Quick facts: PEP offers funeral cover through its financial services partners. Cover starts from around R30 per month for individuals and can cover your whole family. Apply in-store at any PEP location.
Table of Contents
- What Is PEP Funeral Cover?
- How Much Does It Cost?
- What Is Covered?
- How to Apply
- How to Claim
- Waiting Periods
- Alternatives
What Is PEP Funeral Cover?
PEP offers funeral cover through underwriting partners such as Hollard and other licensed insurers. You can apply at any PEP store nationwide and pay premiums monthly. The cover is designed for low-income earners who want affordable funeral protection.
PEP funeral cover is separate from PEP loans (which are powered by Capfin). The funeral cover is an insurance product, not a savings product. Your premiums pay for insurance cover, and a lump sum is paid out when a covered person passes away.
How Much Does PEP Funeral Cover Cost?
PEP funeral cover premiums depend on the level of cover and who is included. Typical costs:
| Cover Level | Approximate Monthly Premium |
|---|---|
| Individual (R10,000 cover) | From R30/month |
| Individual (R20,000 cover) | From R55/month |
| Family plan (R10,000 per member) | From R65/month |
| Family plan (R30,000 cover) | From R120/month |
Note: Exact premiums depend on your age and the number of family members covered. Ask at your nearest PEP store for a personalised quote.
What Is Covered?
- Main member: Lump sum payout on death (from R10,000 to R50,000 depending on your plan)
- Spouse: Can be added to the plan for an additional premium
- Children: Typically covered at a reduced amount (e.g. R5,000 to R10,000)
- Extended family: Some plans allow you to add parents and in-laws
- Grocery benefit: Some plans include a grocery or cash-back benefit to help with immediate expenses after a death
How to Apply for PEP Funeral Cover
- Visit any PEP store in South Africa
- Ask at the counter about funeral cover options
- Bring your SA ID document
- Choose your cover level and who you want to include
- Complete the application form
- Set up your premium payment method (debit order or in-store payment)
You can also enquire about PEP funeral cover by calling the PEP customer service line.
How to Claim
- Contact the insurer (details on your policy document) as soon as possible after a death
- Provide the death certificate (certified copy)
- Provide the policyholder’s SA ID
- Provide the claimant’s SA ID and banking details
- Complete the claim form
- Claims are typically paid within 48 hours to 5 working days after all documents are submitted
Waiting Periods
- Natural death: 6-month waiting period from the start of the policy
- Accidental death: Covered immediately from day one
- Suicide: Typically excluded for the first 24 months
During the waiting period, only accidental deaths are covered. If the policyholder dies of natural causes within the first 6 months, premiums paid are usually refunded but no benefit is paid.
Alternative Funeral Cover Options
| Provider | Cover Range | From (per month) | Where to Apply |
|---|---|---|---|
| Capitec Funeral Cover | R10,000 – R70,000 | ~R35 | Capitec app or branch |
| Avbob | R10,000 – R100,000 | ~R50 | Avbob branches |
| Nedbank MyCover | R10,000 – R60,000 | ~R40 | Nedbank app or branch |
| Assupol | R10,000 – R80,000 | ~R45 | Assupol branches |
| Old Mutual | R10,000 – R100,000 | ~R55 | Old Mutual branches |
Disclaimer: This guide is for educational purposes only. Premiums and cover amounts may change. Always verify current details directly with PEP or the underwriting insurer. CodeCash.co.za is not affiliated with PEP.