At the 73rd Annual General Meeting, AVBOB CEO Carl van der Riet announced a R13.1b cash benefit for qualifying members. This substantial cash benefit is issued at the discretion of the AVBOB Board and marks the sixth special bonus declaration, following the special centenary bonus declared in 2018. The bonus, 65Alive Cash Benefit, will be linked to members’ policies, effective January 15.
The 65Alive Cash Benefit is designed to be withdrawn when the policyholder turns 65 (provided the policy has been in force for at least 10 years) anytime from January 15.
The name “65Alive” reflects this eligibility condition. As a mutual society, AVBOB operates without external shareholders, meaning its members – AVBOB policyholders – share in the Society’s profits, which are distributed in addition to the standard policy benefits.
The sixth special bonus extends beyond funeral and life insurance. It encompasses AVBOB investment plans, both the five- and 10-year plans.
These investment plans qualify for the 65Alive Cash Benefit, which will become payable upon policy maturity, as confirmed by Van der Riet.
All existing policyholders will receive an annual communication letter via post, SMS, or email, outlining their policy benefits and any applicable bonuses and/or 65Alive Cash Benefit.
To guide this process, AVBOB must have up-to-date contact details for its members.
Therefore, policyholders are encouraged to review and update their information on the AVBOB self-service portal: https://selfservice.avbob.co.za/
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