With effect from 1 August 2016, the LA Retirement Fund has introduced a flexible funeral cover benefit design. When new members join the LA Retirement Fund they have an opportunity to select the option that best suits their needs and budget.
The insurer has also agreed to permit all current members as at 31 July 2016 the once-off opportunity to increase their cover to either option 2 or option 3 with effect from 1 September 2016 without submission of any medicals.
Unlike your death and disability cover provided by the Fund where you may change your level of cover annually, this is a once-off irrevocable choice. You will therefore not be permitted to increase or decrease your cover in subsequent years.
To take advantage of this opportunity you must complete the Funeral Cover Option form and ensure that it is received by the administrator by no later than 31 August 2016.
Please only fax or e-mail your completed option form to the Fund in order to ensure that it is received timeously. Please retain your transmission slip (if you faxed your form) or a copy of your e-mail as proof of your submission. This will assist the Fund in resolving any future queries regarding the submission of option forms.
Failure to submit the completed form by 31 August 2016 will mean that you retain the minimum cover as provided for in option 1.