AVBOB is the largest Mutual Assurance Society in Africa, and provides specialist funeral insurance and burial services under one roof. The company was founded in 1918 and will be celebrating its Centenary year in 2018. A family orientated brand that is all about customer satisfaction and hassle free service.
AVBOB is family and we always ensure that family comes first, no matter what. AVBOB offers funeral related products and services under one roof, making it a “one-stop shop” for the consumers. The products and services on offer are tailor made to ensure that customers’ needs are taken care of. That means that we have something special for everyone, young and the not so young whom we hold very dear. We call them senior citizens and the group funeral insurance products for senior citizens and pensioners are tailored made for you if you are, let’s just say not so young anymore. These are part of our group scheme portfolio but can be by individuals. They are specifically designed to cater for the needs of our senior citizens aged 60 years and older and only provide cover for one life insured making it more affordable.
The policies for people living in old age homes and retirement villages are designed to provide funeral cover giving you the choice of paying premiums monthly or once-off. It is a single life policy for whole-life and the sum insured can vary from R2 000 to R4 000. Group funeral insurance for pensioners not living in an old age home or retirement village provides funeral cover with similar options in terms of monthly or once-off premiums and insured values of R8 000 or R10 000. Applicants further have the choice of adding of additional benefits which will increase the value of the policy in order to pay for things not ordinarily covered by the policy.
Being part of the AVBOB family has afforded clients a share in the successes we have had over the past nine years. A bonus declaration that was made during 2015 and allocated to policyholders from 1 July 2016 amounted to R1,0 billion which brought the aggregate of profits shared with policyholders over the past nine years to R6.5 billion. This of course was made possible by the fact that AVBOB is a mutual assurance society and we don’t have external shareholders who can demand dividends. We only have policyholders which enable us to enhance the value of their insurance policies at no extra cost to our policyholders.
AVBOB putting family first, Always!