For a member to qualify for funeral support they need to have at list introduced 5 new members to the Stokvel. Funeral Support has 6 levels.
For Basic level Investors
Note: That the 10 % meant for the Funeral Support instalment on the Basic Level will be saved on the member’s behalf and will be given to the member in the period of their investment maturity.
When a member has introduced 5 new members to the Stokvel they qualify for level 1 of funeral support. Below are the benefits for level 1 of funeral support:
A R50 Funeral Support Fee will be contributed on behalf of the member
R10 will be added to their first instalment for Funeral Support.
On the member’s Death an amount of R5000 will be payable to their nominated beneficiary. The beneficiary will also receive the member’s invested funds and their accumulated interest.
For a member to reach Level 2 each of their 5 introduced members must be on level 1 of Funeral Support.
At this stage you have already received all the level 1 benefits.
R15 000 will be payable if the Stokvel member or any of their immediate family members pass away (Immediate family members includes: The member, their partner/spouse and their children).
For a member to reach Level 3 each of their 5 introduced members must be on level 2 of Funeral Support.
At this stage you have already received all the level 1&2 benefits.
R25 000 will be payable if you or any of your immediate family members pass way (Immediate family includes: The member, their partner/spouse and their children, and 14 of their extended family members).
Please Consult a Tuckinvest Senior Representative for Level 4-6 and above