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This benefit protects the policyholder and spouse, if selected, against mortality risk (death) and has the following features:
If the life assured dies because of an accident, no waiting period will apply and the full benefit amount will be paid to the beneficiary or to the life assureds’ estate.
If the life assured dies of a natural cause, the following percentage of the benefit amount is paid:
|If, calculated from Date of Commencement, you die of a natural cause||The following percentage of the Benefit Amount can be claimed|
|In the first 6 months||0%|
|In months 7 to 12||10% limited to R10 000|
|In months 13 to 18||50%|
|19 months +||100%|
If the life assured commits suicide in the first 6 (six) months from Date of Commencement, no benefit will be paid. Should it happen during months 7 (seven) to 24 (twenty-four), 10% (ten percent) of the benefit amount will be paid, limited to R10 000 (ten thousand Rand). From month 25 onwards, 100% (one hundred percent) of the Benefit Amount is payable.
The Spouse Funeral Benefit only applies if the Life Cover Benefit is selected. No additional premiums are payable for the Spouse Funeral Benefit. Only one spouse may be selected for the Spouse Funeral Cover. Additional spouse(s) can be nominated under the Optional Add-On Funeral Cover.
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The Benefits you can select are shown in the table below – along with the page numbers in this document where you can find more details. A separate policy is issued for each Benefit.
The table also shows the various benefits under this product. Some of the benefits are automatically included in your policy, while others are optional.
|Advanced Life Plan||Life Cover||Stand-Alone Benefit|
|Physical Impairment (Disability)||Stand-Alone Benefit|
|Critical Illness (Dread Disease)||Stand-Alone Benefit|
|Funeral Cover||Optional Add-On|
|Survival Benefit (100% Cashback)||Optional Add-On|
|Lion Life Assist||Included in the Life Cover benefit|