T&C's
Policy provisions:
Your policy comes into being when we, or someone authorised by us, receives your acceptance form (on the back of this page) and the first premium for your policy. Your acceptance form and the policy provisions on this page are a complete summary of your policy.
The life insured:
This is the person whose life is insured under your policy. This is you, and anyone you include as immediate family or extended family.
The start date for the life insured:
This is the first day of the month in which we, or someone authorised by us, receives the first premium for the life insured. That’s when death cover for an accidental death starts, as well as the waiting period for a natural (non-accidental) death. During a waiting period, premiums must be paid, but policy benefits cannot be claimed. The waiting period is 6 months for you and immediate family, 6 months for extended family, and 2 years for suicide.
Age of lives insured
at their start date:
You, and your spouse included as immediate family, must be under 75. Children included as immediate family must be under 21; children who are permanently disabled and totally dependent on you may be included at any age; and children who are unmarried and full-time students at an education institution approved by us may be included if they are under 25. Extended family, including a spouse or children included as extended family, must be under 95.
When cover for
children stops:
Cover for children stops when they turn 21; for full-time students (described above), it stops when they turn 25; and for disabled children (described above), it does not stop at any specific age. For a still-born child, the death benefit will be paid only if the birth takes place after 26 weeks of pregnancy, and is not self-induced.
Maximum funeral cover:
When a person takes out funeral insurance with us, the total funeral cover for that person under all individual and group policies with us may not be more than the following maximums: R10 000 if the funeral insurance is taken out when the person is less than 6 years old; R25 000 if it is taken out when they are 6 or older, but younger than 18; R50 000 if it is taken out when they are 18 or older, but younger than 65; and R15 000 if they are 65 or older. Any cover above the maximum automatically falls away.
Premiums are paid monthly:
Your insurance premium must be paid before the end of each month, and provides the death cover for that month. The premium pays for your cover only, not for any investment or cash value. Premiums are not refunded if your policy ends for any reason. Any joining and other fees that you pay under a group scheme are not part of the premium. If a premium is not paid on time, and remains unpaid for another 15 days, your policy ends automatically. If, within 1 months of your policy ending, we again receive a premium, we may reinstate your policy, and new waiting periods would then apply.
How to claim on
this policy:
We must receive a completed claim form, obtainable from us, within 6 months of the death of the life insured. The person who is claiming must, at their own cost, prove the claim, show that no exclusions apply, and give us all information and documents we need to consider the claim. This must include the following:
– the claim form – properly completed and signed Download Here
– certified copy of the ID document of the person who is claiming
– certified copy of the original death certificate of the life insured (DHA 5)
– certified copy of the ID document of the life insured, with “deceased” or a similar notice stamped on it
– copy of the DHA1663 notification/registration-of-death form
– copy of the claimant’s bank statements for the last 3 months
– police report if the death is due to unnatural causes – for example, a motor-vehicle accident.
When the policy
does not pay out:
No benefits are paid out on the policy if the claim is caused or accelerated, directly or indirectly, by – war, riot, civil commotion or terrorist activity, – wilful exposure to danger, – involvement in a criminal activity, – radioactivity or a nuclear explosion, – use of alcohol above the legal limit, – use of an illegal substance.
You can cancel at
any time:
You can cancel the policy at any time by written notice. If we receive your notice no more than 30 days after you receive this document, the policy ends when we receive your notice. This is known as a cooling-off cancellation. If we receive your notice after the 30 days, your policy will end at the end of the month in which we receive your notice, and then only any premiums received after the policy has ended will be refunded.
The actuarial basis
of your policy:
Your policy operates according to actuarial rules, specifications and formulae, which are approved according to law. These ensure that your policy is financially sound, and is run properly and fairly.