F2014 RISK ASSURANCE
BENEFIT RANGE
Retail Mass Market
Broker Distribution
February 2014
RISK ASSURANCE BENEFIT RANGE
A comprehensive range of Risk Assurance Benefits, which offers the client best-ofbreed product features, value-for-money and financial peace of mind for life’s
eventualities
Financial Portfolio
Wealth Creation
Protection of Family & Estate
Funeral Plan Range
Value+ Plan
Standard Plan
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F2014 RISK ASSURANCE BENEFIT RANGE
Life Plan Range
ADDP
Pure Life Plan
Life & Disability Plan
VALUE+ FUNERAL
PLAN RANGE
A dignified farewell for you and your loved ones
THE VALUE+ FUNERAL PLAN RANGE
Individual Funeral Plan
Family Funeral Plan
Parents Funeral Plan
(maximum of four parents)
Extended Family Funeral Plan
(maximum of eight relatives)
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F2014 RISK ASSURANCE BENEFIT RANGE
PRODUCT FEATURES AND BENEFITS
Minimum Premium:
R70.00 per month
Maximum Cover:
R50 000 (Individual, Family Funeral Plans)
R30 000 (Parents and Extended Funeral Plans) where the lives covered are additional
spouse, son/daughter-in-law and own child)
R15 000 (Extended Funeral Plan - other relatives)
Premium Paying Term:
Whole of life – until death, disablement
Benefit Increases:
The Benefit increases will always be greater than the premium increase, in other words,
cover gets cheaper over time
Premium Increases:
Annually increasing premium at compound rate of 7.0%. Current rate but is subject to
change in the future
Maximum Entry Ages:
Policyholder: age 64 lbd
Other Lives: age 84 lbd
Waiting Periods:
No waiting period applies for accidental death or disablement. 6 months for nonaccidental causes and 12 months for non-accidental causes of disablement
Money Back Guarantee: If non-accidental death occurs in the first 6 months, a benefit equal to the amount of
the monthly premiums received will be paid
Premium Holiday Benefit: The Premium Holiday allows for up to six premiums to be skipped, during the term of
the policy. This benefit is available again to the client, on payment of the skipped
premiums
Cash Back Benefit:
Cash back of 5 months premiums’ after every 60 premiums paid
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F2014 RISK ASSURANCE BENEFIT RANGE
PRODUCT FEATURES AND BENEFITS
Double Accidental Death Cover:
On accidental death, double the amount of cover is paid out, even if
policy is in a paid-up status
Death or Disablement:
Full paid-up Benefit at any time during the policy term, after 12
(policyholder) months. A reduced Paid-up Benefit is available if monthly
premiums stop after 10 years.
Terminal Illness Benefit:
Provides for an accelerated lump-sum payment (50% of the cover at
that time) – even if policy is paid-up, after 10 years
Medical Underwriting:
No automatic medical testing. Health questions apply.
Surrenders & Withdrawals:
Funeral plans do not acquire surrender values and no part withdrawals
are possible
Effective Date for Increases:
Both premium and cover increases are effective on the 1st July each
year (subject to policy being in force for at least 6 months).
Cessions:
Funeral plans may not be ceded as security
Funeral Support Benefit:
Transport of the deceased by road or air from anywhere in the world to
a funeral home closest to the burial
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F2014 RISK ASSURANCE BENEFIT RANGE
24 HOUR FAMILY SUPPORT SERVICES
Access to the following Family Support Services* from independent service providers:
Health support*:
Telephone access to health advisers for assistance with health
queries.
Trauma, assault and HIV treatment*:
Assistance and treatment following assault (e.g. rape,
hijacking, child abuse), accidental exposure to HIV or other
kinds of trauma.
Emergency medical response*:
Advice, emergency treatment and transportation to an
appropriate medical facility.
Legal support*:
Free telephone advice and assistance on legal matters, help
with legal documents.
Important note:
*Family Support Services - Certain terms and conditions apply to the facilitation of this access. For a copy of these, call 0860 00 1919.
Old Mutual facilitates access to independent Family Support Service providers. Such access is not offered as a benefit under your insurance policy
and may be varied or cancelled at any time. The service providers provide services directly to you on terms agreed between you and the service
providers. Old Mutual does not accept any liability arising from the services rendered by the service providers.
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F2014 RISK ASSURANCE BENEFIT RANGE
VALUE+ FUNERAL PLAN RANGE
Terminal Illness Benefit provides for
accelerated lump-sum payment
Double Accidental
Death Benefit
R30 k
R15 k
R10 k
R7.5 k
R5 k
Waiting period 6 months
for non-accidental death
R20 k
Cover gets cheaper
over time
Money-back Guarantee
in waiting period
R25 k
Full Paid-up Benefit
after 12 months
6 premium skips
at any time
6 month
Cash-back of 5 months premiums after every 60 premiums
5 years
10 years
15 years
Reduced paid-up benefit even
if premiums cease after 10 years
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F2014 RISK ASSURANCE BENEFIT RANGE
STANDARD FUNERAL
PLAN RANGE
An affordable funeral plan for you and your loved ones
THE VALUE+ FUNERAL PLAN RANGE
Individual Funeral Plan
Family Funeral Plan
Parents Funeral Plan
(maximum of four parents)
Extended Family Funeral Plan
(maximum of eight relatives)
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F2014 RISK ASSURANCE BENEFIT RANGE
PRODUCT FEATURES AND BENEFITS
Minimum Premium:
R50.00 per month
Maximum Cover:
R20 000 (Individual, Family, Parents Funeral Plans)
R15 000 (Extended Funeral Plan) R20 000 (for add. spouse, son/daughter-in-law and
own child)
Premium Paying Term:
Whole of life – until death
Benefit Increases:
Annually increasing at 5.0%, but can vary. The cover increase will be equal to the
premium increase
Premium Increases:
Annually increasing premium at compound rate of 5.0%
Maximum Entry Ages:
Policyholder: age 65 lbd
Other Lives: age 84 lbd
Waiting Periods:
No waiting period applies for accidental death. 6 months for non-accidental causes
Money Back Guarantee:
If non-accidental death occurs in the first 6 months, a Benefit equal to the amount of
the monthly premiums received will be paid
Premium Holiday Benefit:
The Premium Holiday allows for up to six premiums to be skipped, during the term of
the policy. This benefit is available again to the client, on payment of the skipped
premiums
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F2014 RISK ASSURANCE BENEFIT RANGE
PRODUCT FEATURES AND BENEFITS
Cash Back Benefit:
Cash back of 3 months’ premiums after every 60 premiums paid
Medical Underwriting:
No automatic medical testing. Health questions apply
Surrenders & Withdrawals:
Funeral plans do not acquire surrender values and no part withdrawals are
possible
Effective Date for Increases:
Both premium and cover increases are effective on the 1st July each year
(Subject to policy being in force for at least 6 months)
Cessions:
Funeral plans may not be ceded as security
Funeral Support Benefit:
Transport of the deceased by road or air from anywhere in the world to a
funeral home closest to the burial
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F2014 RISK ASSURANCE BENEFIT RANGE
24 HOUR FAMILY SUPPORT SERVICES
Access to the following Family Support Services* from independent service providers:
Health support*:
Telephone access to health advisers for assistance with health
queries.
Trauma, assault and HIV treatment*:
Assistance and treatment following assault (e.g. rape, hijacking,
child abuse), accidental exposure to HIV or other kinds of
trauma.
Emergency medical response*:
Advice, emergency treatment and transportation to an
appropriate medical facility.
Legal support*:
Free telephone advice and assistance on legal matters, help with
legal documents.
Important note:
*Family Support Services - Certain terms and conditions apply to the facilitation of this access. For a copy of these, call 0860 00 1919.
Old Mutual facilitates access to independent Family Support Service providers. Such access is not offered as a benefit under your insurance policy
and may be varied or cancelled at any time. The service providers provide services directly to you on terms agreed between you and the service
providers. Old Mutual does not accept any liability arising from the services rendered by the service providers.
12
F2014 RISK ASSURANCE BENEFIT RANGE
VALUE+ FUNERAL PLAN RANGE
R30 k
R15 k
R10 k
R7.5 k
R5 k
Waiting period 6 months
for non-accidental death
R20 k
Annually increasing
at 5%, but can vary
Money-back Guarantee
in waiting period
R25 k
6 premium skips
at any time
6 month
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F2014 RISK ASSURANCE BENEFIT RANGE
Cash-back of 3 months premiums after every 60 premiums
5 years
10 years
15 years
LIFE PLAN RANGE
Financial Security for your family
THE LIFE PLAN RANGE
Pure Life Plan
To provide your family with money
and help them cope financially
should you die.
Life and Disability Plan
To help you financially should you
become disabled or to provide your
family with money on your death.
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F2014 RISK ASSURANCE BENEFIT RANGE
PURE LIFE PLAN - PRODUCT FEATURES AND BENEFITS
Minimum Cover:
R50 000
Maximum Cover:
R500 000
Maximum Entry Age:
60 lbd
Plan Type:
Whole life
Cover Increases:
Cover increases annually at 5%
Premium Increases:
Premiums increase annually, initially targeting 5% (not guaranteed)
Lives Covered:
Cover for the policyholder only, who also needs to be the premium payer. A spouse
may pay the premiums on the policyholder’s life
HIV+ diagnosed individuals qualify for cover
Waiting Periods:
Immediate accidental death Benefit
Staggered non-accidental death over 12 months
0 - 6 months:
7 - 12 months:
12+ months:
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F2014 RISK ASSURANCE BENEFIT RANGE
Benefit equal to premiums received
50% of cover amount
100% cover amount
PURE LIFE PLAN - PRODUCT FEATURES AND BENEFITS
Cover Ceases:
When premiums cease or on death
Money Back Guarantee:
Equal to the total premiums paid, if non-accidental death occurs within the
first 6 months
Premium Holiday Benefit:
Allows for up to six premiums to be skipped during the term of the policy. This
benefit is available again to the client, on payment of the skipped premiums
Terminal Illness Benefit:
On diagnosis of Terminal Illness, 50% of cover paid out immediately, remainder
paid on death (available after 5 years)
Income Assistance Benefit:
10% of Benefit paid in 48 hours, subject to waiting period
Funeral Support Benefit:
Transport of the deceased by road or air from anywhere in the world to a
funeral home closest to the place of burial
Medical Underwriting:
No medical testing. Standard health questions apply
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F2014 RISK ASSURANCE BENEFIT RANGE
PURE LIFE PLAN
R500k
Immediate Accidental
Death Benefit
Up to R500 000
Life Cover
R400 k
R300 k
Staggered
Waiting
Period
R200 k
R150 k
Money-back Guarantee
in first 6 months
R100 k
R50 k
6 premium skips
at any time
6 mnths
24 mnths
5 years
10 years
15 years
On diagnosis of Terminal Illness, 50% of
cover paid out immediately, remainder
paid on death
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F2014 RISK ASSURANCE BENEFIT RANGE
LIFE & DISABILITY PLAN - PRODUCT FEATURES AND BENEFITS
Minimum Cover:
R50 000
Maximum Cover:
R500 000
Plan Type:
Whole life
Cover Increases:
Cover increases annually at 5%
Premium Increases:
Premiums increase annually, initially targeting 5% (not guaranteed)
Maximum Entry Age:
60 lbd
Lives Covered:
Policyholder only
Waiting Periods:
Immediate accidental death/disability Benefit
Staggered non-accidental death/disability over 12 months
0 - 6 months:
7 - 12 months:
12+ months:
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F2014 RISK ASSURANCE BENEFIT RANGE
Benefit equal to premiums received
50% of cover amount
100% cover amount
LIFE & DISABILITY PLAN - PRODUCT FEATURES AND BENEFITS
Cover Ceases:
When premiums cease or on death/disability
Money Back Guarantee:
Equal to the total premiums paid, if non-accidental death/disability occurs
within the first 6 months
Premium Holiday Benefit:
Allows for up to six premiums to be skipped during the term of the policy. This
benefit is available again to the client, on payment of the skipped premiums
Terminal Illness Benefit:
On diagnosis of Terminal Illness, 50% of cover paid out immediately, remainder
paid on death/disability (available after 5 years)
Income Assistance Benefit:
10% of Benefit paid in 48 hours, subject to waiting period
Funeral Support Benefit:
Transport of the deceased by road or air from anywhere in the world to a
funeral home closest to the place of burial
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F2014 RISK ASSURANCE BENEFIT RANGE
LIFE & DISABILITY PLAN - PRODUCT FEATURES AND BENEFITS
Medical Underwriting:
No medical testing. Standard health questions apply
Deferred Period:
Payment of disability claims may be subject to a 6-month deferred period, to allow
for investigations into validity and permanence, that is the disability should have
lasted continuously for 6 months. This may be waived if insured has
permanent/irreversible loss. Policyholder may exercise the Premium Holiday option
during this period (if it’s available)
Exclusions:
The disability exclusions are:
Injury or sickness in respect of which the insured received medical
treatment during the three-year period prior to the date he/she became
covered for disability benefits and as a result of which he/she became
disabled within the three-year period after the date of commencement of
his/her participation in the disability benefits
Disability due to self-inflicted actions (incl. attempted suicide)
Deliberate exposure to exceptional danger
War or armed conflict (whether it is declared or not), civil unrest and
social revolt
Disability as a result of refusing medical treatment by a registered
medical doctor
Disability as a result of being affected by alcohol or drugs
Disability due to radio activity or nuclear explosion
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F2014 RISK ASSURANCE BENEFIT RANGE
24 HOUR FAMILY SUPPORT SERVICES
Access to the following Family Support Services* from independent service providers:
Health support*:
Telephone access to health advisers for assistance with health
queries.
Trauma, assault and HIV treatment*:
Assistance and treatment following assault (e.g. rape,
hijacking, child abuse), accidental exposure to HIV or other
kinds of trauma.
Emergency medical response*:
Advice, emergency treatment and transportation to an
appropriate medical facility.
Legal support*:
Free telephone advice and assistance on legal matters, help
with legal documents.
Important note:
*Family Support Services - Certain terms and conditions apply to the facilitation of this access. For a copy of these, call 0860 00 1919.
Old Mutual facilitates access to independent Family Support Service providers. Such access is not offered as a benefit under your insurance policy
and may be varied or cancelled at any time. The service providers provide services directly to you on terms agreed between you and the service
providers. Old Mutual does not accept any liability arising from the services rendered by the service providers.
22
F2014 RISK ASSURANCE BENEFIT RANGE
LIFE & DISABILITY PLAN
R500k
Immediate Accidental
Death/Disability Benefit
Up to R500 000
Life & Disability Cover
R400 k
R300 k
Staggered
Waiting
Period
R200 k
R150 k
Money-back Guarantee
in first 6 months
R100 k
R50 k
6 premium skips
at any time
6 mnths
24 mnths
5 years
10 years
15 years
On diagnosis of Terminal Illness, 50%
of cover paid out immediately,
remainder paid on death/disability
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F2014 RISK ASSURANCE BENEFIT RANGE
ACCIDENTAL DEATH &
DISABILITY PLAN
Offers cover in the event of accidental death or disability
PRODUCT FEATURES AND BENEFITS
Minimum Cover:
R50 000
Maximum Cover:
R250 000
Plan Type:
Whole life
Cover Increases:
Cover increases annually at 5%
Premium Increases:
Premiums increase annually, initially targeting 5% (not guaranteed)
Maximum Entry Age:
60 lbd
Lives Covered:
Policyholder only, who also needs to be the premium payer. A spouse may pay
the premiums on the policyholder’s life
HIV+ diagnosed individuals qualify for cover
Death or Disablement:
On Accidental Death or Disability: Full cover paid from application date
On Non-Accidental Death or Disability: Money Back Guarantee
Paid-up Benefits:
No paid-up Benefits are available. Premiums must continue for cover to
continue
Money Back Guarantee:
Equal to the total premiums received, on non-accidental death or disability
throughout lifetime of policy to a maximum of current cover
Premium Holiday Benefit:
Allows for up to six premiums to be skipped during the term of the policy. This
benefit is available again to the client, on payment of the skipped premiums
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F2014 RISK ASSURANCE BENEFIT RANGE
PRODUCT FEATURES AND BENEFITS
Cash Back Benefit:
Cash back of 5 months’ premiums after every 60 premiums paid
Funeral Support Benefit:
Transport of the deceased by road or air from anywhere in the world to a
funeral home closest to the place of burial
Deferred Period:
Payment of disability claims may be subject to a 6-month deferred period, to
allow for investigations into validity and permanence, that is the disability
should have lasted continuously for 6 months. This may be waived if insured
has permanent/irreversible loss. Policyholder may exercise the Premium
Holiday option during this period (if it’s available)
Recognition of Disability:
Disability will be recognised in the event of the total & permanent loss of the
use of at least one hand or foot and/or loss of the sight in one eye due to an
accident, or total and permanent loss of the use of both hands/feet or one of
each due to sickness. While you are permanently employed as a teacher,
have suffered demonstrable physical damage to your vocal cords and are
prevented from speaking to a degree that you are unable to work as a
teacher, or while you are permanently employed as a court interpreter, have
suffered demonstrable damage to your vocal cords or lose your hearing to a
degree that you are unable to work as a court interpreter
Disability Exclusions:
Due to self-inflicted actions (attempted suicide), deliberate exposure to
exceptional danger (except in attempt to save human life), own criminal act,
being affected by alcohol or drugs (not prescribed by registered medical
practitioner)
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F2014 RISK ASSURANCE BENEFIT RANGE
24 HOUR FAMILY SUPPORT SERVICES
Access to the following Family Support Services* from independent service providers:
Health support*:
Telephone access to health advisers for assistance with health
queries.
Trauma, assault and HIV treatment*:
Assistance and treatment following assault (e.g. rape, hijacking,
child abuse), accidental exposure to HIV or other kinds of
trauma.
Emergency medical response*:
Advice, emergency treatment and transportation to an
appropriate medical facility.
Legal support*:
Free telephone advice and assistance on legal matters, help
with legal documents.
Important note:
*Family Support Services - Certain terms and conditions apply to the facilitation of this access. For a copy of these, call 0860 00 1919.
Old Mutual facilitates access to independent Family Support Service providers. Such access is not offered as a benefit under your insurance policy
and may be varied or cancelled at any time. The service providers provide services directly to you on terms agreed between you and the service
providers. Old Mutual does not accept any liability arising from the services rendered by the service providers.
27
F2014 RISK ASSURANCE BENEFIT RANGE
ACCIDENTAL DEATH & DISABILITY PLAN
Up to R250 000
Acc. Death/Disab. Benefit
R150k
R125 k
R100 k
On accidental death/disability, immediate cover
On non-accidental Death/Disability, cover equal to amount of premiums received
R75 k
R50 k
R40 k
R30 k
Cash-back every 5 years
6 premium skips
at any time
6 months
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F2014 RISK ASSURANCE BENEFIT RANGE
5 years
10 years
15 years
THANK YOU
Old Mutual is a Licensed Financial Service Provider