GENERAL RULES OF OUR POLICIES
This is an individual policy and premiums are payable monthly in advance, on or before the 1st day of each month.
Members who are 18 years or older may participate in the scheme.
The waiting period for the scheme is 6 months for all new members.
The insured lives will be limited to those declared on the application form. Claims for spouses and/or dependants NOT declared on the application form will NOT be considered for payment in the event of death.
The Beneficiary details are very important. If the Main Member dies then the claim money can ONLY be paid to the person who is listed as the Beneficiary. So please keep this person up to date e.g. In the case of divorce, death of Beneficiary etc.
An application for membership, together with the relevant premium, which is received during a month, will, if accepted, only be admitted as a member of the scheme from the 1st day of the month following receipt of the application form and first premium. Cover will only commence after the stipulated waiting period has expired.
Members who are not legally married but who are living together as a family can still enjoy family benefits provided that all relevant particulars are declared on the application form.
Unmarried natural children under the age of 21 years are covered. Cover is extended up to, and including age 25 if the child is an unmarried full time student.
There is no waiting period for a dependant/extended child who turns 21 and must take out their own policy.
Should a member die as a result of an accident, no waiting period will apply provided that the first premium has been received.
If a members’ cover should cease and the member applies to re-join the scheme at a later stage, the conditions for new membership will apply.
Cover under the scheme is provided for on a month-to-month basis. No reserves are built up under the scheme, therefore premiums are payable lifelong and there are no surrender values when cover ceases.
If a member increases his/her cover under the scheme, the increased cover amount will be subject to 6 months waiting period, during which time the old cover amount remains in place. Cover can only be increased within the members current age category, not their joining age category.
Membership for new applicants will be restricted to a maximum entry age of 85 years (next birthday) at commencement.
Only claims submitted within six (6) months of the date of the death will be considered for payment.
No claim will be honoured if premiums are in arrears or short paid as per the provisions of the Long-Term Insurance Act.
A twelve (12) calendar month waiting period will apply in the event of the death as a result of suicide.
No exclusions for dread diseases including HIV or HIV related illnesses.
The full terms and conditions of this policy are available from the Head Office of Groups R Us (PTY) Ltd.
This policy is issued on behalf of Groups R Us (PTY) Ltd.
If you have a complaint regarding the advice you were given, you can contact:
Long-Term Insurance Ombudsman
www.ombud.co.za
Email: info@ombud.co.za
Tel: 021 657 5000 & 0860 662 837
IF YOUR PREMIUMS ARE IN ARREARS BY 1 MONTH,
THEN BY THE 15TH DAY OF THE SECOND MONTH YOUR POLICY WILL BE CANCELLED