News and Updates
Who will take care of your loved ones?
SARPBAC is excited to bring Beneficiary Care products to its members.
What this means in a nutshell is that in the unfortunate event of anything happening to you, your dependants will be taken care of, and monies left to them will be effectively managed with financial obligations such as school fees and medical bills taken care of.
Having access to these products gives members a sense of peace knowing that should anything happen to them, their dependants will not be left destitute.
The following two products are available and depend on the family’s need and value of the benefit:
- Provider – this product supports a Beneficiary’s well-being by assisting Guardians with regular payments. This product is a cost-effective option, which offers peace of mind to Guardians who have been tasked with taking care of a minor child.
Key benefits of the Provider product include:
- Security of regular payment
- Funds are available on a constant basis for the expected needs of a Beneficiary
- Monthly, quarterly, annual payments or a combination of these
- Guardian - safeguards the well-being of Beneficiaries, protecting and preserving their capital so that a brighter future may be realised.
Key benefits of the Guardian product include:
- Two Trustees are available at all times and are involved in the decision making of payments
- Monthly payments and ad hoc payments
- Payments are negotiated with service providers
- Payments are made directly to third party providers
- Consultation with Beneficiaries and Guardians on how best to utilise their capital
- Interaction with social workers to ensure the well-being of Beneficiaries