F2014 RISK ASSURANCE BENEFIT RANGE
RISK ASSURANCE BENEFIT RANGE
A comprehensive range of Risk Assurance Benefits, which offers the client best-of-breed product features, value-for-money and financial peace of mind for life’s eventualities
Financial Portfolio
Protection of Family & EstateWealth Creation
Funeral Plan Range Life Plan Range
Value+ Plan Standard Plan ADDP Pure Life Plan Life & Disability Plan
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F2014 RISK ASSURANCE BENEFIT RANGE
THE VALUE+ FUNERAL PLAN RANGE
Individual Funeral Plan
Family Funeral Plan
Parents Funeral Plan (maximum of four parents)
Extended Family Funeral Plan (maximum of eight relatives)
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F2014 RISK ASSURANCE BENEFIT RANGE
PRODUCT FEATURES AND BENEFITS
Minimum Premium: R70.00 per month
Maximum Cover: R50 000 (Individual, Family Funeral Plans)
R30 000 (Parents and Extended Funeral Plans) where the lives covered are additional spouse, son/daughter-in-law and own child)
R15 000 (Extended Funeral Plan - other relatives)
Premium Paying Term: Whole of life – until death, disablement
Benefit Increases: The Benefit increases will always be greater than the premium increase, in other words, cover gets cheaper over time
Premium Increases: Annually increasing premium at compound rate of 7.0%. Current rate but is subject to change in the future
Maximum Entry Ages: Policyholder: age 64 lbd
Other Lives: age 84 lbd
Waiting Periods: No waiting period applies for accidental death or disablement. 6 months for non-accidental causes and 12 months for non-accidental causes of disablement
Money Back Guarantee: If non-accidental death occurs in the first 6 months, a benefit equal to the amount of the monthly premiums received will be paid
Premium Holiday Benefit: The Premium Holiday allows for up to six premiums to be skipped, during the term of the policy. This benefit is available again to the client, on payment of the skipped premiums
Cash Back Benefit: Cash back of 5 months premiums’ after every 60 premiums paid
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F2014 RISK ASSURANCE BENEFIT RANGE
PRODUCT FEATURES AND BENEFITS
Double Accidental Death Cover: On accidental death, double the amount of cover is paid out, even if policy is in a paid-up status
Death or Disablement: Full paid-up Benefit at any time during the policy term, after 12 (policyholder) months. A reduced Paid-up Benefit is available if monthly premiums stop after 10 years.
Terminal Illness Benefit: Provides for an accelerated lump-sum payment (50% of the cover at that time) – even if policy is paid-up, after 10 years
Medical Underwriting: No automatic medical testing. Health questions apply.
Surrenders & Withdrawals: Funeral plans do not acquire surrender values and no part withdrawals are possible
Effective Date for Increases: Both premium and cover increases are effective on the 1st July each year (subject to policy being in force for at least 6 months).
Cessions: Funeral plans may not be ceded as security
Funeral Support Benefit: Transport of the deceased by road or air from anywhere in the world to a funeral home closest to the burial
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F2014 RISK ASSURANCE BENEFIT RANGE
Access to the following Family Support Services* from independent service providers:
24 HOUR FAMILY SUPPORT SERVICES
Health support*: Telephone access to health advisers for assistance with health queries.
Trauma, assault and HIV treatment*: Assistance and treatment following assault (e.g. rape, hijacking, child abuse), accidental exposure to HIV or other kinds of trauma.
Emergency medical response*: Advice, emergency treatment and transportation to an appropriate medical facility.
Legal support*: Free telephone advice and assistance on legal matters, help with legal documents.
Important note:*Family Support Services - Certain terms and conditions apply to the facilitation of this access. For a copy of these, call 0860 00 1919.Old Mutual facilitates access to independent Family Support Service providers. Such access is not offered as a benefit under your insurance policy and may be varied or cancelled at any time. The service providers provide services directly to you on terms agreed between you and the service providers. Old Mutual does not accept any liability arising from the services rendered by the service providers.
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F2014 RISK ASSURANCE BENEFIT RANGE
Full Paid-up Benefitafter 12 months
VALUE+ FUNERAL PLAN RANGE
6 month 5 years 10 years 15 years
R5 k
R7.5 k
R10 k
R15 k
R20 k
R25 k
R30 k
Cover gets cheaperover time
Money-back Guaranteein waiting period
Double Accidental Death Benefit
Cash-back of 5 months premiums after every 60 premiums
Reduced paid-up benefit evenif premiums cease after 10 years
Terminal Illness Benefit provides for accelerated lump-sum payment
6 premium skipsat any time
Wait
ing p
eri
od 6
month
s fo
r non-a
ccid
enta
l death
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F2014 RISK ASSURANCE BENEFIT RANGE
THE VALUE+ FUNERAL PLAN RANGE
Individual Funeral Plan
Family Funeral Plan
Parents Funeral Plan (maximum of four parents)
Extended Family Funeral Plan (maximum of eight relatives)
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F2014 RISK ASSURANCE BENEFIT RANGE
PRODUCT FEATURES AND BENEFITS
Minimum Premium: R50.00 per month
Maximum Cover: R20 000 (Individual, Family, Parents Funeral Plans)
R15 000 (Extended Funeral Plan) R20 000 (for add. spouse, son/daughter-in-law and own child)
Premium Paying Term: Whole of life – until death
Benefit Increases: Annually increasing at 5.0%, but can vary. The cover increase will be equal to the premium increase
Premium Increases: Annually increasing premium at compound rate of 5.0%
Maximum Entry Ages: Policyholder: age 65 lbd
Other Lives: age 84 lbd
Waiting Periods: No waiting period applies for accidental death. 6 months for non-accidental causes
Money Back Guarantee: If non-accidental death occurs in the first 6 months, a Benefit equal to the amount of the monthly premiums received will be paid
Premium Holiday Benefit: The Premium Holiday allows for up to six premiums to be skipped, during the term of the policy. This benefit is available again to the client, on payment of the skipped premiums
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F2014 RISK ASSURANCE BENEFIT RANGE
PRODUCT FEATURES AND BENEFITS
Cash Back Benefit: Cash back of 3 months’ premiums after every 60 premiums paid
Medical Underwriting: No automatic medical testing. Health questions apply
Surrenders & Withdrawals: Funeral plans do not acquire surrender values and no part withdrawals are possible
Effective Date for Increases: Both premium and cover increases are effective on the 1st July each year (Subject to policy being in force for at least 6 months)
Cessions: Funeral plans may not be ceded as security
Funeral Support Benefit: Transport of the deceased by road or air from anywhere in the world to a funeral home closest to the burial
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F2014 RISK ASSURANCE BENEFIT RANGE
Access to the following Family Support Services* from independent service providers:
24 HOUR FAMILY SUPPORT SERVICES
Health support*: Telephone access to health advisers for assistance with health queries.
Trauma, assault and HIV treatment*: Assistance and treatment following assault (e.g. rape, hijacking, child abuse), accidental exposure to HIV or other kinds of trauma.
Emergency medical response*: Advice, emergency treatment and transportation to an appropriate medical facility.
Legal support*: Free telephone advice and assistance on legal matters, help with legal documents.
Important note:*Family Support Services - Certain terms and conditions apply to the facilitation of this access. For a copy of these, call 0860 00 1919.Old Mutual facilitates access to independent Family Support Service providers. Such access is not offered as a benefit under your insurance policy and may be varied or cancelled at any time. The service providers provide services directly to you on terms agreed between you and the service providers. Old Mutual does not accept any liability arising from the services rendered by the service providers.
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F2014 RISK ASSURANCE BENEFIT RANGE
VALUE+ FUNERAL PLAN RANGE
6 month 5 years 10 years 15 years
R5 k
R7.5 k
R10 k
R15 k
R20 k
R25 k
R30 k
Annually increasingat 5%, but can vary
Money-back Guaranteein waiting period
Cash-back of 3 months premiums after every 60 premiums6 premium skipsat any time
Wait
ing p
eri
od 6
month
s fo
r non-a
ccid
enta
l death
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F2014 RISK ASSURANCE BENEFIT RANGE
THE LIFE PLAN RANGE
Pure Life Plan To provide your family with money and help them cope financially should you die.
Life and Disability Plan To help you financially should you become disabled or to provide your family with money on your death.
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F2014 RISK ASSURANCE BENEFIT RANGE
PURE LIFE PLAN - PRODUCT FEATURES AND BENEFITS
Minimum Cover: R50 000
Maximum Cover: R500 000
Maximum Entry Age: 60 lbd
Plan Type: Whole life
Cover Increases: Cover increases annually at 5%
Premium Increases: Premiums increase annually, initially targeting 5% (not guaranteed)
Lives Covered: Cover for the policyholder only, who also needs to be the premium payer. A spouse may pay the premiums on the policyholder’s life
HIV+ diagnosed individuals qualify for cover
Waiting Periods: Immediate accidental death BenefitStaggered non-accidental death over 12 months
0 - 6 months: Benefit equal to premiums received7 - 12 months: 50% of cover amount12+ months: 100% cover amount
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F2014 RISK ASSURANCE BENEFIT RANGE
Income Assistance Benefit: 10% of Benefit paid in 48 hours, subject to waiting period
Funeral Support Benefit: Transport of the deceased by road or air from anywhere in the world to a funeral home closest to the place of burial
Medical Underwriting: No medical testing. Standard health questions apply
Cover Ceases: When premiums cease or on death
Money Back Guarantee: Equal to the total premiums paid, if non-accidental death occurs within the first 6 months
Premium Holiday Benefit: Allows for up to six premiums to be skipped during the term of the policy. This benefit is available again to the client, on payment of the skipped premiums
Terminal Illness Benefit: On diagnosis of Terminal Illness, 50% of cover paid out immediately, remainder paid on death (available after 5 years)
PURE LIFE PLAN - PRODUCT FEATURES AND BENEFITS
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F2014 RISK ASSURANCE BENEFIT RANGE
PURE LIFE PLAN
R50 k
R100 k
R150 k
R200 k
R300 k
R400 k
6 premium skipsat any time
6 mnths 5 years 10 years 15 years
R500k
24 mnths
StaggeredWaitingPeriod
Up to R500 000Life Cover
Immediate AccidentalDeath Benefit
On diagnosis of Terminal Illness, 50% of cover paid out immediately, remainder paid on death
Money-back Guaranteein first 6 months
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F2014 RISK ASSURANCE BENEFIT RANGE
LIFE & DISABILITY PLAN - PRODUCT FEATURES AND BENEFITS
Minimum Cover: R50 000
Maximum Cover: R500 000
Plan Type: Whole life
Cover Increases: Cover increases annually at 5%
Premium Increases: Premiums increase annually, initially targeting 5% (not guaranteed)
Maximum Entry Age: 60 lbd
Lives Covered: Policyholder only
Waiting Periods: Immediate accidental death/disability Benefit
Staggered non-accidental death/disability over 12 months
0 - 6 months: Benefit equal to premiums received7 - 12 months: 50% of cover amount12+ months: 100% cover amount
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F2014 RISK ASSURANCE BENEFIT RANGE
LIFE & DISABILITY PLAN - PRODUCT FEATURES AND BENEFITS
Cover Ceases: When premiums cease or on death/disability
Money Back Guarantee: Equal to the total premiums paid, if non-accidental death/disability occurs within the first 6 months
Premium Holiday Benefit: Allows for up to six premiums to be skipped during the term of the policy. This benefit is available again to the client, on payment of the skipped premiums
Terminal Illness Benefit: On diagnosis of Terminal Illness, 50% of cover paid out immediately, remainder paid on death/disability (available after 5 years)
Income Assistance Benefit: 10% of Benefit paid in 48 hours, subject to waiting period
Funeral Support Benefit: Transport of the deceased by road or air from anywhere in the world to a funeral home closest to the place of burial
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F2014 RISK ASSURANCE BENEFIT RANGE
LIFE & DISABILITY PLAN - PRODUCT FEATURES AND BENEFITS
Medical Underwriting: No medical testing. Standard health questions apply
Deferred Period: Payment of disability claims may be subject to a 6-month deferred period, to allow for investigations into validity and permanence, that is the disability should have lasted continuously for 6 months. This may be waived if insured has permanent/irreversible loss. Policyholder may exercise the Premium Holiday option during this period (if it’s available)
Exclusions: The disability exclusions are:- Injury or sickness in respect of which the insured received medical
treatment during the three-year period prior to the date he/she became covered for disability benefits and as a result of which he/she became disabled within the three-year period after the date of commencement of his/her participation in the disability benefits- Disability due to self-inflicted actions (incl. attempted suicide) - Deliberate exposure to exceptional danger- War or armed conflict (whether it is declared or not), civil unrest and social revolt- Disability as a result of refusing medical treatment by a registered
medical doctor- Disability as a result of being affected by alcohol or drugs- Disability due to radio activity or nuclear explosion
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F2014 RISK ASSURANCE BENEFIT RANGE
Access to the following Family Support Services* from independent service providers:
24 HOUR FAMILY SUPPORT SERVICES
Health support*: Telephone access to health advisers for assistance with health queries.
Trauma, assault and HIV treatment*: Assistance and treatment following assault (e.g. rape, hijacking, child abuse), accidental exposure to HIV or other kinds of trauma.
Emergency medical response*: Advice, emergency treatment and transportation to an appropriate medical facility.
Legal support*: Free telephone advice and assistance on legal matters, help with legal documents.
Important note:*Family Support Services - Certain terms and conditions apply to the facilitation of this access. For a copy of these, call 0860 00 1919.Old Mutual facilitates access to independent Family Support Service providers. Such access is not offered as a benefit under your insurance policy and may be varied or cancelled at any time. The service providers provide services directly to you on terms agreed between you and the service providers. Old Mutual does not accept any liability arising from the services rendered by the service providers.
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F2014 RISK ASSURANCE BENEFIT RANGE
LIFE & DISABILITY PLAN
R50 k
R100 k
R150 k
R200 k
R300 k
R400 k
6 premium skipsat any time
6 mnths 5 years 10 years 15 years
R500k
24 mnths
StaggeredWaitingPeriod
Up to R500 000Life & Disability Cover
Immediate AccidentalDeath/Disability Benefit
On diagnosis of Terminal Illness, 50% of cover paid out immediately, remainder paid on death/disability
Money-back Guaranteein first 6 months
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F2014 RISK ASSURANCE BENEFIT RANGE
PRODUCT FEATURES AND BENEFITS
Minimum Cover: R50 000
Maximum Cover: R250 000
Plan Type: Whole life
Cover Increases: Cover increases annually at 5%
Premium Increases: Premiums increase annually, initially targeting 5% (not guaranteed)
Maximum Entry Age: 60 lbd
Lives Covered: Policyholder only, who also needs to be the premium payer. A spouse may pay the premiums on the policyholder’s life
HIV+ diagnosed individuals qualify for cover
Death or Disablement: On Accidental Death or Disability: Full cover paid from application date
On Non-Accidental Death or Disability: Money Back Guarantee
Paid-up Benefits: No paid-up Benefits are available. Premiums must continue for cover to continue
Money Back Guarantee: Equal to the total premiums received, on non-accidental death or disability throughout lifetime of policy to a maximum of current cover
Premium Holiday Benefit: Allows for up to six premiums to be skipped during the term of the policy. This benefit is available again to the client, on payment of the skipped premiums
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F2014 RISK ASSURANCE BENEFIT RANGE
PRODUCT FEATURES AND BENEFITS
Cash Back Benefit: Cash back of 5 months’ premiums after every 60 premiums paid
Funeral Support Benefit: Transport of the deceased by road or air from anywhere in the world to a funeral home closest to the place of burial
Deferred Period: Payment of disability claims may be subject to a 6-month deferred period, to allow for investigations into validity and permanence, that is the disability should have lasted continuously for 6 months. This may be waived if insured has permanent/irreversible loss. Policyholder may exercise the Premium Holiday option during this period (if it’s available)
Recognition of Disability: Disability will be recognised in the event of the total & permanent loss of the use of at least one hand or foot and/or loss of the sight in one eye due to an accident, or total and permanent loss of the use of both hands/feet or one of each due to sickness. While you are permanently employed as a teacher, have suffered demonstrable physical damage to your vocal cords and are prevented from speaking to a degree that you are unable to work as a teacher, or while you are permanently employed as a court interpreter, have suffered demonstrable damage to your vocal cords or lose your hearing to a degree that you are unable to work as a court interpreter
Disability Exclusions: Due to self-inflicted actions (attempted suicide), deliberate exposure to exceptional danger (except in attempt to save human life), own criminal act, being affected by alcohol or drugs (not prescribed by registered medical practitioner)
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F2014 RISK ASSURANCE BENEFIT RANGE
Access to the following Family Support Services* from independent service providers:
24 HOUR FAMILY SUPPORT SERVICES
Important note:*Family Support Services - Certain terms and conditions apply to the facilitation of this access. For a copy of these, call 0860 00 1919.Old Mutual facilitates access to independent Family Support Service providers. Such access is not offered as a benefit under your insurance policy and may be varied or cancelled at any time. The service providers provide services directly to you on terms agreed between you and the service providers. Old Mutual does not accept any liability arising from the services rendered by the service providers.
Health support*: Telephone access to health advisers for assistance with health queries.
Trauma, assault and HIV treatment*: Assistance and treatment following assault (e.g. rape, hijacking, child abuse), accidental exposure to HIV or other kinds of trauma.
Emergency medical response*: Advice, emergency treatment and transportation to an appropriate medical facility.
Legal support*: Free telephone advice and assistance on legal matters, help with legal documents.
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F2014 RISK ASSURANCE BENEFIT RANGE
ACCIDENTAL DEATH & DISABILITY PLAN
6 months 5 years 10 years 15 years
R30 k
R40 k
R50 k
R75 k
R100 k
R125 k
R150k
Cash-back every 5 years6 premium skipsat any time
Up to R250 000Acc. Death/Disab. Benefit
On accidental death/disability, immediate coverOn non-accidental Death/Disability, cover equal to amount of premiums received
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