This product pays out a tax-free cash lump sum that may be used for funeral and related expenses. This product covers the persons listed on the Summary of Cover and will pay out on death of any of the persons covered.
You are the policyholder and the main person covered under this policy. You must have a valid South African identity document and be between the ages of 18 and 64 years old at the cover start date.
You must nominate a single beneficiary for your own life. When you die and in the event of a successful claim, we will pay your cover amount to your beneficiary. The premium payer on this policy cannot be your beneficiary.
You are the sole beneficiary for all the additional persons covered under this policy. If any of the additional persons covered die and in the event of a successful claim, we will pay out the cover amount (as per the Summary of Cover) to you.
Additional persons who can be covered
You can cover your spouse, children, parents and extended family members all under this policy, as set out below. Everyone covered under this policy must have a valid South African identity document, except for persons under the age of 16.
Spouse: Your legally recognised husband or wife or permanent partner or civil union partner who is under the age of 65 at the cover start date. Only one person can qualify as spouse under this policy.
Child/Children: Up to six unmarried children, under the age of 25, can enjoy cover if they are your:
• Biological children
• Adopted children
A child’s cover will end on the last policy anniversary before his/her 25th birthday.
Cover for stillborn babies (after the 28th week of pregnancy) and babies up to the age of three months will be provided only if you are or your spouse is the mother. A maximum of one claim for stillborn babies and babies up to the age of three months can be paid in terms of this policy.
Parents: Parents include your biological or legally adoptive parents or your parents-in-law. A maximum of four parents can be covered under this policy. Parents must be under the age of 85 at the cover start date.
You can have a maximum of two extended family members covered under this policy. To qualify an extended family member must be under the age of 75 at the cover start date and be a family member that is financially dependent on you where the relationship and dependency can be substantiated.
Cover Start Date, Waiting Periods And Exclusions
Cover start date
The cover will start from the 1st of the month following receipt of the first premium for each person covered.
Persons covered under this policy have a six-month waiting period for death as a result of natural causes. The waiting period for each person covered starts from their cover start date as defined in the Summary of Cover.
This means, if a person covered dies from natural causes in the first six months from the cover start date, the cover amount will not be paid.
If a person covered dies from natural causes after six months from the cover start date, the cover amount will be paid.
However, if a person covered by this policy dies from an accident in the first six months from the cover start date, the cover amount will be paid. An accident means something that happens from outside your body or with force, and so suddenly that the person covered was not prepared for or expecting it. An example of an accident is a vehicle accident. Death must occur within 180 days of the accident.
If a child was added to the policy within three months following the birth and the mother is not within her waiting period, no waiting period will apply to that child.
We have the right to waive the waiting period at our discretion, for example, if this policy replaces another funeral cover policy with us, the waiting period may, at our discretion, be carried over to this policy or waived.
We will not pay out in the event of suicide or if death is a result of a self-inflicted injury within 24 months of the cover start date. We will not pay out at any time if a person covered dies while breaking the law or while exposing himself or herself to war or war-like activities.
Note:The waiting periods and exclusions will also apply to new persons covered as well as in the event where you apply to increase the level of cover. Where the original cover is increased on your request, the waiting period and exclusion will only apply to the added cover.
The cover amount is the tax-free lump sum we will pay on your death or death of any person covered under this policy. The cover amount for each person covered is set out in the Summary of Cover.
The amount paid for a stillborn baby is 12.5% of the mother’s cover amount only if you are or your spouse is the mother.
You can decrease or apply to increase the cover amount as well as add or remove persons under this policy at any time. Any changes will be effective from the 1st of the month following the request for change, once the adjusted monthly payment is received.
Proposed Cover Amounts
At the cover start date, the following cover limits apply:
• Your cover amount and the cover amount for your spouse and parents cannot exceed R50 000.
• The cover amount for your children and extended family members younger than 6 years old cannot exceed 25% of your cover amount.
• The cover amount for your children and extended family members between 6 and 13 years old cannot exceed 50% of your cover amount.
• The cover amount for your children and extended family members 14 years of age and older cannot exceed 50% of your cover amount or R25 000.
• In addition, at any point during the lifespan of this policy, by law:
• The cover amount for stillborn babies, children and extended family members younger than 6 years old can never exceed R10 000.
• The cover amount for children and extended family members between 6 and 13 years old can never exceed R25 000.
• Note: these limits are subject to changes in legislation.
The monthly payment, as stated in this agreement, includes all the premiums for all the persons covered under this policy.
You need to ensure that there is money in your chosen bank account on the monthly payment date.
You will be allowed one skipped payment for every 12 consecutive payments made, provided that there was no claim during that period. You can choose when you want to take your payment holiday. You must notify us 30 days in advance if you wish to make use of your payment holiday. Cover provided under this policy continues during the payment holiday.
If you have missed a payment, we may attempt another deduction. If this payment is also not successful, we won’t provide cover for that month but the policy won’t be cancelled as long as the next payment is made. If your next payment is also missed, your cover will be cancelled.
Annual premium and cover increases
Your cover amount and premiums will increase by the same percentage every 12 months to keep up with the pace of inflation.