance fees (for the transfer of fixed property to heirs) that deplete your family’s inheritance. Through the Legacy Protection Plan, the policyholder can fully recoup these legal fees. Therefore your intended legacy is preserved and not sacrificed to unexpected fees in the event of your death.

Vital Funeral Scheme

Vital’s Funeral Cover is not what you might come to expect.  We know that financial concerns are first and foremost on your mind when a loved one passes away, but from experience we also know that many other factors needs to be taken care of.

Our funeral cover automatically includes the following benefits:
  • Accidental Death Benefit

  • Trauma, Assault and HIV Protection Cover

  • Emergency medical services

  • Europ Assistance for the transportation of deceased’s body

  • Legal assistance

  • Family Assistance Benefit

  • Funeral assistance

Funeral cover for the individual:
  • Main Member with maximum entry age is 55

  • Life Partner

  • Children

  • Parents and Parents-in-Laws up to a maximum entry age of 85

  • Extended family to a maximum of 8 family members

Funeral cover for groups:
  • Main Member with maximum entry age is 55

  • Member and Life Partner

Speak to your Vital Consult financial advisor today or contact us for a comprehensive quote.

Personalised funeral cover

We all want to show love and respect when a loved one passes away by being able to pay for a dignified funeral. This can be expensive. We may need to pay for the coffin, mortuary, funeral service, catering, travelling, flowers and tent hire. The Funeral Cover provides peace of mind for you and your family during the times of need by providing financial assistance to cover your funeral cost.

Factors that drive demand for and impact on funeral service provision

The following main factors drive demand for and impact on the provision of funeral services and its related financial services in South Africa:

  • The social and psychological presence of death

  • The value of a dignified funeral -particularly in the African communities

  • Difference in culture -for example, the funeral of a person from the Muslim faith will differ vastly from the funeral of an indigenous African

  • Funeral insurance is "bought and not sold"- the decision to buy a funeral product does not need persuasion • Multiple forms of funeral cover and providers per person- savings, policies, credit, etc.

  • Insensitivity to prices (especially in urban areas) • Differences between urban and rural users.

Vital Funeral will provide you with a solution to meet your needs.