RISK TERMS YOU SHOULD KNOW
Except for the EXTENDED FAMILY FUNERAL SCHEME, all the monthly premiums for the other insured benefits that you select will be deducted from the monthly contribution your employer makes to the Fund on your behalf. Please note that SARS deems this to be a taxable benefit and, your employer is required to levy income tax on your monthly premium. As with all insured products, terms and conditions may apply, please see the website for more detailed information on each of the products on offer.
Our death cover benefit allows you to change your cover option once a year and within 3 months of a life event. The following are defined as life events:
The birth of a child
The death of a spouse
A member whose contract of employment changes from being permanent and in full-time service of the employer to an employee employed on a fixed-term contract or vice versa, may change his/her death cover option on the date of the employment contract change.