Lump Sum Disability

Product: Pays out a lump sum amount should the member become totally and permanently disabled.

Particulars:

  • Available until the earlier of the Normal Retirement Age and age 65
  • Accelerates the Group Life Cover
  • Can be converted to an Individual Life Policy (if option selected and criteria met)
  • Conversion option is available 5 years prior to benefit cessation age (Capital Alliance, Hollard & Sanlam) and 10 years prior to benefit cessation age (Old Mutual)
  • Waiting period – 6 month (Capital Alliance, Hollard & Sanlam) and Old Mutual has no waiting period
  • Tapering Period – 5 year (Capital Alliance, Hollard & Sanlam) and Old Mutual apply a benefit maximum calculation rather than tapering the cover over a set period

Current Maximums:

  • Capital Alliance – 10 x annual salary or R8.5m
  • Hollard – 5 x annual salary or R6m
  • Sanlam – 8 x annual salary or R10m
  • Old Mutual – 5 x annual salary or R8.5m

Thank you and regards,
The TSA Team

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All information provided is intended to inform and explain, but please remember to always check the current terms on policies when considering options and advising clients.

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