Sanlam Ltd. and Lion of Africa Assurance Co. are among insurers whose sale of funeral policies for children on welfare has led to a confrontation with South Africa’s government, which wants to end the practice.
Agents for the companies and other insurers sell policies to parents or guardians who receive the welfare grants on the children’s behalf. The forms they sign include a written mandate permitting a deduction directly from the grant before it’s paid into their bank accounts. Read More
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