Every life has the same cover. Payout by age: 14 years and older 100%, 6–13 years 50%, 1–5 years 25%, stillborn to 11 months 12.5%. Children under 6 are limited to R20 000.
4 Payment
Debit order
Pay@ / EFT / cash deposit
Total premium:
Deduction date:
1 7 15 25 30
Other ______
5 Debit order mandate
Account holder
Account holder's ID / passport
Account holder's phone
Bank
Account number
Account type
I authorise Structured Risk to debit my bank account with the amount above on my salary credit date, or another suitable date, starting on the selected date and every month after that. My salary date may change, and I authorise premium requests to follow it, including any premium increases.
Account holder's signature
Date
6 Beneficiary
Name
Surname
Contact number
7 Declaration
I understand and accept the terms and conditions of this policy on page 2. I consent to Rest Assured and the underwriter processing these personal details to issue and administer the policy.
This product is underwritten by SA African Insurance (Safrican).
Premiums are payable monthly on or before the 1st of each month.
The main member must be between 18 and 65 years to join the scheme.
The insured lives are limited to those declared on the application form.
The oldest person determines the entry age.
Equal cover for the main member and nominated members. Children under 6 years have a maximum cover of R20 000, in line with the regulations.
Waiting periods
Membership can only commence on the 1st day of the month after receipt of the first premium.
If the first premium is received after the 1st day of the month, cover commences on the 1st of the following month.
Accidental death is covered immediately from the commencement date, once the first premium is paid. Point 2 applies.
A six (6) month waiting period applies to new members for death from natural causes.
A twenty-four (24) month waiting period applies to suicide.
Existing members with more than six (6) months' continued cover under another scheme get immediate cover on receipt of the first premium. Proof is required if a death occurs in the first three (3) months from inception.
Members still within a waiting period imposed by a previous insurer serve out the balance of that period with Rest Assured Plan before their cover commences.
Claims options
You can claim cash, or exchange the cash for discounted repatriation services to Zimbabwe, Botswana, Malawi, Mozambique, Zambia, Tanzania and the DRC.
Termination of policy
The policyholder may end the policy with one (1) month's written notice to the insurer.
If the policyholder does not meet the obligations of the master policy and schedule, the policy lapses.
The insurer may end its association with the policyholder with one (1) month's written notice.
Cover for the policyholder and dependants ends if the policyholder withdraws for any reason, or if premiums are not paid.
Payment of premiums
Premiums are payable to the insurer by the policyholder at the rate specified in the schedule.
Payments are made from the commencement date to the date this policy ends. If the insured event occurs before the waiting period is complete, the insurer has no liability, unless it is satisfied that an insurable risk existed and that premiums were in good standing before the event. The insurer's decision is final.
Cover is provided month to month. No reserves are built up, so there is no surrender value when cover ends.
Premiums are not guaranteed and may be adjusted by the insurer at any stage.
New members are restricted to a maximum entry age of sixty-five (65) next birthday at commencement.
Only claims submitted within six (6) months of the date of death are considered for payment.
No claim is honoured if premiums are in arrears or short paid.
Safrican allows a 30-day grace period for outstanding premiums, with no late payment fees.
No claim for grandchildren or foster children is considered unless proof of legal adoption is supplied.
If the policyholder dies, ownership may be switched to the surviving spouse, who then pays the premium. This does not happen automatically: the spouse must notify the insurer of the change.
Beneficiary of the benefit
The benefit the underwriter pays to Rest Assured is always a rand value, whatever the description of the plan's benefits.
If the main member dies and the benefit is paid in cash, the beneficiary is the person nominated on page 1 of this form.
Payout for children
14 years and older
100%
6 – 13 years
50%
1 – 5 years
25%
Stillborn to 11 months
12.5%
Percentages are of the main member's cover. Stillborn means the death of a baby after 28 weeks of pregnancy.
I have read and understand these terms and conditions.
Main member's initials
Signature
Date
Rest Assured Plan is a licensed Financial Services Provider, FSP 50902 · Page 2 of 2
