Funeral Cover Terms and Conditions

1. Group commencement date 2017.
2. The group scheme will be administered on a 100% claims ratio.
3. Cover is provided on a month to month basis, no reserves are built up under the group scheme.
4. Premiums are payable by the 5th of the month and are payable monthly.
5. Participation is open to any healthy person from the age of 18 years up to 64 years.
6. A family cover will be – main member, 1 spouse and a maximum of 6 children.
7. A single cover will be – main member only.
8. No medical examination is required.
9. All new members will be registered from the 1st of the current month.
10. The following waiting periods are applicable:
• Suicide – a 24 month waiting period is applicable if a person dies as result of suicide.
• New members – Mandatory 3 month waiting period is applicable upon activation of new policy.
11. Children are covered as follows:
• an unmarried child under the age of 21 years
•  an unmarried child under the age of 26 and a full time student at a recognised education institution.
• this includes a posthumous child, stepchild, child of any common law spouse
• of the Policyholder, illegitimate or legally adopted child, providing that proof of any child is submitted to the insurer and acceptance acknowledged by the Insurer.
• a disabled child who does not receive a grant and is dependent on their parents.
12. A claim monetary benefit will not be offset against a particular months risk premium.
13. Payment of claim benefits will not paid to the Group Scheme prior to receipt of the applicable monthly risk premium.
14. Claims will be paid within 8 hours subject to receipt of required Claims documents.
15. All claim amounts payable by the Insurer/Administrator will be paid to the Group Scheme(NAME) and/ or nominated beneficiary.
16. The calculation of the claim benefits:
• Main member and spouse 100%
•  Child aged 14 – 21 years, 100%
• Child aged 8 – 15 years, 50%
• Child aged 3 months, 25%

Ikhwezi Marketing Services reserves the right to amend the risk rates within 30 days based on the claims ratio analysis of the group scheme. You are entitled to the 1st years premiums paid back to you, after 5 claim free years.