What Is Indie Finale?
When you finally take the big nap, we’ll pay for your funeral and other once-off final expenses so that the peeps you leave behind aren’t left with massive bills. They’ll get part of the funds within days of claiming to help with cash-flow issues during those difficult times. The rest of the funds are paid when the full claims process has been completed. What's more, because it's fully-underwritten, you'll get up to 15x more cover for the same price. And you can insure your family members too, with their cover doubling after 2 years at no extra cost.
Other insurers may call it Lump-sum Life Insurance or Funeral Cover (meh). We call it Indie Finale.
Do I need it?
Here’s the thing (spoiler alert) – you’re going to die. And when you do, there will be a funeral. Pretty much the worst party you’ll ever go to. Thankfully, you won’t have to live through it, but many of your most cherished friends and family will. We made Indie Finale so that you can go out with a bang, without leaving your family with the bill. Think repatriation, funeral planning, and other expenses. Without a policy, someone who wasn’t expecting to pay, or worse, someone who simply cannot afford to pay, would have to cover those costs.
Finalising your estate also involves estate duties and executor’s fees. If there is no cash to pay for these fees from your estate, your executor (the person appointed to deal with your estate) would normally have to sell your assets (like your car, or that sneaker collection you spent years hustling for) to cover the expenses. “Over my dead body,” you say? Well… exactly.
How much cover do I need?
For most of us, R500 000 Indie Finale cover should be enough to cover both funeral costs and estate-related expenses.
Fortunately, we’ve got your back and we’re here to help work out what cover you need.
In certain instances, we suggest you contact a financial adviser who is accredited to give advice about estate planning for needs that might require a more complex solution.
These are clients who:
- have total assets and discretionary investments (savings or investments that aren’t retirement annuities/pension funds, etc.) worth more than R5 million in total; or
- are planning to retire within 10 years; or
- have additional income sources such as rental income; or
- own a business, including farms; or
- have existing maintenance responsibilities
How are claims paid?
Claims are paid to your beneficiaries (or your estate if you haven’t specified any) as fast as possible.
A unique feature of Indie Finale is the quick payout, which is issued promptly at the time of claiming (after some basic checks), so that money is available for funeral-related costs. This quick payout will be 10% of your Indie Finale cover (up to a maximum of R50 000) provided you’ve had the product for more than 6 months before claiming.
The rest of the money is paid after we validate the claim. Basically, we just like to be sure no-one’s faking their own death and sippin’ Mai Tais while raking in the dough. (Don’t get any ideas now - you know you wouldn’t be able to resist putting that on Insta anyway.)
We recommend you choose a beneficiary to get the quick payout, with the rest being paid into your estate (to help cover estate duties and executor’s fees). That said, if you’d prefer, you can have the full cover (quick payout + balance) paid to either your beneficiary or into your estate (you’re the master of your own universe, He-Man).
So this lasts like, forever?
Kinda. But not exactly. Your cover will end if you decide to cancel Indie Finale (and stop paying premiums), or if you die and we pay a claim.
What about premiums?
Each year, we’ll take into account your details to calculate your premium. If you don’t tell us about any changes, the only thing that’ll change is your age. You don’t have to tell us if your circumstances change (like if you quit your job as a tightrope unicyclist), but there’s a chance these changes could lower your premium, so it might be worth giving us the lowdown.
The amount of Indie Finale you’ve chosen will influence your premium, which increases as you get older. You can lower the amount of cover at any time, which will decrease your premium from that point.
Your premium may also change over time as we make pricing and feature adjustments. Unlike most insurers, if our prices come down over time, or we improve our product, everyone gets the benefit, not just our new clients (we’ve got your back, fam).
Can I skip premiums?
You can skip a premium at any time. If you do, we’ll reduce your cover temporarily until you’ve paid 6 consecutive premiums.
All about that Bounty?
Indie uses smart technology to price your premiums more accurately, and we cut out the middleman. Which means we’re able to match up to 100% of your premium in an investment that generates wealth for you - we call it Bounty.