Policyholder Protection Rule 11 imposes an obligation on the insurer to disclose any material information with regards to their group risk policy directly to members, and in the case of claims, the beneficiaries of the benefit.
In line with this regulation, insurers are required to send payment confirmation directly to the beneficiaries as part of the funeral and death claims process. It is therefore imperative that accurate contact details for beneficiaries are provided when submitting any claims to ensure compliance and a seamless claims experience.
Should the insurer not receive the contact details of the beneficiaries, the confirmation of payment letters will be provided to the participating employer for distribution. In this case, the insurer will request proof of such communication to beneficiaries, for the purpose of monitoring compliance with this regulation.
As our insurers implement this modification in accordance with the legal obligations, we sincerely appreciate your cooperation and understanding. We appreciate your consideration of this issue and your ongoing collaboration. If you need more information or have any questions, please contact your dedicated Client Relations Manager.