Funeral insurance Update October 2019 Insurance Financial Planning - - PowerPoint PPT Presentation

Insurance Financial Planning Retirement Investments Wealth

KwaZulu-Natal Joint Municipal Pension Fund Funeral insurance Update October 2019

agenda

Discussion points

⧁ Funeral Insurance benefit ⧁ Value adds ⧁ Open Period ⧁ Data Requirements ⧁ How to claim?

Funeral policy benefits

Person covered: Immediate family Benefit payable on death

Insured/Member (i.e. principal member) R35 000 Member’s qualifying SPOUSE R35 000 Member’s qualifying CHILDREN:

• Aged 14 and older, but younger than 21

R17 500

• Aged 6 and older, but younger than 14

R8 750

• Younger than 6 years, including stillborn

R8 750 Cost as at 1 November 2019 R44.00 p.m.p.m

Funeral Benefit

⧁ Benefit Cessation Age: The last day of the month in which the age of 65 years is attained if in the active service of the employer ⧁ Waiting Periods: 2 month(s) in the case of an employee who enters the service of an employer on or after 1 October 2013.

IMMEDIATE family - Qualifying spouse: ⧁ Only 1 Spouse can be covered at a time; ⧁ Employees with more than one spouse – the spouse to be insured needs to be nominated as only one spouse is covered per review period ⧁ A person of any gender can be insured as your spouse

➢ if their relationship with you is recognised by South Africa’s legislation on

marriage, or official religious practice, or African culture and customs; or

➢ where a life partner is identified, whereby the employee registered the

cohabiting relationship with the employer. Please note - a cohabiting spouse, in a ‘living together’ arrangement, does not qualify for cover if he / she is legally married to someone other than the person they are living together with

IMMEDIATE family - Qualifying children: Children are defined as biological, step or legally adopted children: ⧁ Eligible children therefore include:

➢

a biological child of the member, including a posthumous child (i.e. born after the date of the member’s death); or

➢

a legally adopted child of the member (the adoption, or date of application for adoption, must be before the date of death of the member); or

➢

a step child of the member (validated by legal marriage; this means a life partner’s children are not automatically covered if not legally adopted). ⧁ Eligible under 21 years are covered, while full-time students will be covered if under the age of 26 years, when cover will terminate. ⧁ A child will be covered if incapacitated by a physical or mental infirmity from maintaining himself/herself and such incapacity commenced when the child was either under the age

• f 21 or under the age of 26 years while a full-time student at an educational institution

Reality Access for Sanlam Group Risk (SGR)

SGR’S LOYALTY PROGRAMME

Reality Access for Sanlam Group Risk (SGR)

24/7 assistance with the arrangement of the burial of a loved one

EXISTING BENEFIT

Burial Repatriation & Funeral Support

Via road or air, from anywhere in RSA, Lesotho, Swaziland, Zimbabwe, Botswana, Namibia, Mozambique

Transport of mortal remains of the insured to the final funeral home closest to the place of burial in South Africa

Added assistance

with funeral arrangements aimed at simplifying the death/burial for the family

(actual cost of services by service providers for family’s account)

Transportation and

accommodation for a single

relative to accompany the mortal remains to the final funeral home

• Assistance and advice on claims procedures;
• Advice and assistance can be provided on matters such as obtaining a death

certificate and cross-border documentation;

• Referral to a pathologist if an autopsy is necessary;
• Referral to reputable funeral parlours and providers for funeral services such as

catering and transport; and

• Assistance when looking for a tombstone supplier.

Redeeming benefits and savings Log in at www.sanlamreality.co.za> How it works; or Call …

Open Period

⧁ 1 January 2020 – 31 March 2020 ⧁ 3 Month Waiting Period applicable to these members ⧁ Applicable to all members who did not previously choose to join the scheme

Data Requirements

⧁ Data in excel format including: ⧁ Annual Salary ⧁ Premium deduction ⧁ Category of membership ⧁ ID

How to claim for a funeral benefit?

Each of our claim forms indicate which supporting documentation must be submitted. The onus lies upon the employee and employer to provide the respective information in order for Sanlam to process the claim On receipt of the full claims package (i.e. no outstanding information): ⧁ Please e-mail to: sgrdeathclaims@sanlam.co.za ⧁ Standard turn-around-time : within 48 hours = 2 working days

⧁ Standard claims package consisting of:

• Completed and signed funeral claim form (obtain from the employer);
• Original certified copy of the identity documents of both the deceased member and the

beneficiary/ies receiving the benefit;

• A copy of the Application for funeral benefit-form (i.e. nominating the person that will be responsible

for the funeral arrangements);

• Original certified copy of the official death certificate, certified by a Commissioner of Oaths other than

the Commissioner of Oaths of the employer concerned;

• Original certified copy of the Notice of Death / Stillbirth DHA-1663 A form; and

Please note – All of the pages must please be submitted.

• Confirmation/proof of beneficiary's banking details in the form of a cancelled cheque, or a bank

statement that includes the bank's stamp.

questions

thank you