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Interactive Trading 248 (Pty) Ltd. trading as Reg. No: 2002/001322/07 |
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FINANCIAL PREPARATION CONTRIBUTES TO A DIGNIFIED BURIAL / FUNERAL
WHY THE NEED FOR THIS BENEFIT:
The reality of death is inevitable and does not exclude Immigrants, Refugees, or their families.
We have identified, through research, that there is no secure financial benefit for the Immigrant/Refugee community nor structured support for their bereaved families in the event of a death.
Many do not prepare for this unforeseen reality or for the financial burden placed on their families in the event of a death. In our business we experience daily the importance of financial preparation in leading to a dignified burial/funeral.
Subscribing to this Immigrant/Refugee Funeral Benefit contributes to a dignified burial of a family member.
We have had numerous requests for this very Benefit from the Immigrant/Refugee community, which has culminated in the product we offer to you today.
SANFA (South African National Fund Administrators) has been administering Funeral Benefits since 1996, throughout South Africa, with great success, and our promise is to continue honouring all valid claims within 24 hours of receiving the correct documentation, thereby giving the Immigrant/Refugee community the security and peace of mind as far as funeral matters are concerned in the unfortunate event of a family member’s death. THE BENEFIT WE OFFER:Affordable premium that not only covers you alone but includes your immediate family as well, at no extra cost. It offers cover to each one of you!
Excellent cash benefits at the death of any member of your immediate family to provide for a dignified and proper burial/funeral.
Settlement of Funeral Benefit claims is guaranteed within 24 hours if all the required documents are provided.
Funeral benefits are paid directly to the policyholder, their dependants, or nominated beneficiary.
No proof of good health is required.
No age limit on the Funeral Benefit. The maximum age at entry is 64 (sixty four) next birthday.
No distinction is made between family and single person cover.
THE FUNERAL BENEFIT:
Defined Event:
The death of the policyholder and or his/her immediate dependants, after a waiting period of 6 (six) calendar months in the event of death by natural causes or 3(three) calendar months in the event of death by unnatural causes/accident.
The funeral benefits offered are illustrated in the following table:
TERMS & CONDITIONS:
This is a Family Funeral Benefit. Only Immigrants/ Refugees, or their families, who reside within the borders of South Africa and have a valid Section 24 Permit (Status); Section 22 Permit (Asylum Seeker Permit); Permanent Residence; Study Permit/Visa, are eligible for this Benefit.
Premiums are payable monthly and punctually in advance, between the 25th and 1st of the new month, in order to facilitate a 24 hour claim payment turnaround. Premiums are payable life long and there are no built in surrender values.
Cover will commence after 6 calendar months membership for death as a result of natural causes and after 3 calendar months in the case of accidental death. Accidental death is death caused solely by external, violent, and visible means and occurs independently of any other causes.
Cover ceases with non-payment of premiums after 1 calendar month.
Members re-applying after cover has ceased will be subject to a further 6 calendar month waiting period.
Cover under this Benefit will be limited to R 10 000 (Ten Thousand Rand) or the maximum cover that is allowed by law from time to time.
Only members and additional assureds admitted on the application form will be eligible for a claim. Correct ID/DHA Ref. Numbers are very important. The only additional assureds that may be added are newborn children and new spouses. Stillbirths are covered from the 26th week of gestation.
In the case of child cover, all dependent children will enjoy cover up to the age of 18. A full-time student will remain covered until age 25 (proof must be submitted from Educational Institute). Children who are permanently dependent by reason of mental, physical, or educational disability will be covered until death or the member ceases to be covered.
The only children that may be covered are the natural or legally adopted children of the member and spouse(s).
Dependants, regardless of age, who still qualify for cover under their parents’ policy, and who earn any form of income in their own right, are excluded as dependants and must be placed on their own individual policy.
Suicidal death will not be covered in the event of an occurrence in the first 24 months.
Death during or as a result of a member committing or being involved in the committing of or attempted committing of a criminal offence is not covered.
No benefit of any nature will be paid after the residential documents (e.g., Status, ID) of the member have become invalid or expired. It is therefore always the duty of the member to ensure that these documents are current and/or valid with the Department of Home Affairs (DHA).
SANFA reserves the right to adjust the premiums from time to time, subject to a 30-day notice period.
This Policy/Benefit is underwritten in terms of the Long Term Insurance Act 52 of 1998 and administered by Interactive Trading 248 (Pty) Ltd t/a SANFA. SANFA is a registered Representative of Prosperity Funeral Advisors (Pty) Ltd with FSP Number: 43735 in terms of the Financial Advisory and Intermediary Services Act 37 of 2002.
INCEPTION DATES:
Cover is offered in calendar months. Therefore cover can only start on the first of a month.
CANCELLATION OF COVER:
The policyholder may cancel his/her cover at any stage but must do so by giving a 30 (thirty) day written notice to SANFA or their Agents.
IMPORTANT NOTES:
Compliance Department: If you feel that the Agent/Intermediary or SANFA has in any way not complied with the Policy Protection Rules and/or the FIAS Act, please contact the SANFA Compliance Officer at (011) 568 0381, the Long Term Insurance Ombudsman at (021) 657 5000 or the Financial Services Board at (012) 428 8000. Replacement of Policies: Replacement of any Insurance is generally to the disadvantage of the policyholder as it involves duplication of initial costs charged to the Policy. The policyholder should be fully aware of the possible detrimental consequences of the replacement of an existing Insurance Policy. Cooling-off Period: A policyholder has the right to cancel a Policy within 30 days after signing the application form. Please notify the Service Office in writing and premium that has been paid will be refunded and your Policy will be cancelled. |
