Avbob increases free funeral service benefits offered to members

The Avbob Group — Avbob Insurance, Avbob Funeral Service and Avbob Industries — is Africa’s largest mutual society, providing a one-stop funeral insurance and burial service solution to its 2.8-million policyholders.

Being a mutual society means the business is able to reward its members by giving a substantial portion of its profits back in the form of special bonuses and enhanced benefits that increase the value of their policies.

In fact, during the 2022/2023 financial year, Avbob set aside R2.3bn for the improvement of member benefits. Free funeral services and products to the value of R483m were provided to members by Avbob Funeral Service, and the society paid out R2.7bn in the form of member benefits.

As part of the group's strategy to provide its members with financial security and support through its shared value mutual model, it also increased the free funeral benefits it offers as of February 1.

Free funeral benefits

The free funeral benefits^* Avbob offers to it members are an indication that shared value is the one of the best ways to support policyholders. These benefits have grown for the past five years from R11,500 to the recent increase in benefits of up to R21,500. 

The improvements of the benefits include a R3,000 immediate cash payment for initial expenses, plus a choice of either R3,000 discount on a tombstone^** purchased from Avbob Funeral Service or a R3,000 discount on the crematorium fee — which is enough to cover most of this cost — provided the funeral service is conducted by Avbob Funeral Service at any of its more than 210 funeral branches across SA. 

These new benefits underscore the Avbob's commitment to the wellbeing of its members, said CEO Carl van der Riet. He is confident they will further strengthen the group's position as a leader in the country’s funeral insurance and funeral services industry.

Sustainability initiatives and innovation

The sustainability initiatives of Avbob are a major differentiator in how the group gives back to society. It partners with communities to deliver tangible benefits and value over the long term. In this way, it aims to boost the economic engines of tomorrow by improving the lives of all its members and stakeholders today.

“As a responsible corporate citizen, we are invested in serving the needs of South Africans beyond our core business as a provider of funerals and funeral insurance. We have fostered a culture of empathy that aims to support and build sustainable South African communities for over a century,” said Van der Riet.

Another way Avbob is contributing to a sustainable future for all is through its green innovations. It was the first in Africa to offer aquamation services, which are an environmentally friendly, water-based alternative to flame creation.

Avbob launched its first aquamation service centre in Cape Town in 2019, and opened a second at its Pretoria West branch last year. It plans to expand its aquamation services across the country over the next few years.

For more information, visit the Avbob website.

This article was sponsored by Avbob.

_{*Terms and conditions apply. **The discount on the tombstone is valid for 18 months from the date of the funeral and on condition that Avbob Funeral Service provides the tombstone. Free funeral benefits only apply if Avbob Funeral Service conducts the funeral. Avbob Mutual Assurance Society is a licensed life insurer and authorised financial services provider. FSP 20656. Avbob is a level 2 B-BBEE contributor.}