TERMS AND CONDITIONS
Policy Terms and Conditions applicable to this policy
- Please note that all persons insured under the policy must be related to the principal member and/ or policy payer, and the principal member and /or policy payer must have an insurable interest in all insured persons under the policy.
- The main member and the spouse must be between 18 and 65 years of age to join the scheme.
- Cover will be provided for a maximum of 6 children at the stated premium.
- “Cover amount” Funeral cover amounts – R 5 000 to R 30 000.
- “Common Law Spouse” shall mean a person who is a Spouse and shall include, where applicable, customary marriages or a relationship between two people of the same gender, or a relationship between two people after a continuous cohabitation period of at least 6 (six) months. Only one spouse per main member
- Eligible Child” shall mean an unmarried child younger than 21 (twenty one) years of the Principle Member, including a step child, a legally adopted child. The age of 21 years is extended to age 25 if the child is still a fulltime student at a recognized institution or until the principle member ceases to qualify, whichever event occurs first. This does not include part time or correspondence students.
- Extended Family Member” Family members who may be covered are those who are dependent on the Principle Member for financial assistance towards funeral and related costs. This may include parents, parents-in-law, uncles, aunts, brothers, sisters, nieces, nephews, grandchildren and children of the Principle Member over the age of 21 years.
- If there are any changes to the marital status, or a newborn child, this must be notified to Asante Funeral in writing within 30 days of the event
- Policy lapse if two premiums missed and if reinstatement occur full waiting period as above apply.
- There are no surrender values under this Plan. Benefits under this Plan may not be ceded or pledged in any way. No loans are available under this Plan. No refund of premiums paid upon cancellation of lapse of a policy. 5. Cover under the scheme is provided for on a month to month basis.
- The policyholder is entitled to be provided, upon request, with a copy of the Policy.
- 6 months waiting period for natural death for members between 0 – 74 years.
- 12 months waiting period for natural death for members between 75-94 years.
- 24 months waiting period for suicide.
- Immediate cover for accidental death after receipt of the 1st premium.
- When taking up a higher benefit an appropriate waiting period will apply to the increased amount not the current benefit cover enjoyed.
- No claims to be paid if the premiums are in arrears or outstanding.
- Premiums must be paid on or before the 7th of each month through Cash or debit order.
- Premiums under the scheme are not guaranteed and can be adjusted by the insurer at any time. No reserves are built up under the scheme therefore premiums are payable life long and there are no surrender values when the cover cease.
- Should payments be missed and resumed the waiting period will again apply from the date of premium is resumed and received. When taking over existing affiliation schemes Asante Funeral will require the proof of membership for the waiting period to be waived, if not available then the full waiting period will apply.
Termination of policy
- If the client misses two premium payments the policy lapses and if reinstated a new 6 months waiting period starts.
- Should the spouse elect to take over the policy of an existing principal member due to the principal member had died, this must be done within 30 days of the death and application/nominations form and monthly membership schedule must be updated accordingly.
- Once the principal member’s cover ceases, the funeral benefit for spouses, children and extended family members ceases.
- If the principal member ceases to be a member of the funeral scheme (dies, withdraws or retires) cover will cease immediately for the principal member and all their dependants.
- Active participation in war, riot and civil commotion or terrorism.
- All claims related to atomic, biological and chemical warfare or terrorism.
- Suicide will be excluded for the first 24 month
- For extended family members, the commission of a crime, suicide, or self-inflicted injury and deliberate exposure to exceptional danger will not be covered during the first year of membership from the date of receipt of the first month’s premium.
Premiums are payable by the Policyholder monthly in advance and at the Premium Rate as specified in the Schedule. Premiums are paid in advance and should be received before or on the 7th of every month, premiums received after this date will be allocated to the following month.
After the first premium is paid, a Grace Period of 1 (one) month will be allowed for the payment of future premiums. The Plan will remain in force during the Grace Period. If the arrear premium and the premium due for that month is not paid by the end of the Grace period, the Plan will lapse and the 6 (six) month waiting period will apply on any reinstatement.
The policyholder has a 30 (thirty) day cooling off period from receipt of the policy to examine the policy. Provided that no death or claim has taken place in this period, should the policyholder not to take up the policy, she or he must inform MBT in writing of her or his intention not to accept. All premiums already paid shall be refunded, less the cost of any risk cover.
The policyholder, Asante Funeral or the underwriter reserves the right to cancel this Policy at any time after giving the other party 3 (three) months written notice of such intention, after the 30 day cooling off period has ended,
Should a Principal Member cease to be a member of an existing fund, of which he / she has been a member for at least 12 consecutive months, he / she has the option of applying for a similar individual funeral policy. This option must be exercised within 1 (one) month of ceasing to be a member prior to retirement age.
If any fraudulent claim is made against this Policy, Asante Funeral or the underwriter will be under no further obligation whatsoever to pay this claim, and shall, at its own discretion, be entitled to cancel the Policy with immediate effect without any refund of paid premiums.
Claims will only be paid to the beneficiary as indicated on the application form. Only claims submitted within 6 calendar months of the date of death will be considered for payment/No claim will be honored if the premiums are in arrears or short paid. In order to process a claim, the following certified (Marked *) documents is required/ Certified stamp must be over the information area of the document.
- Copy of application form.
- A clear copy of the main member’s I.D. *
- A clear copy of the deceased I.D. *
- Copy of death certificate. *
- In case of legitimate biological child a copy of the child’s birth certificate. *
- BI 1663 and burial order *
- Medical report (if unnatural death)
- SAPS. Report (if unnatural death)
- Claim form.
- Claimant or nominated beneficiary bank statement
For claim please complete claim form that can be requested by calling Asante Funeral and submit claim as directed on claim form.
Asante Funeral (Funeral scheme administrator)
16083 EXT 76 Seshego, Polokwane, 0699
Email address:[email protected]
For claims [email protected] Cell: 067 844 3116