Deferred Life
What Is It?
A benefit that pays out should the life insured die due to natural or accidental causes.
Cover Amount
R250 000 up to R4 million A Final Expenses benefit is automatically
Who Can Apply?
Ages 19 to 70 at next birthday. Individuals or multiple people
When Can You Claim?
- The premium is guaranteed for 5 years.
- No reinstatements are allowed.
- The cover has an embedded Final Expenses 1 benefit for each life insured which pays R20 000 for the spouse and R10 000 for a maximum of 4 children.
- Each life insured’s Final Expense benefit amount is accelerated from the death benefit amount.
- Not available if there is no valid life cover benefit claim.
- Cover for the spouse and children for the first 12 months are as a result of accidental causes only.
- Cover for the nominated spouse ceases before their 65th birthday.
- Cover for a nominated child ends before their 25th birthday.
- No payment will be made where the 1 life insured, and the policyholder are 1 different people or institutions or where there is a collateral cession against the policy.
- A negative HIV test is to be submitted before this policy can be issued.
Exclusion
No benefit is payable if the policyholder dies as a result of their own deliberate actions and in our opinion committed suicide or dies as a result of assisted suicide within two years of the benefit commencement date.