why? this is how GREENLIGHT sees it DEATH BENEFIT LIFE COVER

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1 LIFE COVER DEATH BENEFIT why? To provide an income and financial security for the client s family when the client no longer can. Proceeds can be used to repay debt, any outstanding bonds, estate duty and other costs when the client passes away. how GREENLIGHT Death Benefit pays a lump sum in the event of death of the Life Covered. It s a stand-alone lump sum benefit that pays out 100% no excuses! this is how GREENLIGHT sees it You may think life cover, is life cover, is life cover, but GREENLIGHT offers some great features which set it apart from the competitors: Underwriting credit more cover is available within the first 12 months with no extra medical tests. A Terminal Illness Benefit built in paying 100% of cover. Scheduled Annual Cover Increases can be linked to a foreign exchange rate which have a South African CPI underpin. A Life Covered can enable family members access to cover with little/no underwriting. Other important features that GREENLIGHT offers on all benefits: Full cover before first premium paid! A range of options for an initial premium level. Competitive and robust premium rates, Priced For Life.

2 DEATH BENEFIT Underwriting Credit (UWC) more cover with no medical tests Underwriting Credit (UWC) allows clients who have an existing Death Benefit, to increase their cover by taking out a new Death Benefit within a year of the original cover having been underwritten. No medical underwriting will be requested, including no HIV test. Only an Underwriting Credit Declaration of Health (UWC DoH) is required. Where deemed necessary, additional financial evidence might be requested. Only fully underwritten, standard (i.e. non-loaded) lives, where no exclusions have been imposed, qualify for an UWC. Cover is limited to the lesser of: Cover on the Death Benefit that provided the UWC. The difference between the top of the underwriting band (at the time of writing the Death Benefit) and the cover on the Death Benefit that provided the UWC. R2.5 million. The minimum UWC that will be created will be R The UWC must be exercised within 12 months of the Underwriting Acceptance Date on the Death Benefit that provided the UWC. The Life Covered on the UWC benefit must be the same as the Life Covered on the benefit that provided the UWC. The Contracting Party and Beneficiaries do not have to be the same as on the underlying benefit. R1m R700k Death Benefit Jan 09 May 09 Nov 09 Dec 09 OMMS T1266 Death Benefit UWC1 R300k Death Benefit UWC1 UWC2 In January 2009, Jane took out a fully underwritten Death Benefit with cover of R1m. She qualifies for R1m Underwriting Credit. She then decided that she needed more cover, so in May 2009, she used her Underwriting Credit to take out another Death Benefit with cover of R In November of the same year, Jane took out another Death Benefit using the remaining Underwriting credit of R with no extra medical testing. Terminal Illness Benefit paying 100% of cover If the Life Covered is diagnosed with a medical condition which, according to Old Mutual s Chief Medical Officer, will result in death within 12 months, the Contracting Party may request the payment of a Terminal Illness Benefit. The amount of the Terminal Illness Benefit is the full Cover Amount of the Death Benefit, payment of which will result in the Death Benefit ceasing. It is not available in the last year of a term benefit. Life Covered can enable family access to cover with little/no underwriting. Any Life Covered of a GREENLIGHT Death Benefit is automatically a Sponsor. A Sponsor is someone who can take out one or more of the GREENLIGHT Final Expense Family Benefits for family members partner, children and extended family.

3 ACCIDENTAL DEATH BENEFIT why? To cover clients who are medically uninsurable. To provide protection against death resulting from accidents, crime and violence. To provide protection for clients who are at a high risk of accidents e.g. where a lot of travelling is required. how The GREENLIGHT Accidental Death Benefit a stand-alone lump sum benefit that pays out if clients die as a result of an accident. An accident is an external, unexpected event that is not traceable, even indirectly, to the Life Covered s state of mental or physical health before the event. this is how GREENLIGHT sees it Our definition of accidental death is broad and comprehensive. This is important since road accidents remain a key risk in South Africa and are covered. Other great features are: No time limits exist between the accident and death A few exclusions apply and they are well defined No medical and HIV testing is required. This benefit provides cover for a wide range of risks not relating to a person s health. You can get maximum cover of R2 million to the age of 65. Payout promises that can be relied on Because the definition of accident is so clearly defined, and because the exclusions are so clearly laid out, payout promises can be relied on. 23% of GREENLIGHT s total death claims are as a result of accidents and a further 7% are as a result of murder (GREENLIGHT claims stats 2009). 72.9% of accidental deaths are because of a motor vehicle accident.

4 ACCIDENTAL DEATH BENEFIT Causes of Accidental Death Claims Motor vehicle accident 72.9% Crime and violence 13.6% Shot 3.2% Other 8.5% Drowning 1.0% Gassed 0.2% Accidental poisoning 0.2% Machinery accident 0.2% Railway accident 0.2% No time limitation between accident and death Provided the death was as a result of an accident, the claim will be paid no matter the time between the accident and the death. Example: The Life Covered was involved in a car accident and ended up in a coma. 3 years later, the Life Covered died due to complications resulting from the coma. The Accidental Death Benefit will pay out the full Cover Amount because the death was as a result of the car accident. accident 3 years hospitalised with coma death Exclusions are clearly defined In addition to the standard exclusions, the following activities are excluded from the Accidental Death Benefit: Extreme climbing (soloing) Ice climbing Extreme altitude climbing above 6 000m Cave diving Internal exploration of wrecks Diving at depths greater than 30m Motorised racing (speed contests) Boxing (including kick boxing) Base jumping Sky surfing Aerobatic flying Parasailing (land) Employment as a mine-blaster OMMS T1266

5 FINAL EXPENSES BENEFIT why? Instant cash on the death of the client to provide cover for: A dignified funeral. Ready cash if the client s estate is inaccessible capital to tide the family over. Repayment of credit card and short-term debts. Finances which can be used for family members travelling from abroad. how GREENLIGHT Final Expenses Benefit pays a lump sum in the event of death of the Life Covered. It s a stand-alone lump sum benefit that pays out 100% AND aims for payment within 48 hours of all requirements being met. this is how GREENLIGHT sees it Your family needs good liquidity that is structured separately from other benefits yet within your GREENLIGHT plan, giving you maximum protection and flexibility. Other great features are: Quick cash within 48 hours of requirements being met. Generous cover maximum Cover Amount R Stand-alone protection leaves other risk cover untouched at claim stage. A Life Covered can enable family access to cover with little/no underwriting. Flexibility the beneficiary can choose how to spend the payout.

6 FINAL EXPENSES BENEFIT Quick cash within 48 hours of requirements being met Old Mutual aims to pay within 48 hours of claims requirements having been met. We recognise that funerals are often required to be held soon after death. Generous cover maximum cover amount R A dignified funeral is accommodated, as well as generous provision for other costs. Stand-alone protection leaves other risk cover untouched at claim This is a stand-alone benefit. A claim on this benefit will not affect other risk benefits that the Life Covered may have taken out to protect his/her family. Life Covered can enable family access to cover with little/no underwriting Any Life Covered of a GREENLIGHT Death Benefit or a Final Expense Benefit is automatically a Sponsor. The Sponsor can take out one or more of the GREENLIGHT Final Expense Family Benefits for family members partner, children and extended family. OMMS T1266

7 FAMILY FINAL EXPENSES BENEFITS FINAL EXPENSES (The Sponsor s Partner) BENEFIT FINAL EXPENSES (Child) BENEFIT FINAL EXPENSES (Nominated Child) BENEFIT FINAL EXPENSES (Extended Family) BENEFIT why? Instant cash on the death of family members to provide cover for: A dignified funeral. Ready cash to tide the family over while the estate is inaccessible. Repayment of credit card and short-term debts. Finances which can be used for family members travelling from abroad. how GREENLIGHT Final Expenses Family Benefits pay a lump sum in the event of death of the Life Covered. They are stand-alone lump sum benefits that pay out 100% AND aim for payment within 48 hours of all requirements being met. this is how GREENLIGHT sees it We know that a funeral needs to happen as soon as arrangements can be made. This is why Old Mutual aims to pay within 48 hours of the claims requirements having been met. As the sponsor, you have done all the medical tests to be underwritten, that s why the family can get cover for a lot less than those who had not been underwritten. There is also an extra, by adding as little as R50 pm for a Savings Benefit you will have sufficient provision for other costs to use as you need it. Some of the great features are: Little/no underwriting NO HIV testing required. LOW, LOW price. You can preserve the family s cover on disability/ death of the Sponsor. Cover the WHOLE family and more. Stand-alone protection leaves other cover untouched at claim stage. Generous cover easily accessible through a Sponsor. Continuous cover provided for children.

8 FAMILY FINAL EXPENSES BENEFITS Little/no underwriting NO HIV testing required Final Expenses (Partner) Benefit the Partner must answer underwriting questions. Final Expenses (Child) Benefit & Final Expenses (Nominated Child) Benefit the Sponsor must answer underwriting questions on behalf of the Child or Nominated Child. Final Expenses (Extended Family) Benefit NO medical underwriting applies to the Extended Family members. NO MEDICAL TESTING is required for any of these benefits. Preserve the family s cover on disability/death of the Sponsor Each benefit is a stand-alone benefit but if the Sponsor is the premium payer for all of them, use the Premium Protection (Death) and Premium Protection (Disability) Benefits to preserve the family s cover should the Sponsor die or become disabled. Cover for the WHOLE family and more Any Life Covered under a GREENLIGHT Death Benefit or a Final Expense Benefit is automatically a Sponsor. The Sponsor can take out one or more of the GREENLIGHT Final Expenses Family Benefits for family members partner, children and extended family. The Sponsor s Partner person in a marriagelike relationship with the Sponsor (same sex or heterosexual). Child. Nominated Child child living with and dependent on the Sponsor. Extended Family a wide range of relationships are eligible. - Mother/father or mother-/father-in-law. - Aunt/uncle. - Brother/sister or brother-/sister-in-law. - Son/daughter or son-/daughter-in-law. - Grandfather/-mother. - Grandson/-daughter. - Stepfather/-mother. - Stepson/-daughter. - Niece/Nephew. Stand-alone protection leaves other cover untouched at claim stage Each benefit is a stand-alone benefit. A claim on a benefit does not affect other risk cover in the GREENLIGHT plan. Continuous cover for children Apply for an Extended Family benefit 3 months before Child or Nominated Child benefits cease for the same Cover Amount, without further underwriting. SPONSOR One Partner Biological Children Nominated Children Extended Family P B B B N N E E Medical questions only by partner Max 1 at a time per Sponsor R5k - R30k cover Entry ages next birthday Whole Life/Term Cover Medical questions only by Sponsor Unlimited biological/legally adopted children by Sponsor R5k - R30k cover Entry ages 1-18 next birthday. Ceases at age 25 next birthday Continuous Cover available Medical questions only by Sponsor Max 2 nominated children by Sponsor R5k - R30k cover Entry ages 1-18 next birthday. Ceases at age 25 next birthday Continuous Cover available No Medical questions Max 4 ever per Sponsor R5k - R15k cover Entry ages next birthday Whole Life/Term Cover 1 year accident only waiting OMMS T1266