We refer to the Notice of the Endorsement to the Unapproved Group Risk Insurance Umbrella Policy, communicated on 1 August 2022, affecting Participating Employers of the Fund that provide unapproved insurance benefits for their employees.
It is important to note that the policy contains all unapproved insured benefits available under the Fund, underwritten by our two Trustee-approved insurers, Sanlam Group Risk and ABSA Life, and may not be applicable to all Participating Employers. Participating Employers should refer to their Certificate of Participation to determine if their benefits are affected.
The key policy changes previously communicated, have been updated in the policy, in summary these include:
- Employees Travelling or Residing Outside the boarders of RSA
- Conditions relating to Flexible Life insurance
- Universal Education Protector Insurance revised definitions
- Clarity on the general exclusions by including the reference to conduct of a member during a strike
- And other cosmetic changes
To view the full policy, click here.