• Leaders in Funeral Group Scheme Insurance

Genlife Blog

We at Genlife Financial Services have a large knowledge-base when it comes to the funeral insurance industry and we would love to share some of it with you. We write on a wide variety topics such as funeral insurance, funeral cover, the software payment devices we use and so much more!

Be sure to keep an eye on this page for new blog posts about the funeral industry as a whole.

POPIA: what employers need to know. (Borrowed, written by Kirsten Eiser and Shane Johnson, 18 August 2020)

Author: alicia

Posted: 03 Sep 2020

The Protection of Personal Information Act 4 of 2013 (POPIA) which came into force on 1 July 2020 places several obligations on employers in terms of managing employee’s personal information; it also gives certain rights to privacy to employees.

Genlife Terms and Conditions – Claims and Procedures

Author: alicia

Posted: 01 Jun 2020

In the event of a claim, the specified benefit will be paid to the member or beneficiary.
2. Claims must be submitted to Liberty within 6 months of the death of the assured life.

3. Liberty reserves the right to cancel the policy and to declare all premiums paid by the member in terms of the policy forfeited if there is any evidence of, or attempted submission of, a fictional claim, fraud or misrepresentation.

Genlife Terms and Conditions – Complaints Procedures, Right to Cancel, Replacement and Contact Numbers

Author: alicia

Posted: 01 Jun 2020

Complaints Procedures:

Please contact Genlife Financial Services (Pty) and have the following information handy:
1.1 Policy Number

1.2 Identity Number

1.3 Nature of enquiry

Complaints which are not resolved to your satisfaction may be referred to Liberty’s Legal & Compliance department. Complaints which are still not resolved may be referred to the Ombudsman for Long-Term Insurance or the Registrar of Long-Term Insurance.

What is Treating Customers Fairly (TCF)?

Author: alicia

Posted: 01 Jun 2020

The treating customer fairly principle aims to raise standards in the way firms carry on their business by introducing changes that will benefit consumers and increase their confidence in the financial services industry.

New Funeral Trends In The USA – Baby Boomers Are Fueling An Industry That Is Ripe For Disruption. The Rise of The Death Concierge. (Borrowed, written by Bernhard Schroeder, 15 April 2019)

Author: alicia

Posted: 04 May 2020

If you have not visited the Costco website recently, you might not have noticed a new category they added: funeral. They currently list caskets and urns. If Costco is getting into the business of death, then this must be a large and growing industry. And it is. The funeral industry in the USA is estimated to be more than a $20-billion-dollar industry with an estimated 2.7 million funerals per year.

How to protect yourself from the Coronavirus disease (COVID-19)

Author: alicia

Posted: 16 Mar 2020

1. Wash your hands frequently
2. Maintain social distancing
3. Avoid touching eyes, nose and mouth
4. Practice respiratory hygiene
5. If you have fever, cough and difficulty breathing, seek medical care early
6. Stay informed and follow advice given by your healthcare provider

FSCA Press Release- FSCA Fines Channel Life

Author: alicia

Posted: 02 Mar 2020

The FSCA found that Channel Life concluded agreements with 168 individuals (referred to as runners) who collected insurance premiums on its behalf. Channel Life conducted financial services business with individuals who were not lawfully authorised in terms of the FAIS Act, therefore breaching section 7 (3) of the FAIS Act.

How to obtain a FSP License

Author: alicia

Posted: 03 Feb 2020

A FSP License is a license which is obtained from the FSCA. This license authorizes certain financial advisers to act as representatives or key individual of the company they work for, in which case the company is the actual registered Financial Services Provider (FSP) License holder.

The Funeral Underwriter Checklist

Author: alicia

Posted: 01 Apr 2019

So what should one look out for when considering an underwriter for funeral insurance? First and foremost one should identify a company with a solid reputation as a reliable and trustworthy organisation. The industry is regulated by the Financial Services Board, which ensures that clients’ interests are protected and service providers are legitimate.

Growth despite economic climate

Author: alicia

Posted: 01 Apr 2019

In contrast to the South African economy grappling with low growth in general, the local funeral industry is expected to grow by 12% year on year until 2020. What makes this industry so resilient in a challenging economic climate?