BENEFICIARIES: The recipient(s) of the cover amount that is claimed on a risk product.

BENEFIT CATEGORIES: Detailed information outlining the claim event and the proportion of the cover (benefit) that will be paid if the event occurs.

BUNDLING: Helps provide flexibility, allowing you to access each policy in the bundle separately.

BUY-OUT OFFERS: This refers to settlement offers that a corporate entity can make to its employees in lieu of the post-retirement medical aid subsidy obligation it has towards its employees. Should an employee accept such a buy-out offer, the corporate entity will have no further financial obligation towards the employee. A buy-out offer usually takes the form of a lump sum cash settlement amount and/or an annuity.