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Cash Funeral Plan
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The Moonlight Cash Funeral Plan is a micro insurance product with very low premium rates. The package comprises of basic funeral services and a cash pay-out.
Salient features of the Moonlight Cash Funeral Plan
| FEATURE | DESCRIPTION |
| Casket: | The casket is dependent upon the chosen plan |
| Cash Pay-out: | Payable upon the death of a covered life. The cash pay-out for children aged below the age 14 is a percentage of the amount payable to the policyholder as stated in the terms and conditions. |
| Minimum and maximum entry ages: | The minimum entry age is 18 age last birthday and maximum entry age is 65 age next birthday. |
| Minimum and maximum entry ages for dependants: | Dependants may be covered from birth and maximum entry age for dependants other than own children are 65 age next birthday. |
| Term of Policy: | Cover is for 12 months and is renewable annually. |
| Premiums: | Premiums are payable per life and are due on the 1st day of each month |
| Waiting Period: | The waiting period for this product is 3 months. However, accidental death is covered if it occurs during the waiting period. Waiting period for suicide is 6 months. |
| Grace and reinstatement periods: | A grace period of 1 month will be given if a premium is not received on the due date, followed by a 3 months’ reinstatement period. If a premium is received during the reinstatement period, cover is reinstated immediately and missed premiums do not need to be back paid. |
| Covered Lives: | A policyholder may cover as many lives as they wish as long as there is insurable interest. |