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General terms and conditions: Society Plan

  • The maximum entry age for an Insured and /or nominated family dependants is under 65 / 75 years (depending on the selected option).
  • Cover for all nominated family members remains in place provided the premium remains (Children included).
  • Unmarried mentally / physically disabled Children who are totally and completely dependent on the Principal Member will be covered as long as the policy is in force.
  • Cover will be provided for a maximum of 5/9 nominated family members. (e.g., Spouse, additional Spouses, Children, Dependent Children)
  • Once the Principal Member’s cover ceases, the policy can be taken over by any nominated family member within 30 (thirty) Days.
  • Only RSA residents and SADC citizens legally residing in RSA can be
  • The Insurer reserves the right to cancel the policy with 31 (thirty-one) Days’ notice at any stage for whatsoever reason.
  • The Insurer will not change or Vary the Premium rate during the first 12 (twelve) months after the Commencement Date of the Policy unless there are reasonable actuarial grounds to change or Vary the Premium rate or when the Variation will be to the benefit of the Principal Member. After the first 12 (twelve) months, the Insurer reserves the right to review and change the premium and cover annually. Any changes to the Premium rate will be notified to the Principal Member 31 (thirty-one) Days prior to the change taking effect. Such notification will provide appropriate details of the reasons for the change to the Premium rate and will afford the Principal Member with reasonable steps, such as an option to terminate the policy or to reduce the policy benefit or to enter into an alternate policy, to mitigate the impact of the increase on the Principal Member. The Premium rates may be amended or changed, based on the following factors; past and future expected economic factors (for example, but not limited to, interest rates, tax and inflation), past and future claims experience, past and future expected lapse experience, past and future expected mortality experience, expected future reinsurance, any regulatory and legislative changes impacting this Policy or any other factor impacting the Premium that the Insurer deems material at the time.

 

Nominated Family Benefits.

  • Brothers, sisters, parents and parents-in-law can be covered as part of the 5/9 nominated family
  • Maximum entry age: under 65 / 75 years (depending on the selected option).
  • Premiums for the basic benefit are quoted as a fixed Rand amount per
  • Policy is a grouped policy and is annually

 
Exclusions

  • The Insurer will not pay any Funeral Benefit if Death was directly or indirectly caused, resulting from or in connection with any of the following: a. active participation in war, invasion, acts of foreign enemies, hostilities, warlike operations (whether war be declared or not), civil war, rebellion, revolution, insurrection, civil commotion assuming the proportions of or amounting to an uprising, military or usurped power; the deceased’s deliberate exposure to exceptional danger, except in an attempt by the deceased to save a human life; c. The deceased’s active participation in the commission of a criminal activity resulting in a claim event.
  • A 6 (six) months Waiting Period for natural death from the Commencement Date of cover for Funeral Benefit. The Insurer will have no liability for a Claim Event if Death for any Insured is directly or indirectly caused by or attributable to natural causes during this period, unless proof is supplied to the Insurer of previous cover for such Insured in the 31 (thirty-one) Day period prior to the Commencement Date of this Policy, and where such similar cover with the alternate insurer was replaced with this Policy and where the waiting period on such prior policy had already Where the waiting period has not yet fully expired, the unexpired part of the waiting period will remain in force until expiry.
  • Claims due to Accidental Death will not be subjected to a Waiting Period, on condition that the first premium is paid.
    When taking up a higher benefit a 6 (six) months Waiting Period for natural death will apply to the increased amount and not the current benefit cover enjoyed.
  • When taking over existing affiliation schemes Guardrisk Life Limited will require proof of membership with the prior underwriter for the Waiting Period for natural death to be waived, if not available the full Waiting Period for natural death will apply.
  • Children under 6 years will qualify for a maximum of R 20 000
  • Premiums must be paid for the month for cover to remain in Should premiums not be paid in terms of the policy, cover ceases and should the Principal Member wish to re- join after 2(two) months, they will be treated as a new entrant, with the full 6 (six) months waiting period for natural death restarting. The policy will lapse after 2 (two) premiums missed within a 12 (twelve) month cycle. The policy will be cancelled should the arrear premium/s not be paid in full before 2 (two) months of non-payment has passed. All outstanding premiums due must be paid before the end of the 2nd month. For all premium payments please always keep proof of payment for your records.
  • The Policy becomes active on receipt of the first paid

·  

Suicide will not be covered during the first (1) year of membership from the date of

  • A stillborn is not included for


Funeral Benefit

  • Exodec/Guardrisk Life Limited must be notified of Funeral claims within 6 (six) months of


Principal Member

  • Fully completed, signed and stamped claim form
  • Copy of a signed policy document
  • Certified Copy of the deceased’s identity document
  • Certified Copy of the death certificate
  • Fully completed DHA1663 Notice of Death Form
  • Certified Copy of the beneficiary identity document
  • If the cause of death is unnatural – a completed police report is required in an instance of a motor vehicle accident, or where the death is under investigation or resultant from
  • Banking details of scheme / beneficiary


Nominated Family Members (e.g. Spouse, additional Spouses, Children, Dependent Children)

  • Fully completed, signed and stamped claim form
  • Copy of a signed policy document
  • Certified copy of the Principal Member’s identity document
  • Certified Copy of the deceased’s identity document
  • Certified Copy of the death certificate
  • Fully completed DHA1663 Notice of Death Form
  • Certified Copy of the beneficiary identity document
  • Banking details of scheme /
  • If the cause of death is unnatural – a completed police report is required in an instance of a motor vehicle accident, or where the death is under investigation or resultant from
  • If a benefit under this Policy is an Unclaimed Benefit, Exodec will take any and all appropriate action to determine if the Beneficiary is alive and/or aware of the benefit payable to him/her under this Policy. Specifically, in the 3 (three) year period after the Unclaimed Benefit arises.
  • Before the end of the 3 (three) year period referred to above, Exodec will confirm the Unclaimed Benefit and transfer the amount of the Unclaimed Benefit to an account in the name of the Insurer, and the Insurer will accept liability for the Unclaimed Benefit.
  • A maximum period of 6 (six) months from the date of Death is permitted to submit all funeral claim Failure to comply with this will result in closure of the file and no further evidence being considered for assessment and processing of a Claim, unless there are extenuating circumstances acceptable to the Insurer for the late submission. NB: the above are extracts and summaries from the Policy and do not replace the official Policy, which contains all rights of members

    Disclosure Notice: Long-term Insurance Policyholder Protection Rules 2017 (PPRs) Financial Advisory and Intermediary Services (FAIS) General Code of Conduct 2003

Your Intermediary

Business Name: Exodec 229 (Pty) Ltd Registration number: 2016/486897/07 Physical address:

1st Flr Royal Palms Building, cnr Loch Street & Pierneef Blvd, Meyerton, 1961 Postal address:

PO Box 934, Meyerton, 1960

Telephone: 016 362 0334

Website: www.exodecgroup.co.za

FAIS registration (FSP No): 43212

In terms of the FSP license, Exodec 229 (Pty) Ltd, is authorised to give Intermediary Services and Advice for products under: CATEGORY I, II, IV,]:

·  [Long-term Insurance : Category A]

·  [Friendly Society Benefits]

·  [Long-term Insurance : Category B1]

·  [Long-term Insurance : Category B1-A]

·  [Long-term Insurance : Category B2]

·  [Long-term Insurance : Category B2-A]

·  [Long-term Insurance : Category IV]

Email: claims@exodecgroup.co.za
Marieta Pretorius Tel: 016 362 0334     
Email: info@exodecgroup.co.za
Tel:012 664 6257
Email:lprinsloo@mweb.co.za

The Insurer

Business Name: Guardrisk Life Limited Registration number: 1999/013922/06 Physical address: The Marc, Tower 2, 129 Rivonia Road, Sandton, 2196 Postal address:

PO Box 786015, Sandton, 2146

Telephone: +27-11-669-1000 Email: info@guardrisk.co.za Web: www.guardrisk.co.za

FAIS registration (FSP No): FSP 76

In terms of the FSP license, Guardrisk Life Limited is authorised to give advice and render financial services for products under:

CATEGORY I:

·  Long-term Insurance : Category A

·  Long-term Insurance : Category B1

·  Long-term Insurance : Category B1-A

·  Long-term Insurance : Category B2

·  Long-term Insurance : Category B2-A

·  Long-term Insurance : Category C

Email: compliance@guardrisk.co.za
Telephone: 0860 333 361
Policy details:
Manner of payment of premium:
Consequence of non-payment:
Fees payable to Exodec (included in the monthly premium)
Cooling Off Rights:
Cancellation Rights:
Applicable Laws:
 
Fraud:
Processing of Personal Information:
 
Other matters of importance:
Warning:
Waiver of Rights:

Particulars of the Long-Term Insurance Ombudsman (For claims/service-related matters) Postal address: Private Bag X45, Claremont, Cape Town, 7700 Telephone: +27-21- 657- 5000

0860 103 236

Fax number: +27-21- 674- 0951

Email address: info@ombud.co.za

Particulars of the FAIS Ombudsman

(For product/advice related matters)

 

Postal address: PO Box 41, Menlyn Park, 0063

 

Telephone: +27- 12- 762- 5000

Sharecall: 086 066 3274

Email address: info@faisombud.co.za

Financial Sector Conduct Authority (For market conduct related matters)

Postal address: PO Box 35655, Menlo Park, 0102

Telephone: +27-12- 428-8000

Fax number: +27- 12- 346- 6941

Email: info@fsca.co.za

Particulars of the Information Regulator (For complaints relating to the use of Personal Information)

Postal address: PO Box 31533, Braamfontein, Johannesburg,2017 Telephone: +27- 10- 023- 5200

Email:POPIAComplaints@inforegulator.org.za

Repatriation of mortal remains benefit and services by contracted service providers only (A NON-UNDERWRITTEN BENEFIT NOT OFFERED BY THE INSURER AND OFFERED SEPARATELY TO THE INSURANCE POLICY WITH A SEPARATE PREMIUM NOT INCLUDED IN TOTAL MONTHLY INSURANCE PREMIUM)
Exodec Assist Repatriation call centre no: 0861 55 5515 Quote following: Exodec Funeral Plan, Policy number.

 

receipt of the first month’s premium.

an Insured’s death. Even if all the required information is not yet

available, it must still be notified of the potential Claim. The following information is required to process a Claim (standard claims package):

  • On signing this document Exodec will confirm the offer of Insurance has been accepted on behalf of Guardrisk Life. Cover will commence on receipt of the first premium.

Fees disclosure: 66.5% Risk premium including 9% Binder Fee, 5% Guardrisk Life, 12%

Profit, 7,5% commission

Without in any way limiting and subject to the other provisions of the Services Agreement/Mandate, Exodec 229 (Pty) Ltd FSP43212 accepts responsibility for the lawful actions of their representatives (as defined in the Financial Advisory and Intermediary Service Act No. 37 of 2002) in rendering financial services within the course and scope of their employment. Some representatives may be rendering services under supervision and will inform You accordingly.

Legal and contractual relationship with the Insurer: Guardrisk Life Limited and Exodec 229 (Pty) Ltd have concluded a shareholder and subscription agreement that entitles Exodec to place insurance business with Guardrisk Life. The shareholder and subscription agreement entitles Exodec to share in the profits and losses generated by the insurance business. Guardrisk Life may distribute dividends at the sole discretion of their Board of Directors, to Exodec during the existence of the Policy. 

Professional Indemnity and/or Fidelity Cover: Exodec 229 (Pty) Ltd has a Professional Indemnity Cover and a Fidelity Guarantee Cover in place.

Claims Contact Person: Sanah Kwapeng

Tel: 016 362 0334 or Cell/WhatsApp: 071 600 1927

 

Complaints Procedures: Contact Person:

 

Compliance Officer: Leona Prinsloo

Conflict of Interest: Exodec has a conflict of interest management policy in place and is available to clients on the website.

Professional Indemnity and/or Fidelity Cover:

Guardrisk Life Limited has a Professional Indemnity Cover and Fidelity Guarantee Cover in place.

Compliance Details: Telephone: +27-11-669-1000

Website: www.guardrisk.co.za

 

Complaints Details:

Email: complaints@guardrisk.co.za 

Conflict of Interest : Guardrisk Life Limited has a conflict of interest management policy in place and is available to clients on the website. 

Policy Wording: A copy of the policy wording can be obtained from Exodec

Type of Policy: Funeral Class of Business

Risk covered: Death

Policy Benefits: Cover amount selected on the application form Your premium obligations

Monthly Premium: As per the policy agreement

Due date and frequency: Monthly

Direct deposit, Debit order, Easypay, Persal deductions

Cover will cease and no further benefits will be in force.

Details of any premium increases, including the frequency and basis thereof: Annually upon the Review Date.

Commission fee:7.5%   Binder fees:9%

The Intermediary directly or indirectly does not hold more than 10% of the relevant product supplier’s shares or has any equivalent substantial financial interest in the Insurer. Remuneration did not exceed 30%.

If any of the information reflected above and below was given to You orally, this disclosure notice serves to provide You with the information in writing. Should You not be satisfied with the Policy, You are entitled to a period up to 31 (thirty-one) Days from the date of receipt of the Policy within which You may cancel Your Policy in writing at no cost provided no Claim has arisen or any benefit paid. Cover will cease upon cancellation of the Policy. All premiums paid by the Policyholder to the Insurer up to the date of receipt of the cancellation notice will be refunded to the Policyholder.

The Principal Member may cancel the Policy at any time after the Cooling Off period by giving Exodec 31 (thirty-one) Days notice. Such cancellation will not attract any refund of premiums paid. The Insurer may cancel this Policy at any time for whatsoever reason by giving the Principal Member 31 (thirty-one) Day notice period. The Insurer may immediately cancel this Policy, or place it on hold, refuse any transactions or instructions, or take any other action considered necessary in order to comply with the law and prevent or stop any undesirable or criminal activity.

The Insurance Act 18 of 2017 and/or the Long-term Insurance Act 52 of 1998, the Policyholder Protection Rules (Long-term Insurance), 2017, the Protection of Personal Information Act 4 of 2013, and any other legislation relating to or regulating the protection or processing of data of Personal Information, direct marketing or unsolicited electronic communications and which may be applicable in the Republic of South Africa from time-to-time.

If any Claim under this Policy is in any respect fraudulent, or if any fraudulent means or devices are used by the Beneficiary or anyone acting on her/his behalf to obtain any benefits under this Policy, all benefits including premiums paid under this Policy shall be forfeited. The Insurer will take any appropriate action deemed necessary in such an instance and the Insurer’s rights will remain reserved at all times.

Your privacy is of utmost importance to us. We will take the necessary measures to ensure that any and all information provided by you for the purpose of this application, is processed in accordance with the provisions of the Protection of Personal Information Act 4 of 2013 and further, is stored in a safe and secure manner. You hereby agree to give honest, accurate and up-to-date Personal Information in order to process and accept this application. You accept that your Personal Information collected by us may be used for the following reasons: 1.to establish and verify your identity in terms of the Applicable Laws; 2.to enable us to proceed to issue the Policy should we accept this application;

 

Unless consented to by yourself, we will not sell, exchange, transfer, rent or otherwise make available your Personal Information (such as your name, address, email address, telephone or fax number) to any other parties and you indemnify us from any claims resulting from disclosures made with your consent.

 

You understand that if the Administrator/Insurer has utilised your Personal Information contrary to the Applicable Laws, you have the right to lodge a complaint with, Guardrisk or with the Information Regulator.

You will be informed of any material changes to the information about the Intermediary, Insurer and or Underwriting Manager provided above. You have the right to complain, you may do so by contacting Exodec on 016 362 0334 or email: info@exodecgroup.co.za, alternatively with Guardrisk Life on 0860 333 361 or email: complaints@guardrisk.co.za. If We fail to resolve Your complaint satisfactorily, You may submit Your complaint to the Ombudsman of Long-Term Insurance on 021 657 5000. You/ your Nominated Beneficiary has the right to claim, the conditions under which a claim may be made are stipulated in the policy and may be made by contacting Exodec on 016 362 0334 or email: claims@exodecgroup.co.za. You will always be given a reason for the repudiation of Your claim. If the Insurer wishes to cancel Your policy, the Insurer will give you 31 (thirty-one) Days written notice, to Your last known address. You will always be entitled to a copy of Your policy at no extra charge.

Do not sign any blank or partially completed application form. Complete all forms in ink. Keep notes of what is said to You and all documents handed to You. Where applicable, call recordings will be made available to You within 7(seven) Days of request. Don’t be pressurised to buy the product. Failure to provide correct or full relevant information may influence an Insurer on any claims arising from Your contract of insurance.

No insurer and/or intermediary may request or induce in any manner a client to waive any right or benefit conferred on the client by/or in terms of any provisions of the said Code, or recognise, accept or act on any such waiver by a client. Any such waiver is null and void.

 

The repatriation benefit is not regulated in terms of the Financial Advisory and Intermediary Services Act (“FAIS Act”) and therefore, you are not afforded the same protections which apply in respect of financial products or services which are regulated in terms of the FAIS Act.

Repatriation of Mortal remains within South Africa and neighbouring countries to a maximum of R10 000 per event and annual limitation of R20 000. Nominated extended family members excluded. When a member’s death occurs more than 100km from their normal place of residence/place of burial, the deceased will be transported to the place of burial irrespective of where the death occurred, or where the burial will take place, provided that the repatriation is within the defined territory. Allowance for 1 family member to travel with the deceased free of charge. Funeral assistance services: all documentation referral to pathologist if required and referral to a reputable undertaker. Removal from place of death (anywhere in RSA) minimum of 20Km to a maximum of R900 per claim. Storage to a maximum amount of a R1000/7 days. Standard waiting period as per product waiting period apply to new and existing policies.