Lion to stop funeral cover for welfare kids | Fin24
 
In partnership with
  • Ferial Haffajee

    Why Minister of Public Enterprises Pravin Gordhan’s patriotism call to fly SAA flopped.

  • Solly Moeng

    State capture is meant to be over, but we aren't free if its beneficiaries go unpunished.

  • South African Airways

    A business rescue practitioner has been appointed to try and save the struggling flag carrier.

Loading...

Lion to stop funeral cover for welfare kids

May 16 2016 12:07

Johannesburg - Lion of Africa Life Assurance said it would stop selling funeral cover to child welfare recipients after the government this month said it would ban the practice to protect some of the country’s most vulnerable people.

"Any doubt that was cast on the applicable regulations in the last few months has been cleared up by the minister and is in line with our expectations and understanding," Lion of Africa said in an e-mailed statement on Monday.

The Minister of Social Development Bathabile Dlamini on May 6 said she would introduce new regulations that would better protect the 16.9 million welfare recipients from companies deducting money straight off social grant payments for services. One of those is to stop deductions from child grants, which make up the bulk of the payments.

NEXT ON FIN24X

 
 
 
 

Company Snapshot

Voting Booth

What do you think about private healthcare in SA?

Previous results · Suggest a vote

Loading...