What is the dread disease benefit?
A risk benefit offered as part of our unapproved corporate selection unapproved group life plan and corporate series plan that pays out a cash lump sum upon a member being diagnosed with a critical illness.
Which options can employers choose from?
There are three options to choose from including:
More about the plans:
All the options offered pay up to 100% of their dread disease cover specified in the relevant dread disease classification list (either the basic classification list or the comprehensive classification list).
The Living Plan as well as the Progressive Living Plan are accelerated benefits, which means that member's death benefit (Group Life Assurance Benefit) will be reduced by the amount of the dread disease benefit paid.
The Progressive Living Plan Plus is a non-accelerated benefit, which means that a member's benefit (Group Life Assurance Benefit) will not be reduced by the amount of the dread disease benefit paid.
How much are member's covered for?
Cover may not exceed (whichever is less):
A member's unapproved Group Life Assurance Benefit cover.
Three times a member's annual salary (for salary-based plans).
R2.5 million (for rand-based plans).
30 times the total contribution made by and on behalf of a member
When will a member's cover end?
Cover will end if a member (whichever comes first):
Leaves the plan membership.
Ceases employment with the participating employer.
Reaches the plan's termination age, as outlined in the employer participation schedule
Turns 65.
Passes away.
Has received 100% of their dread disease benefit claim (this excludes the Progressive Living Plan Plus )
What is the Dread Disease Catch-All Benefit?
A member may qualify for the catch-all benefit if she/he suffers from a serious physical condition, which is equal to a condition that may qualify for a 100% pay out under another benefit category.
The severity of the condition must result in a Whole Person Impairment level of at least 50% to qualify for a payment under this category.
What is the dread disease benefit?A risk benefit offered as part of our unapproved corporate selection unapproved group life plan and corporate series plan that pays out a cash lump sum upon a member being diagnosed with a critical illness.
Which options can employers choose from?
There are three options to choose from including:
More about the plans:
All the options offered pay up to 100% of their dread disease cover specified in the relevant dread disease classification list (either the basic classification list or the comprehensive classification list).
The Living Plan as well as the Progressive Living Plan are accelerated benefits, which means that member's death benefit (Group Life Assurance Benefit) will be reduced by the amount of the dread disease benefit paid.
The Progressive Living Plan Plus is a non-accelerated benefit, which means that a member's benefit (Group Life Assurance Benefit) will not be reduced by the amount of the dread disease benefit paid.
How much are member's covered for?
Cover may not exceed (whichever is less):
A member's unapproved Group Life Assurance Benefit cover.
Three times a member's annual salary (for salary-based plans).
R2.5 million (for rand-based plans).
30 times the total contribution made by and on behalf of a member
When will a member's cover end?
Cover will end if a member (whichever comes first):
Leaves the plan membership.
Ceases employment with the participating employer.
Reaches the plan's termination age, as outlined in the employer participation schedule
Turns 65.
Passes away.
Has received 100% of their dread disease benefit claim (this excludes the Progressive Living Plan Plus )
What is the Dread Disease Catch-All Benefit?
A member may qualify for the catch-all benefit if she/he suffers from a serious physical condition, which is equal to a condition that may qualify for a 100% pay out under another benefit category.
The severity of the condition must result in a Whole Person Impairment level of at least 50% to qualify for a payment under this category.
What is the dread disease benefit?
A risk benefit offered as part of our unapproved corporate selection unapproved group life plan and corporate series plan that pays out a cash lump sum upon a member being diagnosed with a critical illness.
Which options can employers choose from?
There are three options to choose from including:
More about the plans:
All the options offered pay up to 100% of their dread disease cover specified in the relevant dread disease classification list (either the basic classification list or the comprehensive classification list).
The Living Plan as well as the Progressive Living Plan are accelerated benefits, which means that member's death benefit (Group Life Assurance Benefit) will be reduced by the amount of the dread disease benefit paid.
The Progressive Living Plan Plus is a non-accelerated benefit, which means that a member's benefit (Group Life Assurance Benefit) will not be reduced by the amount of the dread disease benefit paid.
How much are member's covered for?
Cover may not exceed (whichever is less):
A member's unapproved Group Life Assurance Benefit cover.
Three times a member's annual salary (for salary-based plans).
R2.5 million (for rand-based plans).
30 times the total contribution made by and on behalf of a member
When will a member's cover end?
Cover will end if a member (whichever comes first):
Leaves the plan membership.
Ceases employment with the participating employer.
Reaches the plan's termination age, as outlined in the employer participation schedule
Turns 65.
Passes away.
Has received 100% of their dread disease benefit claim (this excludes the Progressive Living Plan Plus )
What is the Dread Disease Catch-All Benefit?
A member may qualify for the catch-all benefit if she/he suffers from a serious physical condition, which is equal to a condition that may qualify for a 100% pay out under another benefit category.
The severity of the condition must result in a Whole Person Impairment level of at least 50% to qualify for a payment under this category.