Life Cover Benefit:Our Life cover benefit pays the cover amount when you die or become terminally ill. (Please refer to the terminal illness clause under ‘Terminal Illness Benefit’ in this document). If we pay the cover amount when you become terminally ill, the policy will stop, and we will not pay anything more on your death.Accidental Death Benefit:This benefit pays the cover amount if you die because of an accident, after the cover start date. Please refer to our Accidental Death clause under ‘What will happen to my premium if my cover drops to only cover Accidental Death Benefit?’.There are also additional benefits that come standard with a Life policy, including:Terminal Illness Benefit:This benefit allows for a lump sum payment when diagnosed with a terminal illness with a life expectancy of no more than 12 months. If the insured person is diagnosed with a medical condition which, according to Old Mutual’s Chief Medical Officer, will result in death within 12 months, the contracting party may request the payment of a Terminal Illness Benefit and need to complete the Terminal Illness Claim form Guaranteed Assurability Benefit:The guaranteed assurability benefit option enables you to increase the cover amount by up to:

25% of the original cover amount;
a maximum allowed; or
our maximum insurable amount at the time; whichever is the lower.

We will not ask you questions about your health and lifestyle. This benefit may only be exercised every three years at the policy anniversary, at a significant event or within three months from the policy anniversary or the happening of the significant event (as the case may be). You may increase cover through this option once every three years.You may only use this benefit if you:

have not claimed and are not in the process of claiming;
are not aware of any condition present and have not suffered any event that would entitle you to claim under a policy; and
are younger than 65.

FAQs

all

car

home

life

more