1 GROUP FUNERAL SCHEME BROKERS FSP35033 TEL: (021) VOX: FAX: (021) / Web: Up t R20000 fr all persns 18 t 64 years f age Up t R fr all persns 65 t 75 years f age Up t R fr all persns 76 t 85 years f age MONTHLY PREMIUM OPTIONS Single Cver 18 t 64: This cvers a single persn nly with n dependants R19.50 R27.30 R39.00 R58.50 R78.00 Family Cver 18 t 64 : Family is defined as a Husband & Wife with r withut 6 wn children r a Single Parent with dependent wn children r 2 peple f the same r different sex in a relatinship. R23.00 R32.20 R46.00 R69.00 R82.00 Single Cver 65 t 75: This cvers a single persn nly with n dependants R41.00 R57.40 R82.00 R Family Cver 65 t 75: Family is defined as a Husband & Wife with r withut 6 wn children r a Single Parent with dependent wn children r 2 peple f the same r different sex in a relatinship. R47.50 R66.50 R95.00 R Single Cver 76 t 80: This cvers a single persn nly with n dependants R51.00 R71.40 R Single Cver 81 t 85: This cvers a single persn nly with n dependants R72.65 R R145.30
2 6 mnth waiting perid (Qualifies frm mnth 7) 24 mnth suicide r attempted suicide exclusin in all cases. 1 mnth inceptin perid fr unnatural deaths in all cases PAYMENT OPTIONS We allw fr Cash payments and Electrnic Fund Transfers(EFT) (Banking Details will be supplied). Yu will be supplied with a specific Reference N. Please send the cmpleted applicatin frm and ID dcuments. DISCLAIMER INSURANCE PARTNERS accepts n respnsibility fr Cash r EFT payments paid int wrng accunts r with incrrect reference numbers. What is funeral insurance? It's a frm f life insurance that is designated as Family Assistance Business in the Lng Term Insurance Act, 1998 that cvers funeral expenses and is sld by funeral hmes and insurance agents, usually with the fllwing traits: It's sld t peple cncerned abut the expenses f their death fr surviving lved nes. Many f thse wh buy funeral insurance have health cnditins that make ther life insurance unavailable them. It may be sld by funeral hmes as a "pre-need" funeral plan. It's ften sld as a "guaranteed issue" plicy, which means it's available t anyne wh wants t pay fr it. Applicants fr funeral insurance dn't need t be in gd health as they d fr ther types f life insurance. It ften accumulates OR presents mdest cash value t carry the cst f a funeral. The premiums are generally lwer than fr an equal amunt f ther types f life insurance. The death benefit is usually smaller than fr ther types f life insurance.
3 Funeral insurance may be apprpriate fr yu if the fllwing are true: Yu can't buy traditinal life insurance due t health cnditins. The premium structure fits yur budget. The plicy gives yu a fair benefit fr yur premium. The plicy fits yur needs and the needs f yur beneficiary. Funeral insurance may nt be apprpriate fr yu if the fllwing are true: The designated beneficiary is a specific funeral hme. The benefit desn't keep up with inflatin (The traditinal Funeral Bks is a gd example f this). What can yu d t be a wise cnsumer? Ask yurself the fllwing questins: Are there ther methds f prviding fr final expenses? Life insurance may nt be yur nly ptin r the best slutin. Funeral insurance ptins can als be cnsidered. Am I getting a gd value? Cnsider the amunt yu wuld pay in premiums and the amunt f the benefit prvided by the plicy. Hw is the premium t be paid? Premiums may be paid in mnthly, quarterly r yearly instalments. The amunt f each payment may be structured that fits yur budget the best. Can I get traditinal life insurance? Yu may qualify fr life insurance at standard rates. If yu have health cnditins, there may be exclusins r higher premiums. D I retain the right t change beneficiaries? Yu may assign the plicy benefits t the funeral hme t the extent f the expenses with the remainder ging t yur beneficiary. Always assign a trusted family member r friend as a beneficiary. With the mney in hand, yu can negtiate.
4 D I have the right t cancel r change the plicy? In terms f the Plicy Hlder Prtectin Rules yu have the right t cancel the plicy in writing within the 1st 30 days and f membership and if yu have nt claimed that premium if yu have already paid will be reimbursed t yu. If yu cancel in any perid after the 30 days the plicy will lapse and yu will lse all paid premiums. If yu want t increase yur cver within yur age limit, the increase will g thrugh a new waiting perid while keeping yur present cver intact. What happens if I dn't r can't pay my premiums? The cmpany that yu are dealing with will usually lapse yur cver immediately depending n the rules f the scheme. A client that pays regularly usually gets a sympathetic ear in times f need. General Rules fr Funeral Insurance 1. Any persn ver the age f 18 years may participate as a main member in this scheme. 2. A restrictin f 6 children is placed n the size f a participating family and all dependent children must be wn r legally adpted children. 3. A main member and spuse can bth be members f the same plicy if they are legal y married, living tgether r married in custm law. Al details must be supplied at inceptin. 4. Standard 24-mnth exclusin applies fr all suicides frm date f inceptin. 5. All unnatural deaths are cvered after 2 nd mnth f date f inceptin if the data has been received by the administratr/insurer and the 1st premiums has been paid and received. "Accident" - means an unfreseen event, which culd nt reasnably have been expected t ccur and/r was nt designed, and which results in death caused directly and independently f all ther causes by sme external and visible means arising frm the said event and which caused immediate death. Illnesses arising frm such unnatural event and which causes death at a later stage is nt deemed t be unnatural death. 6. Cver n this scheme is based n a mnth-t-mnth basis and premiums received fr that mnth will cver yu fr that mnth nly. N Premium = N Cver. 7. Full premiums fr a particular mnth is payable n r befre the 5th f that mnth. Yu have until the end f that mnth t pay the premium at the maximum but then yu must pay a duble premium. 8. This is nt a savings plan and n mney will be refundable if yu shuld cancel the plicy at any time. If yu shuld becme in arrears with yur premiums the plicy can/will be cancelled. Yu will lse all paid premiums. 9. Premiums will because f different risk factrs in the Insurance industry vary frm time t time and can be adjusted if need be with a 30 calendar day ntice perid. Ntice f cancelatin f plicy must als be with a 30-day calendar perid. Infrmatin wrngfully r wilfully supplied incrrectly will als cause a claim nt t pay ut.
5 10. Membership f the scheme always cmmences n the 1st day f the mnth fllwing the mnth f applicatin r cmmences n the 1st day f a mnth selected by the client. 11. There will be n cver until after the 1st premium has been received and the designated waiting perids have been cmpleted. 12. Only members up t the age f 85 years (next birthday) will be accepted. All existing paying members f ther funeral schemes wh wish t shift their insurance t us and keep their inceptin dates in place must be able t shw prf that they had fr a perid f 6 mnths previusly paid their premiums n a regular mnthly basis. 13. Only claims submitted within 6 mnths f death having ccurred will be cnsidered if the claims qualify. 14. Claims are paid within 48 hurs after the Insurer has received all the crrect dcumentatin. 15. Claims will nt be cnsidered fr persns wh were nt mentined n the applicatin frm at inceptin. This als includes new-brn babies wh were nt reprted within 30 days after birth. Any new persn added at a later stage after inceptin date f the plicy is subject t a new waiting perid equal t that f the main member. 16. Any child dependant wh reaches the age f 21 years and wh is nt a fulltime student at a registered institutin r is nt physically r mentally handicapped must becme an wn main member. 17. Any child dependant wh at any age becmes pregnant and/r marries must becme an wn member with the same inceptin date f that f the riginal parent plicy. In the case f a marriage the new spuse will have a new inceptin perid. 18. Claims fr peple wh have been dead fr mre than 6 mnths will nt be cnsidered if prir ntice f the death had nt been received with the prescribed perid. 19. Stillbirths will nly qualify after the 26th week f pregnancy.
6 STATUTORY NOTICE TO LONG-TERM INSURANCE POLICY HOLDERS IMPORTANT - PLEASE READ CAREFULLY DISCLOSURE AND OTHER LEGAL REQUIREMENTS (This ntice des nt frm part f the Insurance Cntract) As a lng-term Insurance Plicyhlder, r prspective Plicyhlder, yu have the right t the fllwing infrmatin: 1. The Intermediary (Insurance Brker r Representative) dealing with yu, at the earliest reasnable pprtunity disclse Name, physical- and pstal address and telephne number Legal capacity, whether independent r representing an Insurer r Brkerage Cncise details f relevant experience Insurance prducts that may be sld Insurers whse prducts may be marketed Indemnity cver held - Yes / N Sharehlding in Insurers if 10% r mre Names f Insurers frm which the Intermediary received 30% r mre f ttal cmmissin/remuneratin during the past calendar year. The Intermediary must be able t prduce prf f cntractual relatinship with and accreditatin by the Insurer cncerned. 2. Yur right t knw the impact f the decisin yu elect t make The Intermediary r Insurer dealing with yu, must infrm yu f the premium payable the nature and extent f benefits yu may receive If the benefits are linked t the perfrmance f certain assets hw much f the premium will g twards the benefit? t what prtfli will yur benefits be linked? The pssible impact f this purchase n yur finances The pssible impact f this purchase n yur ther plicies (affrdability) The pssible impact f this purchase n yur investment prtfli (affrdability) The flexibility f changes yu may make t the prpsed cntract The cntract terms f the prduct yu intend t purchase. It is very imprtant that yu are quite sure that the prduct r transactin meets with yur needs and that yu feel yu have all the infrmatin yu need t make a decisin. 3. Yur right when t be advised t replace an existing plicy. Yu may nt be advised t cancel a plicy t enable yu t purchase a new plicy r amend an existing plicy, unless The Intermediary identifies the plicy as a replacement plicy The implicatins f cancellatin f the plicy are disclsed t yu such as
7 the influence n yur benefits accrding t the previus plicy the additinal cst accrued with the replacement The Insurer which issued the riginal plicy will cntact yu, yu are advised t discuss the matter with its Representative 4. Yur right t be infrmed by the Insurer. The Insurer will present yu with dcumentatin regarding plicy particulars as discussed in paragraph 2 f this Ntice, which will als include The name f the Insurer The prduct being purchased The cst f the transactin and specifically the ladings, if any the initial expenses and the amunt f cmmissin and ther remuneratin payable by the Intermediary In the case f plicies with an investment element, the n-ging expense and any ther fees r charges payable 5. The summary in terms f Article 48 f the lng-term Insurance Act, The cntact number and address f the Cmplaints- and Cmpliance Officers f the Insurer. 7. The Insurer may disclse the abvementined infrmatin t yu n a general basis with additinal plicyhlder specific disclsure. 8. Yur right t cancel the transactin In the mst cases, yu have the right t cancel a plicy in writing 30 days after receipt f the summary cntemplated in Sectin 48 frm the Insurer. The same applies t certain changes yu may make t a plicy. The Insurer is bliged t cnfirm if yu have the right and t explain hw t exercise it. Please bear in mind that yu may nt exercise this right if yu have already claimed under the plicy r if the event, which the plicy insures yu against, has already tk place. If the plicy has an investment cmpnent, yu will carry any investment lss. 9. Imprtant Warning It is f the utmst imprtance that yu are sure that the prduct r transactin satisfies yu needs and that yu feel yu have all the infrmatin yu need befre making a decisin. It is recmmended that yu discuss with the Intermediary r Insurer the pssible impact f the prpsed transactin n yur finances, yur ther plicies r yur brader investment prtfli. Yu shuld als ask fr infrmatin abut the flexibility f any prpsed plicy. Where paper frms are required, it is advisable t sign them nly nce they are fully cmpleted. Feel free t make ntes regarding verbal infrmatin, and t ask fr written cnfirmatin r cpies f dcuments. Remember yu may cntact either the Ombudsman fr Lng-term Insurance r the Registrar f Lng-term Insurance, if yu experience any prblems regarding a prduct sld r advice given t yu.
8 Ombudsman fr Lng-term Insurance (Cmplaints against Insurer) Third Flr, (T) Sunclare Building, (F) Claremnt, Cape Twn, 7700 (E) Private Bag X45, Claremnt, Cape Twn, 7735 FAIS Ombudsman (Cmplaints against Intermediary) Telephne: Facsimile: Address: Eastwd Office Park, Babab Huse, Grund Flr, cnr. Lynnwd Rad & Jacbsn Drive, Lynnwd Ridge, 0081 r PO BOX 74571, Lynwd ridge, 0040 FINANCIAL SERVICES BOARD (Cmplaints abut any Insurance matter) P.O. Bx Menl Park 0102 TEL: (012) Physical Address: Pstal Address: 1st Flr, Grsvenr Crner, 195 Jan Smuts Avenue, Rsebank, 2196 P.O Bx 616, Jhannesburg 2000 (011) (011) (011) (011) Cape Twn Pstal Address Physical Address PO Bx th Flr, 80 strand Street, Cape Twn, 8000 Cape Twn, 8001 (021) (021) (021) (021)
Partners in Prtectin Obtaining disability insurance is an equally imprtant purchase fr a medical student r an MD. If yu frecast yur anticipated incme, yu likely have millins at risk. Yet the purchase f
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