Cashback Lifestyle life insurance
INSURED AMOUNTS
Insured amounts range between the following minimum and maximum values
Minimum | R30 000 |
Maximum | R500 000 |
INSURED AMOUNT PAYMENTS
Duration of policy | % of the insured amount to be paid |
Less than six months | 0% |
Six months or more but less than 12 months | 25% |
12 months or more but less than 18 months | 50% |
18 months or more but less than 24 months | 75% |
24 months or more | 100% |
DEATH COVER PAYMENTS
Death cover pays out in three steps
- Funeral accelerator
10% of the insured amount on death - Lump sum benefit
70% of the insured amount after underwriting has been done - Survivor benefit 20% of the insured amount payable over four months after payment of the lump sum benefit
WAITING PERIODS
- The policy has a stepped waiting period for deaths resulting from natural causes
- The full insured policy amount is payable after for 24 months or longer
- The waiting period for claims resulting from suicide is 24 months
PRODUCT FEATURES
Disabilities covered:
- Total loss of vision
- Total loss of speech
- Amputation
- Paraplegia
- Quadriplegia
Critical illnesses covered:
- Heart attack
- Stroke causing permanent damage
- Coronary artery bypass graft
- Invasive cancer