In the December Toolkit we touched on the revamp of the Sanlam Group Risk Universal Education Protector (UEP) product for new and existing policyholders applicable from 1 January 2022. The improved UEP benefits will apply to new as well as existing UEP claimants, for the education costs of eligible children incurred on or after 1 January 2022. The policy contracts of existing clients will only be endorsed during the course of the first quarter of 2022, but all existing and new UEP claims on or after 1 January 2022 will already qualify for the improved UEP benefits.
Below is a summary of the benefit enhancements:
- A minimum allowance benefit for eligible children attending no-fees or fee-paying schools of R1,100 per annum, that can be utilized for any school-related expenses, e.g. prescribed books, stationary, uniforms and sports equipment. In the past children attending no-fees schools were not able to claim an allowance benefit.
- The benefit payment is subject to any book allowance fees payable, e.g. the minimum allowance benefit of R1,100 per annum is reduced by the book allowance expenses paid (if any); or the book allowance expenses claimed (if any) is reduced by the minimum allowance benefit paid
- The minimum allowance benefit is forfeited if not claimed for an academic year.
- An eligible child can now change from a no-fees school to a fee-paying school, subject to a maximum tuition fee payment of R11,500 per annum, in the academic year following the SGR member’s death; or when progressing from Pre-primary school (Grade 0/R) to Primary school (Grade 1); or when progressing from Primary school (Grade 7) to High school (Grade 8).
- Provision is now made for online home-schooling platforms approved by SACAI, based on the CAPS (public) and IEB (private) school curriculums.
- Benefits now remain payable should an eligible child fail the previous year of school education, but benefit payments will be limited to the overall maximum benefit period for the applicable level of school education (Pre-school = 1-year, Primary school = 7 years, High school = 5 years). For special needs children that fail their previous year of school education, benefits will not be limited to the maximum benefit period and will remain payable until the end of the year in which the child turns 23.
- Tertiary education benefits in respect of subjects that the eligible child has to repeat will now be paid, provided that the previous academic year of tertiary education was not failed, i.e. if two-thirds or more of their subjects were failed, or if the child failed according to the policies of the relevant tertiary education institution.
- Eligible children are now allowed to take one gap year between the completion of their high school education (Grade 12) and the start of their Tertiary education. No benefits are payable during the gap year.
- The policy definition of tertiary institutions providing for a trade diploma or certificate has been clarified by amending it to “any institution of higher learning in respect of any National Qualification Framework (NQF) recognised tertiary level Certificate or Diploma”.
- Eligible children are now allowed to change their undergraduate degree or course of tertiary study, but their tuition fees will be limited to the fees that would have been payable for the remaining amount of the original degree or course and benefit payments will be limited to the remaining term of the original undergraduate degree or course.
- Only eligible children that are “unmarried” at the death of the member will qualify for UEP benefits.
- As a result of unforeseen operational circumstances, the provision of the beneficiary ID card was removed.
Please note:
- Guardians of eligible children that are attending no-fees schools may not be aware of all the new benefits (e.g., minimum allowance benefit) that are now available to these children.
- We would therefore appreciate that our intermediaries inform all relevant parties of the minimum allowance benefit that can now be claimed by children attending no-fees schools, to ensure that guardians receive financial assistance. General information regarding all the new benefit features is available in the UEP Guardian communication document, which indicates that guardians can direct all their claims queries to Sanlam Trust on the toll-free number 0800 212 382.
For more information, please click on the following links:
- Click here to view the recording of Sanlam Group Risk recent webinar as presented by Michele Jennings,
- Sales brochure
- The Guardian brochure is for the purpose of guardians to inform them of the requirements when submitting future claims.