STAND-ALONE BENEFIT: A claim on a "stand-alone” or “non-accelerated” benefits does not reduce the total of your Life Cover and Renewable Life Cover under the policy by the amount of the claim. These benefits cost more than the equivalent accelerated benefits because they provide more comprehensive cover.
SPOUSE: The named person to whom the principal member is legally
married and includes the following:
• A customary union according to the Recognition of Customary Marriages Act, 1998 (Act No. 120 of 1998)
• A union recognised under the tenets of any Asiatic religion
• A life partner in a relationship which Liberty considers akin to a marriage
• The specific spouse nominated by a member (where polygamy is practised)
SPOUSE’S REVERSION: This refers to the remaining percentage of the regular annuity payments under a joint life annuity when the principal policyholder passes away. For example, if the spouse’s reversion is 60% and the annuity payment to the principal policyholder is R100 before the date of death, then the annuity will reduce to R60 and will be paid to the surviving spouse.