Instacash Funeral Cover Terms & Conditions
1. Policy Description
This benefit is designed to assist with the costs associated with funeral arrangements. The Funeral benefit pays out a lump sum in the event of the death of the Instacash clients, spouse, children or extended family Instacash clients (if applicable).
2. Insurer
The Insurer is Orchard Insurance Swaziland Limited, a registered Insurer that underwrites the Benefits under this Policy.
3. Life Assured
The person(s) who are eligible for cover under this plan will be all Instacash clients. The Life Assured shall be the person whose life is covered under the issued Policy, who is at least 18 (eighteen) years of age but not older than 70 (seventy) years as at Commencement Date for the Death and Funeral Benefit.
4. Sum Assured
The Sum Assured shall be the lump sum amounts payable on the occurrence of a risk event.
5. Cover Commencement Date
Cover for accidental death will commence on receipt of a fully completed application form and supporting documentation. For debit order or stop order payments, cover for natural death will commence on acceptance on the first day of the month following receipt of completed application forms. Waiting period for natural death will also commence on this date. For other forms of payments, cover for natural death will commence on the 1st of the month following the receipt of the first premium and completed application forms. The Waiting period for natural death will also commence on this date.
6. Cover
Cover refers to the Insured Person’s entitlement to a Benefit on the happening of the Insured Event.
7. BeneficiaryCover
Beneficiary shall mean the person, named at Policy inception as the person entitled to claim or receive the payment, in the event of the Life Assured’s Death. The Beneficiary must be named at policy inception for any Funeral Claims. For other risk event, the Beneficiary will be the Life Assured.
Funeral Benefit Specific Claim Requirements:
- Benefit Specific completed Claim Form
- Life Assured’s Identity Document
- Statement of loan amount
- Death certificate
- Claimant’s Identity Document
- Police reports
- Specialist Medical reports (where applicable)
- Proof of relationship
The Insurer reserves the right to call for any additional information reasonably necessary in order to assess and verify a claim.
8. Insured Events
The Insured Events covered by this Policy will be the Funeral Benefit.
9. Benefit (s)
The Policy covers the Life assured for the Funeral Benefit.
9.1 Funeral Benefit
Benefit Amount Main Member E 10,000
10. Maximum number of Policies
Each Life Assured may only be covered under one Policy.
11. Waiting Period
3 months waiting period applies to existing and new clients. Cover will only be provided for active accounts where all account fees are paid up to date. No cover will be supplied for accounts which are dormant for longer than thirty (30) days.
12. Premiums
No Premiums apply to this Policy. However, cover is subject to all underlying account fees and conditions being met.
13. Cover Cease Age
Cover Cease Age shall mean the age at which any Cover provided in terms of the Benefit/s shall cease. Cover will terminate upon non-payment of premiums and the death of the Instacash Client.
14. Maximum Entry Age
The Maximum Entry Age for the Funeral Benefit is age 70 (seventy) years.
15. Claim Requirements
Valid claims will be paid on receipt and verification of all the necessary supporting documentation. The Benefits provided in terms of this Policy will not be paid unless the Insurer is satisfied as to the validity of the claim and the entitlement of the claimant to receive the Benefits.
The following documents must be presented in order to lodge the Benefit specific claims:
16. Claim Notification Period
A claim must be submitted within six (6) months of the date of the Insured Event. The Insurer reserves the right to reject a claim that is not submitted within the Notification Period.
17. Document Submission Period
All relevant documentation pertaining to a claim must be submitted within twelve (12) months of the date of the Insured Event. The Insurer reserves the right to reject a claim whereby the relevant documentation is not submitted within twelve (12) months.
18. Upgrade and Downgrade of Benefit
No Upgrades or downgrades will be allowed.
19. Exclusions
A claim as a result of the following are excluded:
1. Invasion or act of foreign enemy
2. Hostilities (whether war is declared or not) or unrest
3. Involvement in criminal activity
4. Self-inflicted injuries within the first 24 months following the commencement date
5. The effects of radioactivity or nuclear explosion
6. Accidental Death as a result of riot, hazardous sports or any illegal acts where the deceased was directly involved
7. Non-compliance to medical treatment
8. War, riot or acts of terrorism
9. Injuries, diseases or conditions arising while under the influence of alcohol or illegal drugs.
20. Surrender Value
No surrender cash value is payable under this Policy.
21. Termination of Policy
The Benefits under this Policy in respect of the Life Assured will cease when:
- Non payment of premium ; or
- the death of the Instacash Client.
22. Cancellation
The Insurer reserves the right to cancel the Policy by giving thirty (30) days’ notice in writing.
23. Revision or Cancellation of terms and conditions
On the expiration of the Grace Period, this Policy shall lapse and no further Benefit will be payable.
24. Revision or Cancellation of terms and conditions
Orchard Insurance reserves the right to amend, revoke, vary, alter or cancel any of the terms and conditions of this Policy. If so, the Insurer will give the Life Assured at least thirty (30) days written notice of such amendment or cancellation to the last known address.
25. Cession
The Benefits under this Agreement cannot be ceded, pledged for security or assigned in any way.
26. Currency
Premiums and Benefits are expressed and payable in Swaziland Emalangeni.
27. Territorial Limit
The Life Assured will be covered while domiciled in the country where the Policy was issued. The Life Assured will also be covered outside the domicile country for a maximum period of twelve (12) months, provided premiums are continued to be paid. Should the Life Assured be outside the domicile country for longer than twelve (12) months the Policy will lapse. A request by the Life Assured for written permission for an extension of stay outside the domicile country must be in place. Should the Life Assured return to the domicile country and subsequently leave before thirty (30) days have expired then this will not constitute a return to the domicile country.
28. Fraud
If any claim under this Policy is fraudulent in any manner, all Benefits will be forfeited, the Policy cancelled and all Premiums paid will be forfeited and no refund of premiums will be payable.
29. Non-disclosure and Misrepresentation
If any material information has been withheld or any information disclosed appears to be false or incorrect, Orchard Insurance reserves the right to invalidate the Policy and all Premiums will be forfeited.
30. Jurisdiction and Law
The laws of Swaziland, whose courts shall have jurisdiction in any dispute arising hereunder, will govern this Policy.
31. Dispute Resolution
Any dispute or action relating to this Policy will be determined in accordance with the laws of Swaziland. In the event of a dispute please contact the following:
The Principal Officer
Orchard Insurance Swaziland Limited
1st Floor New Mall, Mbabane, Swaziland
