The Accidental Death Permanent Disability benefit is underwritten by by zlf11327

VIEWS: 6 PAGES: 6

									VISION
  WHAT WILL VISION OFFER MY COMPANY AND EMPLOYEES?


VISION is the one thing needed to protect you, your company and its employees !

As an entrepreneur you have given your company the special care and attention needed to make it grow and flourish!

With VISION you can ensure that you give yourself, your employees and your company assurance of financial support in

times of personal distress and the peace of mind that they are protected all year round!

VISION offers a unique range of Income Protection, Life Cover, Dread Disease, Capital Disability, a Savings Plan and a

Core Package consisting of Accidental Permanent Disability, Accidental Death, and a fully comprehensive Funeral Plan

for the immediate family.

  1. CORE BENEFIT


The Core Benefit provides for Accidental Permanent Disability cover, Accidental Death cover as well as a comprehensive

Funeral Benefit. The Core Benefit offers a choice of two options :



OPTION ONE                                              OPTION TWO

Accidental Death                       R15,000          Accidental Death                        R15,000

Accidental Permanent Disability        R30,000          Accidental Permanent Disability         R30,000



Funeral cover as follows:                               Funeral cover as follows:

R 7,500 for the policyholder                            R15,000 for the policyholder

R 7,500 for the spouse                                  R15,000 for the spouse

R 7,500 for children aged 14-21 years                   R10,000 for children aged 14-21 years

R 5 000 for children aged 6-13 years                    R 5 000 for children aged 6-13 years

R 3,000 for children aged 1-5 years                     R 3,000 for children aged 1-5 years

R 1 250 for children aged 0-11 months                   R 1 250 for children aged 0-11 months

R 1 250 for stillborn children                          R 1 250 for stillborn children



The Accidental Death & Permanent Disability benefit is underwritten by Medscheme Life. The Funeral Benefit is

underwritten by Safrican Insurance Company Ltd.



THE CORE BENEFIT IS NOT COMPULSORY IF THE LIFE COVER OPTION IS SELECTED.

  2. INCOME PROTECTOR


This benefit is payable to the employer during the time the employee is temporarily totally incapacitated from entirely

following their own occupation due to an accident or illness for a maximum period of either 12 or 24 months (whichever

benefit period is selected), including the excess period of thirty (30) days. Cover may be chosen between R1,000 to R10,000

per month and must not exceed 75% of gross monthly income. Maximum entry age of benefit is age 60 with cover

ceasing at age 65. This benefit pays over and above any compensation due. This benefit may not be taken in conjunction

with the Capital Disability Benefit.
  3. LIFE COVER


The Life Cover benefit offers cover to the employee up to a maximum of 3 times gross annual salary or R150,000 ,whichever
is the lesser amount. No medical underwriting required for cover up to R100,000. The same multiple of salary must apply
to the entire scheme. If an employer elects to cover his employees on this benefit, then this benefit must be selectedÊacross
the entire scheme. In the event that cover is not compulsory for all employees, the employer must provide cover for a
minimum of 10 employees on this benefit. Please note that in the event that the Life Cover benefit is not selected a minimum
of 5 employees may be covered on this policy. There is no minimum member requirement should the employer nominate
compulsory cover for all his employees. In the event of compulsory cover, all new employees need to be added within 3
months of date of employment. The employee must be actively at work at commencement of policy. The maximum entry
age is 60 years with cover ceasing at age 65. The benefits from this cover will be paid to the employeeÕs estate or a
nominated beneficiary.


  4. DREAD DISEASE

This benefit is designed to assist employees by providing an immediate cash payout upon diagnosis of a dread disease:
Heart Attack, Stroke, Cancer, Kidney Failure, Need for Coronary Artery Surgery, Need for Major Organ Transplant, Paraplegia,
Blindness. It takes the form of an immediate tax-free lump sum payment to the employee. Cover may be selected to a
maximum of 2 times gross annual salary or R100 000, whichever is the lesser amount. No medical underwriting required
for cover up to R60,000. The same multiple of salary must apply to the entire scheme. If selected, this benefit is compulsory
for all employees on the scheme This benefit accelerates from the Life Cover Benefit and therefore may not be selected if
the Life Cover Benefit is not selected. The maximum entry age for this benefit is age 50 and cover ceases at the earlier of
age 55 or retirement.


  5. CAPITAL DISABILITY


The Capital Disability benefit is designed to cover the employee should they be permanently totally incapacitated from
following any occupation. Cover may be selected up to a maximum of 2 times gross annual salary or R100 000, whichever
is the lesser amount. No medical underwriting for cover up to R60,000. This benefit accelerates from the Life Cover Benefit
and therefore may not be selected if the Life Cover Benefit is not selected. If selected, this benefit is compulsory for all
employees on the scheme. The same multiple of salary must apply to the entire scheme. The maximum entry age for this
benefit is age 50 and cover ceases at the earlier of age 55 or retirement. This benefit may not be selected if the Income
Protector benefit is selected.


* The Income Protector, Life Cover, Dread Disease & Capital Disability Benefits are underwritten by Medscheme Life.


  6. SAVINGS PLAN


An optional savings plan is available on VISION, enabling your employees the opportunity to access a simple, convenient
savings vehicle. With a minimum monthly premium of R20, this benefit allows a level of saving usually unavailable through
a traditional employee benefits fund.


¥ An initial withdrawal moratorium for the first year:
     - A maximum of 4 savings withdrawals per annum, available from month 13 onwards.
     - Minimum balance of R240 must be maintained from month 13.
¥ Balance statements will be issued on request.
¥ Interest will be calculated at 75% of an A1 bank savings rate.
¥ 100% allocation of employeeÕs premium is allocated to their savings.
                                                                                                      EMPLOYER APPLICATION FORM
                                                                                                                                                           Underwritten by




 Authorised FSP 2717                                                                                                                                    Authorised FSP 1856


  EMPLOYER DETAILS

Name of Employer:

Employer contact person:

Tel No:                                              Fax No:                                               email:

Is cover for the group compulsory: Yes                No       If yes please state how many employees are in the employ of the company:
If no, please state the number of employees to be included at inception:                                    Compulsory cover means that the employer must

apply for cover for all full time, permanent employess of the company. NB. All new employees must be added within 3 months of employment date.

Physical address:

                                                                                                                                           Postal Code:

Postal address:

                                                                                                                                           Postal Code:


   DIRECT DEBIT ORDER

DETAILS OF ACCOUNT HOLDER

Surname / Company Name / Account Holder:

Bank:                                                                                                    Branch Code:

Branch:

Type of account: Current               Savings          Transmission             Acc No:

If account holder is not the applicant, state the relationship:

Have you collected the first months premium and attached it to this application form? Yes                                  No

Requested commencement date of policy:                  D D            M M       Y Y     Y    Y    Debit order collection date: 1st          5th      15th


   CLIENT AUTHORITY

I / we declare that all sections of this application form and booklet have been fully considered by me / us and that the statements given in this application and all documents
that have been or will be signed by me/us in connection with this application, whether in my/our handwriting or not, are strictly true and complete. I / we authorise
FINANCIAL MANAGEMENT INTERNATIONAL LTD to draw on my/our Bank/Building Society account (as indicated above) and forward the premiums to the respective
Insurer, the monthly premium required in terms of the benefit I/we have chosen. I / we agree that variations can be made if I am / we are given 30 days notice of a general
increase or decrease of the monthly cost of these Policies.

Commencement Date: D D                    M M          Y Y Y       Y


Signature(s):                                                                                                       Date: D D            M M         Y Y Y       Y


  INTERMEDIARY DETAILS


Name:                                                                                               FMI Code:

FMI Consultant:

FICA Standard Financial Adviser Declaration In terms of Exemption 4 as contained in the Regulations to the Financial Intelligence Centre Act, No. 38 of 2001

Declaration I,__________________________________________________________________ (Full Names, Surname and ID-number of Financial Adviser)
                                                        of__________________________________________(Name of Brokerage if it is a Legal Entity), confirm
that I have identified the client(s)/employer(s) that have applied for this policy and have verified their identity according to the requirments as set out in the
Financial Intelligence Centre Act, 38 of 2001, and any legislation, regulations or guidelines related thereto. I further confirm that I will keep record of the
verification documents as required in terms of the said Act and will make available copies of these documents and details of the verification procedures
followed on request to any party entitled thereto in terms of the Act.

Signature:_________________________________Date:________________________ FAIS Licence No
    INDIVIDUAL EMPLOYEE APPLICATION FORM

COMPANY NAME:

CONTACT NAME:

PHONE No:

PERSONAL DETAILS

Title:                Surname:

First Name(s):                                                                                  ID Number:

Date of Birth:     D D     M M       Y Y Y Y          Sex:      M           F

Maritial Status       S        M          D         W

EMPLOYMENT
Employee Number:                                                    Occupation:

Date Employed: D D            M M       Y Y Y     Y     Monthly ÒGrossÓ Salary R

    Details of Duties: Admin                  %    Manual              %        Travel        %      Supervisory              %

         Benefit                                                                                     Benefit Chosen                     Premium
     Income Protector 1              R1000 to R10 000 per month (12 month cover)
     Income Protector 2              R1000 to R10 000 per month (24 month cover)
     Life Cover                      Lesser of 3 x gross annual salary or R150 000
     Capital Disability              Lesser of 2 x gross annual salary or R100 000
     Dread Disease                   Lesser of 2 x gross annual salary or R100 000
     Savings Plan                    Minimum R20,00
     Core benefit 1                  Accidental Death, PD and Funeral Benefit (R7 500)
     Core benefit 2                  Accidental Death, PD and Funeral Benefit (R15 000)
     Administration Fee                                                                                                                 R 15,00

     Total Premium

    NOMINATION OF BENEFICIARY
Please tick one or more boxes according to your policy s benefit package

Life Cover            Accidental Death Cover
I would like the benefits arising from the abovementioned policy, in the event of my death, to be paid to the following person(s).

           Surname                            Name                               ID Number                          Relationship to        Portion of
                                                                                                                    Policyholder            Benefit




Signature(s):                                                                                                 Date: D D           M M      Y Y Y    Y
The employee's signature is mandatory in the event that a beneficiary is nominated


   NOMINATION OF BENEFICIARY FOR FUNERAL AND DEPENDANT
I would like the benefits arising from the above to be paid to the following person :
Person to receive money to pay for funeral costs

           Surname                            Name                               ID Number                          Relationship to        Portion of
                                                                                                                    Policyholder            Benefit
                                                                                                                                             100%

Immediate family members details to be covered on funeral benefit: e.g. Husband, Wife, Son, Daughter, Adopted Son/Daughter

           Surname                            Name                               ID Number                               Relationship to
                                                                                                                         Policyholder




Signature(s):                                                                                                Date: D D            M M      Y Y Y    Y
The employee's signature is mandatory in the event that a beneficiary is nominated
FMI House, Gleneagles Park, 10 Flanders Drive, Mount Edgecombe, 4300 PO Box 223, Mount Edgecombe, 4300   Underwritten by

Telephone: (031) 538 3500        Fax: (031) 502 5250. Call centre: 086 010 1119. www.fmi.co.za
Financial Management International Ltd is an Authorised Financial Services Provider FSP 2717.                   Authorised FSP 1856
V3 08.07.2009

								
To top