Principal Member +5
PM + 5 Cover premiums
| Cover Amount | Up to age 64 | Up to age 84 | Up to age 120 |
|---|---|---|---|
| R 10 000 | R 144.00 | R 221.00 | R 265.00 |
| R 15 000 | R 177.00 | R 265.00 | R 299.00 |
| R 20 000 | R 210.00 | R 299.00 | R 331.00 |
| R 25 000 | R 249.00 | R 331.00 | R 375.00 |
| R 30 000 | R 287.00 | R 397.00 | R 441.00 |
| R 40 000 | R 420.00 | R 597.00 | R 662.00 |
| R 50 000 | R 497.00 | R 696.00 | R 772.00 |
| R 60 000 | R 604.00 | R 851.00 | R 956.00 |
| R 70 000 | R 678.00 | R 945.00 | R 1061.00 |
| R 80 000 | R 809.00 | R 1134.00 | R 1281.00 |
Cover Options
The Scheme has the following categories of cover:
Cover for the policyholder.
Cover for the policyholder’s spouse.
Cover for the policyholder’s children.
Cover for the policyholder’s extended family members.
Eligibility on Becoming a Policyholder
Must meet the Age limits set out in the policy.
Must select the option cover that is applicable to him or her.
Policyholder may change cover level subject to a waiting period.
Policyholder must provide relevant documentation upon application (e.g. Birth Certificate, ID, and Marriage Certificate).
Waiting Periods
Natural Death: After 6 months.
Accidental Death: After joining and paying the first premium.
Suicide: 12 months.
Lapse Period
Reinstatement of cover is allowed within 30 days after 3 missed premiums.
Grace Period
The period allowed for the payment of an outstanding premium(s).
Grace period is 3 months from the date of your missed premiums.
Continuation Option
Within 3 months after the policyholder’s death, any adult dependent or spouse can continue the policy.
Product Rules
When does the cover start? After receipt of the first premium for Accidental Death and receipt of 6 first premiums for Natural Cause. 12 premiums for Suicide.
When does cover cease? At death of the policyholder provided there is no replacement or at expiry of the grace period.
Can policyholders switch between products? YES. Old policy is cancelled and new plan activated with a new waiting period for any additional members.
Can policyholders amend their current product (e.g. increase cover level)? YES, they can increase cover, but a new waiting period applies for the increased amount.
